The global E-commerce industry registered remarkable growth in the past decade owing to the introduction of digital business models and the advent of smart logistics. There has been a rise in 'instant' and 'same-day delivery patterns in online product purchases worldwide.
In April 2018: Ryder System Inc., American transportation and Logistics Company acquired MDX Group, a last-mile delivery carrier, for USD 120 million to expand its business portfolio. Ryder System Inc. also acquired 109 MDX e-commerce fulfillment facilities, 21 MDX-operated cross-dock hubs, 16 dedicated operations, and a network of 72 third-party agent facilities across the United States and Canada.
The global last mile delivery market has been segmented majorly based on service type, vehicle type, delivery time, topography.
The B2C segment is expected to dominate the last mile delivery market during the forecast period. In the B2B market, the carriers who deliver to the last mile face challenges regarding the level of unpredictability concerning customer and transit availability, which is eliminated in B2C.