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NEW YORK, July 27, 2022 /PRNewswire/ — The “Last Mile Delivery Market in North America by Service and Geography – Forecast and Analysis 2022-2026” report by Technavio expects the market size to grow by USD 74.36 billion between 2021 and 2026, expanding at a CAGR of 16.48% during the forecast period. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. Download Sample PDF Report Here
The last mile delivery market in North America is fragmented, as many players are operating at the national and regional levels within the market. Key vendors constitute a significant share of the overall market revenue. New vendors are planning to enter the market due to the growing demand for last mile services among consumers, especially in the US. Vendors face challenges in maintaining margins due to the entry of a large number of players, which has resulted in a decrease in the profit margins of many last mile delivery operators. To overcome such challenges, vendors are providing industry-specific last mile services and are utilizing big data technologies to improve delivery efficiencies. Some vendors are focusing on instant and next-day deliveries, as many people are willing to pay a premium price for such services. Therefore, to survive and succeed in such a competitive environment, it becomes imperative for vendors to distinguish their product offerings through clear and unique value propositions.
The growing B2C e-commerce industry in the US has been instrumental in driving the growth of the market. However, operational challenges for last mile delivery companies might hamper the growth of market players. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. ArcBest Corp., Averitt Express Inc., AxleHire Inc., CH Robinson Worldwide Inc., CMA CGM Group, CRST International Inc., DDC Logistics Inc., Deutsche Bahn AG, Deutsche Post DHL Group, DSV Panalpina AS, FedEx Corp., GEODIS, JB Hunt Transport Services Inc., Kerry Logistics Network Ltd., Ryder System Inc., SEKO Logistics, United States Postal Service, Washington Express LLC, Werner Enterprises Inc., and XPO Logistics Inc. are among some of the major market participants. Request a Sample Report Here
The last mile delivery market in North America is segmented as below:
- Service
- B2C
- B2B
By service, the B2C segment accounted for the largest share of the market in 2021. The introduction of new services by delivery operators to suit the specific needs of customers is driving the growth of the segment. In addition, increased investments in big data and consumer analytics to improve delivery times and enhance the consumer experience are expected to have a positive impact on the growth of the segment during the forecast period.
- Geography
- US
- Canada
- Mexico
The US is the key market for last mile delivery services in North America. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The last mile delivery market in North America report covers the following areas:
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist last mile delivery market growth in North America during the next five years
- Estimation of the last mile delivery market size in North America and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the last mile delivery market in North America
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of last mile delivery market vendors in North America
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Full story available on Benzinga.com
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