LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the last mile delivery market in North America provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the last mile delivery market in North America will grow at a CAGR of close to 13% during the forecast period. The growth of e-retailing is a major factor driving the market’s growth.
Online retailing or e-retailing is growing at a very fast pace across North America and accounts for a significant share of the overall retail market. Although the e-retail market in North American countries is relatively mature, the volume of the goods sold online is growing daily as more people move away from brick and mortar stores for most of their purchases. This is a key factor that drives the last mile delivery market in North America.
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In this report, Technavio highlights the growing focus of vendors on expanding their market presence in North America as one of the key emerging trends in the last mile delivery market in North America:
Growing focus of vendors on expanding their market presence in North America
E-retailing and logistics companies are increasingly focusing on expanding their presence in the North American markets, to extend their reach to remote customers. For instance, in May 2017, XPO Logistics announced a major network expansion plan for the Chicagoland area. The new facility expands the company’s Chicago market delivery center capacity to almost 100,000 square feet and will cater to some of the key retail, e-commerce, and manufacturing companies. Similarly, Amazon.com and USPS are also looking to expand their presence in the last mile delivery market. Amazon.com, which is traditionally an e-retailing company, is trying to bypass the middle logistics segment by providing its own last mile delivery services. In November 2017, USPS also introduced its next-day Sunday delivery option, offering store-to-customer delivery services within one day.
According to a senior analyst at Technavio for logistics research, “The demand for last mile delivery of large merchandise has witnessed strong growth during the past few years, driven by the growing consumer confidence in buying large and valuable goods from online shops. The scale of delivery network and the delivery efficiency plays a major role in vendor selection for delivery, due to which the service providers are focusing on expanding their geographical presence.”
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Last mile delivery market in North America - market segmentation
This market research report segments the last mile delivery market in North America by services (business to consumer and business to business). The report also presents a detailed analysis of the market’s growth prospects across regions such as the US and Canada.
The US region held the largest market share in 2017, accounting for over 80% of the market. However, the market share for this segment is expected to witness a small decline over the forecast period.
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