The market for last-mile delivery services is projected to reach $123 billion by 2030, a compound annual growth rate (CAGR) of more than 13% over the next eight years, according to data from Straits Research, released this month.
The projections represent triple the 2021 market value of $40.5 billion, and are driven by e-commerce trends and consumers’ growing reliance on fast, easy shipping. The researchers define last-mile delivery as a process or service that provides faster, easier, more smooth shipping of products to the customer. The market includes last-mile facilities, logistics, and transportation services.
The researchers segmented last-mile delivery across five regions: North America, Europe, South America, Asia-Pacific (APAC), and the Middle East & Africa. APAC is leading the way in market share, with last-mile services valued at $16 billion, and is expected to reach nearly $54 billion by 2030, a more than 14% CAGR, according to the research.