Emerging Technologies Within Last Mile Delivery
As technology grows to become more advanced, the last mile delivery landscape is ever-changing. Some of the most popular advancements right now include:
· Machine learning & AI
· Automated/self-driving vehicles
Machine Learning & AI help move away from paper trails and minimize time spent on paperwork by helping increase efficiency and productivity. Machine learning and AI can come about in the form of robotics that can do tasks like transportation, delivery, and packing. AI can help with route optimization and scheduling as well.
Automated/Self-Driving Vehicles for last mile delivery were valued at 11.12B in 2021 and are forecasted to reach USD 51.38B by 2028 according to Fortune Business Insights. This is partially due to the market demand increasing from the result of COVID-19, and customers expecting faster deliveries and more updated technologies. Many automated vehicles are being tested on college campuses where students are eager to adopt this technology into their lives. According to Deloitte, Europe is expected to have a CAGR (compound annual growth rate) for automated vehicles at around 19.4% from 2021-2028.
Drones are an increasingly cost-effective way to make deliveries within the last mile sector. They also typically have lower Co2 emissions than cars and vans in a single delivery. According to McKinsey, over 2,000 drones were making deliveries everyday in 2022 with that number largely increasing as time goes on. Some of the main deliveries included prepared food, medical samples, and convenience items. Companies utilizing drones must now implement a strategy to see the cost effects over the long term and develop a system to keep track of their drone deliveries.
Blockchain technology is a database that is a way to allow more transparency within a business. It shows transactions and stores data to be distributed in the system. It is also a way to allow paperless records with the help of AI technology. Certain brands with high-value goods have been especially interested in blockchain technology because of the ability to centralized platforms and messengers for order delivery. These include electronics, military, and pharmaceuticals who want to use the technology to reduce counterfeit and disputes.
Our team of developers are working hard to help keep ROUTD up to date in light of new technologies emerging. More updates to come soon!