Digital Logistics Market Analysis
The digital logistics market will touch USD 19 billion at an 11% CAGR in the forecast period 2017- 2023, as per the new Market Research Future (MRFR) analysis. 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 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.
On the contrary, slow adoption of digital logistics solution owing to high capital investment and lack of uniform governance standard in the fragmented logistics industry may deter the digital logistics market growth over the forecast period.
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Digital Logistics Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global digital logistics market based on verticals, applications, and component.
By component, the global digital logistics market is segmented into system and services. The systems segment is again bifurcated into electronic data interchange systems, tracking and monitoring systems, information integrated systems, fleet management systems, order management systems, and database management systems. The services segment is again bifurcated into system integration services and consulting service. Of these, the data base management segment will lead the market over the forecast period.
By applications, the global digital logistics market is segmented into labor management, transportation management, and warehouse management.
By verticals, the global digital logistics market is segmented into retail, manufacturing, healthcare, aerospace, defense, government, automotive, and others. Of these, the manufacturing sector will dominate the market over the forecast period.
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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). Of these, North America will dominate the market over the forecast period. Increasing penetration of digital systems and technologies like electronic data interchange and radio frequency identification, increasing adoption in automotive, defense, healthcare, and other industries, increasing demand for digital and mobile communication, and growing use for real-time location access, movement of assets and delivery notifications are adding to the global digital logistics industry growth.
In Europe, the global digital logistics market is predicted to have the second-largest share over the forecast period for the increasing use of next generation of cloud services.
In the APAC region, the global digital logistics market is predicted to grow at a fast pace over the forecast period. Increasing penetration of internet connectivity, booming e-commerce industry, growing transportation business, the expansion of business in untouched areas, developing regional e-commerce sector, the adoption of newer technologies, increasing global competition, increasing penetration of smart devices and connected machines, high economic growth in Vietnam, China, and India, and increasing investments in smart cities are adding to the global digital logistics market growth in the region. India, Japan, and China have the utmost market share.
In RoW, the global digital logistics market is predicted to have sound growth over the forecast period.
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Digital Logistics Market Key Players
- 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)
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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.
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 digital logistic is used for real-time location access, delivery notifications as well as the movement of assets.
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.Digital logistics Market Key PlayersThe prominent players in the global digital logistics market are 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 others.Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/5831The 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”.Digital Logistics Market SegmentationThe global digital logistics market is segmented into the component, applications, verticals, and region.
Digital Logistics MarketThe 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.
Digital logistics has drawn significant commercial interest in recent years, with some of the leading technology companies entering the space.
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.
