Autonomous Last Mile Delivery Market to Reach $144.2 billion, Globally, by 2033 at 23.1% CAGR: Allied Market Research

Core Insights - The autonomous last mile delivery market is projected to grow from $18.7 billion in 2023 to $144.2 billion by 2033, with a CAGR of 23.1% from 2024 to 2033 [1][3]. Market Drivers - The growth is driven by increasing e-commerce demand, advancements in AI and robotics, and the need for cost-effective logistics solutions [2][3]. - The demand for contactless delivery solutions is also a significant factor contributing to market expansion [3]. Market Restraints - High initial investment and operational costs, along with limited infrastructure for autonomous vehicle operation, are expected to hinder market growth [2][3]. Opportunities - Integration with smart city infrastructure and collaboration between technology firms and logistics companies present lucrative opportunities for future market growth [2][3]. Market Segmentation - By Vehicle Type: Ground delivery bots held the highest market share in 2023 and are expected to show the highest CAGR of 24.0% during the forecast period due to advancements in AI and robotics [4]. - By Range: The short range segment accounted for the largest market share in 2023 and is expected to maintain dominance, while the long range segment is projected to have the highest CAGR of 24% [6]. - By Solution: The hardware segment held the highest market share in 2023, but the software segment is expected to grow at the highest CAGR of 24.3% [7]. - By Application: The retail segment dominated the market in 2023, while the logistics segment is anticipated to grow at the highest CAGR of 25.1% [8]. - By Region: North America held the largest market share in 2023, with Asia-Pacific expected to show the highest CAGR of 25.1% during the forecast period [9]. Key Players - Major players in the market include Amazon, UPS, FedEx, and various startups like Starship Technologies and Nuro, which are pioneering autonomous delivery systems [12][13].