Autonomous last-mile delivery market to top $75 billion in 10 years
Growing demand for faster delivery combined with technology advancements is driving market growth, researcher says.
Demand for faster delivery of packages and growing technological advancements in delivery vehicles is accelerating growth in the autonomous last-mile delivery market, according to recently released data from Allied Market Research.
The researcher predicts double-digit growth in the market globally over the next 10 years, spurred by the retail sector. Autonomous last-mile delivery is expected to reach $11.12 billion next year and is projected to grow by a compound annual growth rate (CAGR) of 23.7% to reach $75.64 billion by 2030.
“Demand for fast delivery of packages and technological advancements in delivery vehicles are expected to be the prime drivers for the growth of the global autonomous last-mile delivery market,” the researchers said. “However, lack of supporting infrastructure for operation of autonomous delivery services and strict government regulations hamper the market. On the contrary, the development of aerial delivery drones as an effective way to deliver packages is expected to create lucrative opportunities in the near future.”
The market is divided into four main segments by application: logistics, healthcare and pharmaceuticals, food and beverage, and retail. Retail is expected to garner the largest share of the market in 2021 and is expected to grow by a CAGR of nearly 27% by 2030. By vehicle type, the market is divided in three main segments: aerial delivery drones, ground delivery vehicles, and self-driving trucks and buses. Ground-delivery bots are expected to hold the largest share in 2021, but aerial delivery drones are expected to grow the fastest, reaching a CAGR of 26.1% from 2021 to 2030, the researchers said.