Autonomous Last Mile Delivery Market Size Worth $14.46 Billion by 2033; Expanding Road Connectivity & 5G Networks to Propel Growth
Autonomous Last Mile Delivery market size from USD 1.4 Billion in 2023 to USD 14.46 Billion in 10 years. Rapidly growing E-Commerce and retail industry will drive the Autonomous Last Mile Delivery market's growth.
Newark, March 12, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.4 Billion Autonomous Last Mile Delivery market will reach USD 14.46 Billion by 2033. Increased adoption of ground vehicles is one major factor that may create lucrative opportunities for Autonomous Last Mile Delivery devices in the market. Various innovations, and advancements for ground vehicles, may boost the growth of the Autonomous Last Mile Delivery Market in the long run. For instance: the use of Lithium-ion batteries, 5G connectivity, use of solar panels on roads to generate automatic electricity and on-road vehicles are some of the innovations/advancements boosting higher adoption of ground vehicles in the market, which may boost the growth of the Autonomous Last Mile Delivery Market in the period forecasted.
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Key Insights on Autonomous Last Mile Delivery Market
North America accounts for the largest market size during the forecast period accounting for 53% of the total market. Whereas Asia Pacific is expected to be the fastest-growing region in the period forecasted.
North America emerged as the largest market for the global Autonomous Last Mile Delivery market, accounting for 53% of the total market. Owing to rapidly growing innovations in autonomous delivery models. Thereby leading to larger numbers of pilot projects in the model. Further, a heavy rise in the number of e-commerce sales in the region has also propelled the growth of the Autonomous Last Mile Delivery Market in the North American region. Whereas, Asia Pacific exhibits the highest growth rate in the market owing to the presence of key players in the region.
Fixed-Wing has dominated the market accounting for 35% of the total market.
Fixed-Wing has dominated the market accounting for 35% of the total market. Owing to the increasing need for autonomous delivery solutions. Further, faster speed and high potential to deliver the product within time have also helped Fixed-Wing to dominate the market.
E Retail and Food delivery accounted for the largest share of the market share of 89% in 2023.
The Retail and Food delivery segment has dominated the Autonomous Last Mile Delivery market and happens to be the fastest-growing segment within the market. It has acquired the market share of 89% in 2023. Owing to its increasing use and increased adoption in metro cities and university campuses for food delivery
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Latest Development:
● In December 2023, Starship Technologies lanched Robot Wrap up. Main objective behind this launch was to provide the end-users with fastest food service by road. Thereby increasing numer of orders in the region.
● In May 2023, Waymo and Uber entered into a partnership collaboration. The main objective behind this agreement was to integrate driverless vehicles with food delivery platforms. Thereby helping the end users with fast delivery on-road service.
● In March 2023, Starship Technologies entered into a partnership agreement with Trafford Council. Thereby introducing the food onto the streets of Great Manchester. The service was delivered to 24,000 residents in more than 11,000 households.
Market Dynamics
Drivers: Rapidly growing E-Commerce and retail industry
With the rapidly growing e-commerce and retail industry, the market has witnessed increasing growth for Autonomous Last Mile Delivery. Various advancements such as improving faster road connectivity and 5G networks will play a potential role in driving the growth of the market in the period forecasted
Restraint: Lack of infrastructure to support aerial drones
Lack of infrastructure to support aerial drones is one factor that may restrain the growth of the Autonomous Last Mile Delivery Market in the period. To avoid high-level traffic congestion and prevent accidents Aerial drones are of necessity. However, there is a need to work on the infrastructure to support aerial drones.
Opportunity: Increased adoption of ground vehicles
Various innovations, and advancements for ground vehicles, may boost the growth of the Autonomous Last Mile Delivery Market in the long run. For instance: the use of Lithium-ion batteries, 5G connectivity, use of solar panels on roads to generate automatic electricity and on-road vehicles are some of the innovations/advancements boosting higher adoption of ground vehicles in the market, which may boost the growth of the Autonomous Last Mile Delivery Market in the period forecasted.
Challenge: Ongoing issues concerning aerial delivery drones
One major challenge that may pose a severe threat to the Autonomous Last Mile Delivery Market is the ongoing issues associated with aerial delivery drones. Lack of infrastructure leads to limited adoption of the technology in the emerging market. Non-availability of architecture will make it difficult for the technology to survive in the competitive market
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Some of the major players operating in the Autonomous Last Mile Delivery market are:
• Airbus
• Flytrex
• Savioke
• Amazon
• UPS
• DHL
• Nuro
• Navya
• JD.com
• Meituan Dianping
Key Segments cover in the market:
By Type:
● Fixed-Wing
● Rotary-Wing
● Hybrid
By Application:
● Logistics and Transportation
● Healthcare and Pharmacy
● Retail and Food Delivery
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About the report:
The global Autonomous Last Mile Delivery market is analysed based on value (USD trillion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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