While last mile has been a ‘trend to watch’ for some time, it’s still a relatively young sector with a long way to go before it hits its potential. Perhaps then, it’s no surprise to see that the software market around it still has a lot of potential to grow.
One report expects the last mile software market to double from US$ 5,382.3 million in 2018 to US$ 10,789.4 million by 2026 (a CAGR of 9.28%).
New advances in innovation and tech are expected to boost market growth in the period.
Split between cloud and ‘on-premise’, it is the cloud half of the last mile software sector that will see the greatest growth, with end-to-end encryption, the potential for rapid scalability, greater computing power and high levels of storage capacity – and without the requirements of setting up and maintenance costs of own IT infrastructure.
North America is expected to see the biggest expansion, growing hand in hand with online sales, meanwhile neighbour Canada is lagging behind in adoption of e-commerce and has been slow to invest in e-commerce infrastructure and tech, so said the report. Demand for same-day and one-day delivery is one of the key factors boosting the region’s growth.
The VMR report lists Descartes, FarEye, Track-POD, LogiNext, Zippykind and CubeXie Software among the key players in the last mile logistics sector.
There’s more info, as always, in the (paid-for) full report.