Digital Logistics Market Trends
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: Segmental Analysis
The segmental analysis of the market has been conducted based on application, component, vertical and region.
On the basis of application, the market has been segmented into transportation management, warehouse management, and labor management. On the basis of component, the market has been segmented into system and services. The system segment covers order management systems, information integrated systems, electronic data interchange systems, database management systems, tracking and monitoring systems and fleet management systems. The services segment covers system integration services and consulting services. On the basis of verticals, the market has been segmented into government, aerospace, manufacturing, automotive, healthcare, retail, defense and others.
Global Digital Logistics Market: Regional Analysis
Regions covered in the report include Asia Pacific (APAC), North America, Europe among others. North America digital logistics market is expected to witness a strong growth over the next couple of years. In North America, pacey adoption of novel digital technologies and solutions such as electronic data interchange, radio frequency identification, etc. has reflected favourably on the digital logistics market.
The Europe digital logistics market is primarily driven by the increased adoption of cloud-based technologies. Industrial verticals in Europe are rapidly shifting towards cloud for optimizing operation and reducing cost. During the forecast period, the market in Europe is expected to demonstrate a healthy growth.
The APAC digital logistics market is also expected to growth swiftly over the next several years. Rapid economic growth in countries such as China, and India has augured well for market players operating in the region. The IT and telecommunication sector in the region has witnessed an impressive growth in recent years, which makes APAC a bright-spot for the global digital logistics market. It is projected that market is APAC will demonstrate a strong CAGR during the forecast period.
Global Digital Logistics Market: Competitive Landscape
Key players covered in MRFR’s report include SAP SE (Germany), Samsung Group (South Korea), Advantech Co. (Taiwan), Huawei Technologies Co., Ltd. (China), Hexaware Technologies (India), Tech Mahindra (India), Oracle Corporation (U.S.), International Business Machines Corporation (U.S.), HCL Technologies Limited (India) and JDA Software Group, Inc. (U.S.).
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Digital Logistics Market Trends The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Digital Logistics Market Trends.
The growth sectors of the Digital Logistics Market Trends are identified with precision for a better growth perspective.FREE PDF@ https://www.marketresearchfuture.com/sample_request/5831The global digital logistics market is gaining popularity due to the growing e-commerce industries which are set to propel the market growth in the forthcoming years.
The factors which are driving the market growth of digital logistics are the increasing demand for cloud-based services and use of applications in logistics.
The lack of information and communication technology infrastructure is hampering the growth of the digital logistic market.By region, the global digital logistics market demand is growing across the various geographical regions including North America, Europe, Asia Pacific, among others.
The North American region is leading due to increasing penetration of cloud technologies, and supply chain logistics applications.According to Market Research Future Analysis, 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 ~11%.Market Research Future (MRFR) recognizes the following companies as the key players in the global digital logistics market: Tech Mahindra (India), SAP SE (Germany), Oracle Corporation (U.S.), Samsung Group (South Korea), HCL Technologies Limited (India), Advantech Co. (Taiwan), International Business Machines Corporation (U.S.), Huawei Technologies Co., Ltd. (China), JDA Software Group, Inc. (U.S.), Hexaware Technologies (India) among othersFor the purpose of analysis, the global digital logistics market is segmented into the component, applications, verticals, and region.
Moreover, services are sub-segmented into consulting services, system integration services.
Digital Logistics Market HighlightsThe 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 Report assesses the market’s competitive landscape studying the market share, strengths & shortcomings, opportunities for entry into market, digital logistics market trends and target markets.
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%.Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/5831Taste 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”.Global Digital logistics Market Key PlayersThe prominent players in the global digital logistics market areTech Mahindra (India)SAP SE (Germany)Oracle Corporation (U.S.)Samsung Group (South Korea)HCL Technologies Limited (India)Advantech Co. (Taiwan)International Business Machines Corporation (U.S.)Huawei Technologies Co., Ltd. (China)JDA Software Group, Inc. (U.S.)Hexaware Technologies (India) among others.
According to a new market research report "Digital Logistics Market by Solution (Asset Management, Warehouse Management, Data Management and Analytics, Security, Network Management), Service, Function (Warehouse Management, Transportation Management), Vertical, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market size to grow from USD 17.4 billion in 2020 to USD 46.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.7% during the forecast period.
The use of technologically advanced logistics solutions results in resource optimization, productivity enhancement, cost optimization, and improved overall business strategies for logistics service providers.
The solutions segment in the Digital Logistics Market comprises six major segments: asset management, warehouse management, data management and analytics, security, and network management.
The storage of goods that are being transported is managed through this function.
Orders that are being processed are synched with the inbound and outbound logistics details in the WMS, enabling the logistics service providers to keep track of the inventory being stored inside and moving out of the warehouse.
The integration of WMS with TMS is very necessary to keep the order details and processing up to date and keep the supply chain going.Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=114784205Asia Pacific to record the highest growth during the forecast periodThe APAC Digital Logistics Market is estimated to have a strong growth in the future.
