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NEW YORK, April 8, 2022 /PRNewswire/ — The last mile delivery market in North America is expected to observe an incremental growth of USD 59.81 billion between 2020 and 2025. The market witnessed a YOY growth of 14.80% in 2021 and the growth momentum is expected to accelerate at a CAGR of 16% 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.
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The last mile delivery market in North America is fragmented. Key vendors constitute a significant share of the overall market revenue. New vendors are also planning to enter the market due to the growing demand for last mile services among consumers, especially in the US. Some vendors are providing industry-specific last mile services and are utilizing big data technologies to improve delivery efficiencies.
Technavio identifies CRST International Inc., Deutsche Bahn AG, Deutsche Post DHL Group, DSV Panalpina A/S, FedEx Corp., Werner Enterprises Inc., JB Hunt Transport Services Inc., United Parcel Service Inc., United States Postal Service, and XPO Logistics Inc. as dominant vendors in the market. Although the growing B2C e-commerce industry in US will offer immense growth opportunities, operational challenges for last mile delivery companies will challenge the growth of the market participants. To make the most of the opportunities , market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Last Mile Delivery Market in North America 2021-2025: Segmentation
Last Mile Delivery Market in North America is segmented as below:
- Service
- B2C
- B2B
- Geography
- US
- Canada
By service, the B2C segment will offer significant growth opportunities for market players over the forecast period. Similarly, by region, the US will account for the largest market share. The country currently holds 82% of the market …
Full story available on Benzinga.com
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