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North America Last Mile Delivery Market is expected to reach US$ 75.13 billion by 2030

North America last mile delivery market is estimated to surpass US$ 75.13 billion by 2030 from US$ 39.73 billion in 2022 | The Insight Partners

By The Insight Partners

Rising Investments in Unmanned Delivery is Driving the North America Last Mile Delivery Market Growth

According to our latest market study on "North America Last Mile Delivery Market Forecast to 2030 –Regional Analysis – by Type, Vehicle Type, and End User," the market was valued at US$ 39.73 billion in 2022 and is expected to reach US$ 75.13 billion by 2030; it is anticipated to register a CAGR of 8.3% from 2022 to 2030.

Self-driving cars are an essential topic in the logistics industry these days. Large corporations such as Google, Uber, and Ford are making significant advances in autonomous technology. Although self-driving technology is still in its early stages, it is likely to substantially impact several industries, including logistics, shortly. In 2021, FedEx collaborated with the autonomous vehicle manufacturer Nuro to develop autonomous last mile delivery. FedEx will collaborate with Nuro to test its next-generation autonomous delivery vehicle technology for multi-stop and appointment-based delivery in Houston, Texas, as part of a multi-year, multi-phase collaboration. This is the first time Nuro's autonomous delivery technology will be used in logistics, and it represents a big step forward for FedEx as it continues to integrate robotics and automation into its operations. In January 2020, UPS and Waymo partnered to test autonomous delivery. Such investments and partnerships by logistic companies are expected to generate lucrative opportunities for North America last mile delivery market growth. Besides the logistic companies and retailers, many tech and automaker companies focus on developing new technology to make autonomous delivery a reality. In February 2022, Nuro, a California-based independent car developer, unveiled its third-generation vehicle. In the future, the California business hopes to deploy millions of unmanned delivery cars. Further, in September 2023, Magna developed autonomous last mile delivery solutions. The business claims to have created and is testing a revolutionary previous-mile delivery system for metropolitan locations. In March 2022, a Magna-developed robot was piloted with a pizza business in the Detroit area. Magna is improving the service with data and customer input. Such initiatives are expected to create lucrative opportunities for the North America last mile delivery market in the coming years.

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Based on type, the North America last mile delivery market share is categorized into B2C and B2B. Last mile delivery of the B2C variety focuses on delivering packages and items from close transportation hubs to end clients. The B2C North America last mile delivery market share has grown gradually due to digitization and the advent of new technologies. Apart from digitalization, continuous growth in e-commerce is one of the primary factors for the development of the B2C segment. The US Census Bureau recently revealed third-quarter e-commerce sales figures of 2023. Total US e-commerce sales increased by 7.5%, matching growth levels seen throughout 2023 and outpacing corresponding retail sales growth of 2.0%, increasing e-commerce share from 14.1% to 14.9% for the quarter. On the other hand, Toronto is emerging as a Canadian Hub for last mile delivery. The vast bulk of Canada's population is located around the Canada–US border, with Quebec and Ontario accounting for more than half of all Canadian consumers. Because Toronto is the country's financial capital, most imports and deliveries to and from the city's numerous headquarters, enterprises, and customers occur in the metropole. Further, many leading logistics and technology companies focus on unmanned delivery, thus generating new opportunities for the North America last mile delivery market in the coming years.

United Parcel Service Inc., XPO Inc., J B Hunt Transport Services Inc., Canada Post Corp., General Logistics Systems BV., Ceva Logistics AG, Intelcom Courrier Canada Inc., Ontrac Logistics Inc., TFORCE Logistics LLC, Amazon.com Inc., SEKO Logistic LLC, Deutsche Post AG, FedEx Corp, Pitney Bowes Inc., and AP MOLLER-MAERSK AS are among the key North America last mile delivery market players profiled during this study on the market. In addition, several other important market players were studied and analyzed during this study to get a holistic view of the market and its ecosystem.

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