According to the report, the global last mile delivery transportation market is projected to reach US$ 477.27 Bn by 2031, expanding at a CAGR of 10.31% during the forecast period. The transportation of goods from a distribution hub to the final delivery destination, which is the end-user of the product, is termed last-mile delivery transportation or last-mile logistics. It is generally the transportation of goods over a short geographical distance; however, it is the most vital component of the logistics process. The rise in penetration of Internet connectivity in urban as well as rural areas coupled with an increase in purchasing power is driving the last mile delivery transportation market across the globe.

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Expansion of Last Mile Delivery Transportation Market

Retail e-commerce sales are increasing at a rapid pace. The Census Bureau of the U.S. Department of Commerce stated that retail e-commerce sales for the first quarter of 2021 increased by 7.7% to a total of US$ 215 Bn, as compared to the last quarter of 2020. E-commerce sales accounted for 13.4% of the total retail sales across the U.S. This expansion of the e-commerce sector is attributable to the high penetration of the Internet and the strong presence of young consumers. These consumers powered by internet connectivity rely more on technology to perform their daily activities. E-commerce is highly preferred by these tech-savvy youth to procure daily consumables, clothing, electronics, and other essential and non-essential goods due to the availability of comparative information between various products, multiple discount offers, and other such benefits.

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Last Mile Delivery Transportation Market Segmentation

Based on vehicle type, the light-duty vehicles segment held a major share of the global last-mile delivery transportation market in 2020. However, the industry is exploring novel transportation technologies, such as drones, to reduce the delays or autonomous delivery robots could assist drivers with heavy loads or postal carriers with arms full of mail. Autonomous guided vehicles (AGVs) are also gaining popularity for the transportation of goods. These non-conventional vehicle types are anticipated to witness a significant increase in adoption in the last mile delivery transportation market during the forecast period.

Based on the end-use industry, the FMCG products delivery segment led the last mile delivery transportation market across the globe in 2020. The segment is anticipated to register significant incremental opportunities during the forecast years. Online sales of FMCG goods are increasing, as multiple retailers and traditional brick mortar shop owners are increasing their online presence to cater to the changing demands of consumers. This, in turn, is driving the share held by the FMCG segment in the market.

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Regional Analysis of Last-Mile Delivery Transportation Market

In terms of region, the global last-mile delivery transportation market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia Pacific led the global last-mile delivery transportation market in 2020, owing to a significantly large population with improving economic conditions, which has fueled the consumption of goods. The high pace of industrialization and urbanization in rapidly expanding economies, such as China and India, is fueling the transportation and logistics sector and consequently, driving the last mile delivery transportation market in the Asia Pacific.

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