The advanced delivery drones are adopted at an increased rate owing to rising expectations for quick delivery among customers for reduced delivery time and increased delivery efficiency. The majority of retail and e-commerce companies have been employing advanced light-weighted delivery drones in order to increase service portfolio. These factors have been expected to bolster revenue generation opportunities in the last mile logistics digital solutions market in the following years.
Drones are adopted at an increased rate to deliver medical services or products across the healthcare industry. This factor is further likely to increase sales avenues in the last mile logistics digital solutions market. For instance, Flirty has established a partnership with REMSA Health. The first one is a Nevada-based company that deals in drone delivery. The motive of this partnership is to serve Nevada, the U.S. with emergency health services. Furthermore, the companies have decided to dispatch the drone in order to deliver portable defibrillators wherever required.
The last mile logistics digital solutions provide various services, for instance, real-time tracking information, real-time resource allocation, and automated planning and optimization of the route. Further, increasing expectations for rapid package delivery from consumers along with the adoption of autonomous vehicle technology for the delivery of products have been projected to serve as revenue generators in the last mile logistics digital solutions market.
North America Likely to Dominate in Last Mile Logistics Digital Solutions Market
The last mile logistics digital solutions market has been classified into the Middle East & Africa, South America, Asia Pacific, Europe, and North America on the basis of region. Among these regional locations, North America has been projected to hold a dominating position in the market. Canada and the U.S. are the prominent regional countries that are estimated to hold a significant position in the regional market. In addition to this, the rising expectation for quick delivery of goods among consumers and the growing popularity of omnichannel retailing has been serving as vital factors to bolster expansion opportunities in the last mile logistics digital solutions market in the forthcoming years.
Asia Pacific region has also been expected to grow at a noteworthy CAGR rate in the last mile logistics digital solutions market during the forecast period. Australia, Japan, China, and India are the prominent countries that are likely to contribute to the growth opportunities in the regional market.
The rising count of mid and small-size enterprises, as well as e-commerce companies in the Asia Pacific countries, are adopting the services from the last mile logistics digital solutions market. This increasing adoption of the services has been attributed to the rising demand to reduce delivery time and improve product offerings.
Cloud-based Vertical to Dominate in Market
The last mile logistics digital solutions market has been segmented into cloud-based and on-premise on the basis of deployment. Between these two, the SaaS-based/cloud vertical has been predicted to hold a dominating position in the market. The rising demand for the cost-effective platform and real-time insights has been serving as a significant factor to drive growth opportunities in the last mile logistics digital solutions market.
Based on components, the last mile logistics digital solutions market is divided into services and solutions. Between these two, the solutions vertical is likely to grow at a noteworthy speed in the foreseeable years. The rising adoption of aerial delivery drones by numerous companies dealing in the delivery industry for quick delivery has been bolstering market avenues.
The key players serving in the last mile logistics digital solutions market are LogiNext Solutions, Kiva Logic, Fixlastmile, CubeXie Software, Peerbits, Jungleworks, Bringg, FarEye, URBANTZ S.A., and Zoblite.