The last mile delivery plays a crucial role in myriad industries. The international trade scenario has witnessed a rise in the international trade due to drastic change in recent years. Commonly, logistics refers to the moving of goods from one place to another. However, the market demands wide-ranging services and precise logistics practices, which makes last mile delivery an ideal solution for businesses. It helps in monitoring as well as managing their operations. It also helps in delivering the parcel within time. Companies operating in the global marketplace are considering supply chain engineered logistics as a significant means to improve their cash flows, boost their cost savings, and enhance servicing levels for offering their products to market. The factor such as the unprecedented growth rate of the e-commerce sector, enhanced focus on risk management in the supply chains and increasing collaborations are some of the drivers influencing the growth of the last mile delivery market.

The last mile delivery market accounted to US$ 1.99 Bn in 2018 and is expected to grow at a CAGR of 16.7% during the forecast period 2019 – 2027, to account to US$ 7.69 Bn by 2027.

The drones are majorly used by e-commerce companies and several governments and private organizations to deliver time-sensitive goods, medicines, and emergency response goods. Disaster recovery, medical supplies, and other applications witness significant growth potential. Drone delivery is the ultimate solution for last-mile connectivity in rural areas. The drones in the current scenario are progressing substantially, as the governments of several countries are simplifying the laws and regulations, which is raising the number of drone operating companies. Such approvals and initiatives would help the companies to widen the scope of the last mile delivery market.

Key findings of the study:

The logistics industry is booming in the North America region. The global and regional trade network such as NAFTA (North America free trade agreement) between USE, Mexico and Canada have highly increased the trade between these countries, and as a result of this, the player in the logistics and supply chain industries have increased. Apart from this, these countries are also a member of the World Trade Organization (WTO) whose primary objective is to increase trade between the member countries across the world. Furthermore,  the US currently holds the largest last mile delivery market share; however, Canada is expected to emerge as the fastest growing region in the near future. Increase in an inclination of manufacturers to develop paperless work along with a rise in adoption of just-in-time trucking for e-commerce companies is boosting the market for last mile delivery in the US.

Product Innovation and partnerships are expected to be the key growth strategy to be adopted by players for the next two to three years. However, this strategy could impact competition; it is also expected to generate new market as well as product opportunities as recently combined companies will thrive to maintain position and profitability.

Some of the key players operating in the last mile delivery market are CEVA Logistics AG, DB Schenker (Deutsche Bahn AG), DHL (Deutsche Post AG), DSV A/S, FedEx Corporation, GEODIS, Kuehne + Nagel International AG, Nippon Express Co., Ltd., XPO Logistics, Inc., and United Parcel Service, Inc.

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