Global Digital Logistics Market: Overview
Digitalization in the logistics business has opened new ways to expand the business. As a fact, digital logistics in the supply chain play a crucial role, right from eliminating manual data collection errors throughout the process that is prone to human errors and to improve & expedite logistics processes. Digitalization in logistic has proved not only to save money on operational expenses but it also helps in accurate order fulfillment, lost productivity, and maintain data transparency for all the vendors and partners involved in the process.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Global Digital Logistics Market: Growth Factors
Growth in customer base, economic & political developments, an increase in the number of digital customers, and the rising era of IoT are some of the factors fueling the growth of the global digital logistics market. The supply chain industry is rapidly taken by the Internet of Things (IoT). In the upcoming years it is been estimated that IoT will have an impact on the supply chain and logistics. IoT enables the retail, transportation, and manufacturing companies to monitor goods in real-time and makes sure they are arrived in good condition and most importantly on the right place and time. IoT in logistics has several applications such as smart warehouse and wearables. Such a digital transformation in logistics is driving the growth of the digital logistic market. On the other side, lack of expertise in the field and technology constraints may hinder the growth of the global digital logistics market. Furthermore, advanced technologies including driverless vehicles and 3D printing may create huge opportunities for the market in the forthcoming years.
The global economy has been adversely affected by the COVID-19 pandemic. It has an impact on each and every sector including transport, IT, healthcare, and many more. Strict lockdowns were imposed by several countries to control the spread of the disease, which has resulted in disruption in the supply chain, which in turn resulted in cessation of the markets of business to business logistics. Additionally, China is considered as the world’s factory as over 200 firms of Global Fortune 500 are present in Wuhan, the one which experienced the hardest hit of COVID-19. Thus the companies relying on the supply chain in China for direct or secondary suppliers experienced a huge setback for the business.
Global Digital Logistics Market: Segmentation
The global digital logistics market is segmented by solutions, services, functions, and region. By solutions, data management and analytics are expected to register the highest growth rate over the forecast year. This tool helps IoT devices to gather a large amount of raw data and provides meaningful insights that help organizations to improve process efficiency. On the other hand, by functions, transportation management is likely to hold the maximum share of the market over the forecast period. Rising needs for tracking losses during transportation, on time delivery records, etc. are factors driving the growth of this segment.
Global Digital Logistics Market: Regional Analysis
North America accounted for holding the largest share of the global digital logistics market. The presence of large IT firms, the high adoption rate of advanced technologies in the US & Canada, and availability of large digital service providers is fueling the growth of the market in this region. Europe is estimated to hold second-largest share in the market, while the market in Asia Pacific is estimated to register the highest growth during the forecast period. Growing transportation business, expansion of business in untouched areas, growing regional e-commerce sector, and adoption of newer technologies are spurring the growth of the market in this region. The market in Latin America is also growing at a rapid pace; the growing adoption of digital services between the regional transportation and logistics industry is mainly contributing to the growth of the market in this region.
Global Digital Logistics Market: Competitive Players
JDA Software Pvt Ltd, IBM Corporation, Oracle Corporation, DigiLogistics Technology Ltd, Advantech Corporation, Tech Mahindra Limited, Hexaware Technologies Limited UTI Worldwide Inc., SAP SE, and Samsung Electronics Co. Ltd (Samsung SDS), are some of the major players operating in the global digital logistics market.
Global Digital Logistics Market: Regional Segment Analysis
What Reports Provides
Request the coronavirus impact analysis across industries and markets