As the rise of e-commerce continues, companies around the globe have become increasingly sensitive to evolving consumer preferences.
As industry use cases continue to expand, many have come to define the ecosystem as the autonomous last-mile.
But what exactly does this mean?
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This trend is likely to continue as organizations compete for potentially lucrative market share.
However, determining how and where this is happening requires a more in-depth look.
The autonomous last-mile ecosystem
The last-mile ecosystem is diverse, encompassing several use cases across many industries.
However, to reach their full potential, autonomous technologies require an extensive, interconnected web link ofdigital infrastructure.
Although the path towards this reality remains unclear, individual market segments have already begun to generate impressive results.
Credit:The Future of Mobility: Whats Next?
Based on these figures, growth in this market segment is likely to accelerate in coming years.
Credit:The Future of Mobility - Whats Next?
These estimates point to a compounded annual growth rate (CAGR) of 20.3 percent from 2019 to 2030.
This figure represents 10 billion tons of goods traveling in human-operated industrial vehicles.
However, as autonomous technologies continue to evolve, existing supply chains will inevitably evolve.
This transformation will be driven primarily by the large portion of short-haul routes in the US.
Because autonomous delivery tech is well-suited to shorter distances, existing market conditions are likely to support further adoption.
According toPwC, trucking cost savings of 30 percent are possible by 2056 if adoption rates remain high.
In 2016, premier transportation and logistics provider Schnieder simultaneously announced the acquisition of Watkins & Shepard and Lodeso.
These acquisitions allow Schnieder to bring together industry-leading final-mile delivery, claims-free handling, and an innovative tech platform.
However, several other industry verticals continue to attract substantial investment.
Toyota AI Venturesis another venture capital firm investing heavily in this space.
This recent funding has brought the firms total assets under management to more than $200 million.
Typically, these companies fall in the parcel delivery segment.
The autonomous robot will deliver product from urban distribution centers to Amazon Prime customers.
But before going solo, the equipment will be accompanied by an Amazon Scout ambassador.
Between June 1 and November 30 of this year, FedEx will pilotlast-mile delivery servicesin five markets.
Navigating the autonomous last-mile
The autonomous tech ecosystem consists of several segments that span many use cases.
From parcel delivery to autonomous passenger vehicles and industrial applications, the industry is vast and complex.
As robust capital inflows continue, the autonomous last-mile movement shows immense promise for future applications.
Howard is a professional technologist with a background in robotics engineering, including autonomous vehicle technology and manufacturing.
