According to Inkwood Research, the Global Autonomous Last Mile Delivery Market is set to evolve at a CAGR of 18.51% in terms of revenue during the forecast period, 2021-2028.
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Last mile delivery is an expensive and complex step to
manage in the logistics process. The delivery is done by a robot. Hence the
error and costs involved are done with. Though, there are expenses involved in
the purchasing of robots.
Rising
Demand for Fast Delivery Fuels Market Growth
Last mile delivery has become an integral part of
maintaining customer service and brand image. Carriers and logistics providers
are aiding retailers in meeting the rising expectations of the consumers. The
tech-savvy generation uses advanced smartphones and prefers advanced internet
services. This has further boosted online sales. Thus, there is an increasing
demand for value-added services and adequate last mile deliveries.
Customers are making sophisticated choices. They are opting
for instant or same-day delivery, if available at affordable prices. The
increasing demand for last-mile delivery and its execution for business and
consumer packages within a specific timeframe has pushed for excellence in
final mile deliveries. Such factors have pushed companies to utilize driverless
vehicles or drones. Walmart, FedEx, and Amazon are developing last mile delivery
operations to increase their efficiency.
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Short Range
(<20 km) is the Dominating Range
Short-distance vehicles are designed to deliver services
within a specific range. This is because of the underdeveloping infrastructure
for last mile delivery services across the globe. Drones are limited to a small
delivery radius. The range can be extended by deploying them from a moving
autonomous vehicle. The deliveries are limited to uncongested rural areas that
have the lowest regulatory barriers to aviation. Since the autonomous last mile
delivery service is in introductory phases, the vendors and manufacturers have
launched short-range delivery drones. As
per estimations, short-range deliveries are projected to take place rather than
the long-range ones in the beginning.
North America – Leading Region in terms of CAGR & Revenue
North America encompasses the increasing adoption of
automation in last mile delivery services, which has enabled companies to
follow through various innovations. Also, the logistics market in the region is
highly competitive. This has encouraged several market players to invest in the
sector, so as to facilitate the flow of goods through the largest consumer
market in the world. Moreover, the availability of infrastructures like
advanced ports and automated container terminal, liberalized custom process,
has further enhanced the logistics in the region. Such factors are set to
provide a conducive environment for market growth.
The competition is at a nascent stage as companies are
evaluating several methods to get optimal results from their technology. The
industry rivalry is estimated to be low, since the scope for market expansion
is high. Some of the companies establishing their presence in the market
include, Amazon, Zipline, Walmart, Nuro, Starship Technologies, JD.com, etc.
About Inkwood Research
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relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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