According to a recent report published by Allied Market Research, titled, “KSA Last Mile Delivery Market by Service Type, Delivery Time, and End Use: Opportunity Analysis and Industry Forecast, 2021–2030,” The KSA last mile delivery market was valued at $285.3 million in 2020, and is projected to reach $520.9 million by 2030, registering a CAGR of 6.3% from 2021 to 2030.
The last mile delivery, also known as last mile logistics, is the last leg of a journey comprising the movement of goods from a transportation hub or warehouse to their final delivery destination. Last mile delivery aims to deliver items to customers as quickly as possible while minimizing company costs. The last mile delivery accounts for more than ~50% of the total shipping cost.
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The growth of the KSA last mile delivery is majorly driven by development of the e-commerce industry and increase in trading activities due to globalization. However, poor infrastructure & higher logistics costs and lack of control of manufacturers & retailers on logistics service are the factors that hamper the growth of the last mile delivery market. On the contrary, rise in adoption of electric vehicles for cost-effective delivery, introduction of autonomous vehicles for last mile delivery purpose, and surge in number of urban warehouses to meet the growing demand are some of the potential factors that are expected to offer remunerative opportunities for the growth of the market during the forecast period. Furthermore, the Kingdom of Saudi Arabia serves as one of major destinations for start-ups among other countries such as New Zealand and Japan, which notably contributes toward the market growth.
In addition, cost cutting & lead time reduction due to adoption of multi-modal system and rise in venture capital & strategic investments supplement the growth of the KSA last mile delivery market.
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COVID-19 Impact Analysis
COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Lockdown measures have helped to contain the spread of coronavirus, but exacted an immense economic toll. On the business side, the logistics and transportation sectors are among the hardest hit. Despite initial fluctuations in demand, the COVID-19 pandemic has only accelerated the growth of the e-commerce sector. Moreover, increase in digital payments such as online transactions were observed during pandemic period for last mile delivery services. Restrictions on movement during pandemic period resulted in shift of consumer toward online payments system rather than traditional cash-on-delivery payment system.
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Key Findings Of The Study
By service type, the B2C segment is expected to register significant growth, registering a CAGR of 9.7% during the forecast period.
Depending on delivery time, regular segment is projected to lead the KSA market in terms of market share by the end of the forecast period.
On the basis of end use, the e-commerce segment is projected to exhibit the highest growth, in terms of market share, by the end of the forecast period.
The key players profiled in the report include Beam Abdul Latif Jameel (S:mile), Agility, Ajex, ARAMEX, Aymakan, Bahri, Careem, CMA CGM Group(CEVA Logistics), Diggipacks, Kintetsu World Express, Inc., Kuehne+Nagel, Masar Tracking, NAQEL EXPRESS. SAEE, Safe Arrival, SALASA, Saudi Post, SMSA Express Transportation Company Ltd., Thabit Logistics, Zajil Express.
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