LONDON--(BUSINESS WIRE)--The new last-mile delivery market in North America Research from Technavio indicates negative growth in the short term as the business impact of the COVID-19 spreads.
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"One of the primary growth drivers for this market is the growing B2C e-commerce industry in the US,” says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the last mile delivery market in North America size to grow by USD 59.81 billion during the period 2021-2025.
Last Mile Delivery Market in North America Segment Highlights for 2020
- The last mile delivery market in North America is expected to post a year-over-year growth rate of 14.80%.
- Based on the service, the B2C saw maximum growth in 2020. The growing e-retailing sector in North America has significantly created the demand for B2C last mile delivery services.
- The growth of the market segment is expected to be significant throughout the forecast period.
Regional Analysis
- 82% of the growth will originate from the US region.
- Factors such as the large volume of e-retail purchases and the rise in the number of customers opting for fast and seamless delivery services will propel the last mile delivery market growth in the US over the forecast period.
- The US and Canada are the key markets for the last mile delivery market in North America. Market growth in the US will be faster than the growth of the market in Canada.
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Notes:
- The last mile delivery market in North America size is expected to accelerate at a CAGR of almost 16% during the forecast period.
- The last mile delivery market in North America is segmented by service (B2C and B2B) and geography (the US and Canada).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including CRST International Inc. , Deutsche Bahn AG, Deutsche Post DHL Group, DSV Panalpina A/S, FedEx Corp., J.B. Hunt Transport Services Inc., United Parcel Service Inc., United States Postal Service, Werner Enterprises Inc., and XPO Logistics Inc.
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