Digital Logistics Market Share
The digital logistics market is predicted to surpass a valuation of USD 19 billion, attaining a CAGR of 11% during the forecast period (2017-2023), Market Research Future (MRFR) reveals in a detailed report. Digital logistics offer advantages to the companies by offering profitability, enhanced efficiency, customer-centric solutions, and enhanced supply chain. Enterprises across the world are highly embracing these solutions to gain a competitive edge. Digital logistics use advanced communications and technologies to improve supply chain integration and supply chain by minimizing the operation cost.
Market Potential and Pitfalls
The global digital logistics market has witnessed a tectonic surge over the past few years, mainly due to the booming e-commerce sector across the globe. Digital logistics has been highly impacted by the advent of m-commerce and e-commerce, which has empowered customers to source products from across the world. Supply chain logistics and new enterprise applications are united to the core warehouse, transportation, and labor management, with the help of digital logistics. This will further enable new process models and ensure excellence and fulfillment. The enhanced logistics operations and large volume of data are some of the factors propelling the growth of the market across the globe. Globalization has paved the way for the consumers to source commodities from across the globe, which in turn has triggered the demand for a reliable digital logistics solution. Moreover, the loss due to employee theft, concerns associated with product distribution, and loss of goods in transit are some of the prominent factors to intensify the growth of the market in the foreseeable future.
A prominent change is likely to reshape the shipping and logistics industries. With digitization spreading across the globe, platform-based business models are likely to connect with new players and harness the cloud. Consumer-facing logistics and transportation have witnessed the rise of platforms like Deliveroo and Uber. New technology and infrastructure, constant pressure to minimize cost, and more visible logistics data is likely to influence the growth of the digital logistics market during the review period. IBM and Maersk partnered to launch TradeLens, which is a blockchain-based platform to manage shipments across the globe, involving multiple stakeholders.
Global Digital Logistics Market to Touch USD 19 Bn by 2023
The global digital logistics market is set to capture a double-digit CAGR of 11% from 2016 to 2023, asserts Market Research Future (MRFR) in its latest report. The market is expected to reach a valuation of USD 19 Bn by the end of the forecast period. Digital logistics has drawn significant commercial interest in recent years, with some of the leading technology companies entering the space. This has led to an increase in number of collaboration and partnerships between companies.
Service providers are actively focusing on expanding their product portfolio and offer solution as per the need of the client. The logistics industry is witnessing tremendous technological transformation which is making a positive influence on the global digital logistics market.
The market is also benefiting from the significant advances taking place in cloud-based services. Moreover, the logistics industry is increasingly relying on data for operation and management, which is opening new growth avenues for the global digital logistics market.
Digital logistics is gaining popularity owing to its advantages such as higher efficiency, robust connectivity and cost-saving. Also, it gives valuable insights into the key parameters of goods transport structure. Companies are replacing tradition systems with new-age digitalized logistics to improve bottom line and become sustainable in the long run.
The rise of the e-commerce sector has resulted in a greater need for efficient logistics solution. The boom of e-commerce in emerging economies is viewed as a major market driver. The factors mentioned above are expected to support the global digital logistics market during the forecast period.
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The growth sectors of the Digital Logistics Market Share are identified with precision for a better growth perspective.The digital logistics market is predicted to surpass a valuation of USD 19 billion, attaining a CAGR of 11% during the forecast period (2017-2023), Market Research Future (MRFR) reveals in a detailed report.
Digital logistics offer advantages to the companies by offering profitability, enhanced efficiency, customer-centric solutions, and enhanced supply chain.
Enterprises across the world are highly embracing these solutions to gain a competitive edge.
Digital logistics use advanced communications and technologies to improve supply chain integration and supply chain by minimizing the operation cost.Market Potential and PitfallsThe global digital logistics market has witnessed a tectonic surge over the past few years, mainly due to the booming e-commerce sector across the globe.
Supply chain logistics and new enterprise applications are united to the core warehouse, transportation, and labor management, with the help of digital logistics.
The enhanced logistics operations and large volume of data are some of the factors propelling the growth of the market across the globe.
Digital Logistics Market Share The global digital logistics market is growing at the rapid pace across North America, Europe, Asia Pacific, and rest of the World.
In North America region, the digital logistics market is witnessing a high demand due to increasing penetration of digital logistics systems among various industries such as healthcare, defense, automotive and others, which are boosting the market growth to a large extent.
The digital logistic is used for real-time location access, delivery notifications as well as the movement of assets.The North American region is experiencing a huge growth in digital logistics due to increasing demand for mobile and digital communication.
The digital logistics help in optimizing the logistics and improves the customer service.
Digital transformation in logistics improves the process automation and provides advanced analytics tools for optimizing supply chain operations in pricing, routing, and partial load shipment.The global digital logistics market is estimated to reach USD ~19 billion by the end of the forecast period of 2023, at a CAGR of approximately ~11%.Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report.
Avail the in-depth table of content TOC & market synopsis on “The Global Digital logistics Market Research Report – Forecast to 2023”.Access Report Details @Digital Logistics Market Research Report - Forecast to 2023 | MRFRDigital Logistics Market has increased at 11% CAGR during forecast period 2017 to 2023, Digital…Read on marketresearchfuture.comGlobal Digital Logistics Market SegmentationThe global digital logistics market is segmented into the component, applications, verticals, and region.
Digital logistics solutions, simply put, is a process to make logistics smarter, through the help of different digital technologies.
In fact the use of advanced communication and technology in logistics that helps to cut down operating costs, improves the overall efficiency, enhances supply chain, and offer customer-centric solutions, is known as digital logistics.
Various factors are fuelling the global digital logistics market share.
As per the recent MRFR market estimates, such factors include the large volume of data and improved logistics operations, the increasing demand for digital technology, increasing use during the COVID-19 pandemic, growing e-commerce industries, and increasing number of partnerships.
Of these, the manufacturing sector will dominate the market over the forecast period.
Digital Logistics Market Regional Analysis By region, the global digital logistics market revenue covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America and the Rest of the World (RoW).
