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First Mile Delivery Market Trends

Report ID: GMI9873
Published Date: Jun 2024
Report Format: PDF

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First Mile Delivery Market Trends

The market for first-mile deliveries is changing quickly due to technological breakthroughs and a rising focus on sustainability. In response to evolving consumer demands for faster and more dependable delivery services—including same-day and same-hour options—manufacturers and logistics companies are coming up with innovative solutions.

Effective first mile logistics is essential for businesses in a variety of sectors including manufacturing, retail, and healthcare to guarantee that their goods arrive at distribution centers and regional hubs on time. Technological developments, such as automation, Artificial Intelligence (AI), and the Internet of Things (IoT), which streamline procedures and increase operational effectiveness, are also driving this market's expansion.

A number of essential characteristics of first mile delivery systems add to their efficacy and efficiency. Route optimization, which guarantees that items are transported via the most efficient routes, lowering transportation costs and delivery times, is one of the most crucial characteristics. Furthermore, real-time tracking features are frequently included in first mile delivery services, enabling companies to monitor the whereabouts and progress of their items while they are being delivered.

Automation is a crucial component that aids in optimizing processes and lowers the likelihood of human error. Lastly, many first mile delivery providers offer flexible scheduling, enabling companies to select delivery windows that work for them and their clients.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of first mile delivery reached USD 79.6 billion in 2023 and is set to witness over 7.5% CAGR between 2024 and 2032, led by technological advancements to enhance efficiency and exponential growth in e-commerce.

The truck mix segment in the first mile delivery industry held 40% revenue share in 2023, owing to the adaptability, affordability, and cost-effectiveness of these vehicles.

North America market held over 35% revenue share in 2023, due to strong consumer demand, advanced logistics networks, and significant technological advancements in automation and IoT.

Ceva Logistics, Deutsche Post DHL Group, Expeditors International of Washington, Inc., FedEx Corporation, Geodis, J.B. Hunt Transport Services, Inc., Kuehne + Nagel International AG, Ryder System, Inc., United Parcel Service, Inc. (UPS) and XPO Logistics, Inc.