Market Synopsis:
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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Key Players
Some of the prominent 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 others.
Global Digital Logistics Market Segmentation:
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.
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.
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Intended Audience
- Digital logistics companies
- Digital logistics providers
- Computer graphics developers
- System integrators and third-party vendors
- Government bodies
- Technology investors
- Research institutes and organizations
- Market research and consulting firms
- End-users/enterprise-users
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