Fairfield Market Research presents an in-depth study of the global last mile delivery market. The research report anticipates that that market is expected to witness a skyrocketing rise as COVID-19 impact remains pronounced in the e-tailing sector. The unprecedented demand for online shopping amidst rising health concerns is projected to bode well for the market.
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The rise in sales of home care products and groceries due to panic buying with sudden lockdowns during the pandemic has bolstered the demand for last mile delivery. The demand for online purchases shot up in the first two quarters of 2020, giving the market a unique opportunity. For the first time, vendors in the global last mile delivery market experienced a challenge and opportunity of catering to a mammoth consumer base. Fairfield Market Research predicts that COVID-19 is expected to accelerate digitization, even in rural parts of the world, paving the way for retail and logistics businesses that depend on last mile delivery solutions.
The consumer pattern is shifting towards online purchasing, indicating acceptance of higher delivery charges for same-day delivery. E-commerce and logistics sector are thereby catering to the needs of the consumers by providing same-day delivery, which is today is the prime focus of vendors in the market.
The global market is expected to face certain restraint owing to COVID-19, hampering business sustainability. The lockdown resulted in limited labor force to cater to the rising demands of the consumers. However, the ease of lockdown in various parts of the world has helped in resuming business hence, boosting demand for last mile delivery market. The pandemic might have disrupted the market for a short term period but is expected to prove lucrative in the long run.
The FMCG segment is likely to retain its position as the leading segment with a share of 37% in the global market due to the rise of e-commerce platforms. There has been an increased demand in the food and beverage sector as restaurants remained shut for dining. Wider internet access has also resulted in the convenience of online shopping, which has been a key contributor to the last mile delivery market.
The Asia Pacific region is expected to lead the global market with a share of 40% as this region is flourishing in terms of Millennial and Generation Z with decent disposable income and preference for shopping from the comfort of homes. Asian countries are witnessing rise of e-commerce platforms, which cater to the wide consumer base in this region. Foreign investments in this region are also anticipated to make a positive impact on the last mile delivery market.
The key players of the market are actively engaging in improving and modifying their services to cater to the needs of the customers. This has resulted in increased competition and entrance of new players in the global market with a quick delivery business model. Players in the market are hence focusing on adoption of strategies such as mergers and acquisitions, joint ventures and collaborations. For example, the Uber and other cab services are employing their resources to set up their last mile delivery services.
The key players operating in the global last mile delivery market are Cargo Carriers, CJ Logistics, CEVA Logistics, Concargo Private Ltd, DB SCHENKER, Interlogix Pty Ltd., DHL Paket GmbH, Estes Express Lines, FedEx Corporation, Kuehne + Nagel, Nippon Express Co., Ltd., J&J Global Limited, KART, SNCF Geodis, Swift Transportation, TNT Holding B.V., Procet Freight, Tuma Transport, Yamato Holdings Co., Ltd., United Parcel Service Inc. among others.
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