The Global Digitization in Logistics Supply Chain Market Size Was Worth 11.81 (USD Billion) in 2019 and Is Expected To Reach 21.82(USD Billion) by 2026, CAGR of 8.1%.
Digitization in Logistics Supply Chain Market
The global Digitization in Logistics Supply Chain Market Size, which was estimated at about 11.81 (USD Billion) in 2019 and is predicted to accrue earnings worth 21.82 (USD Billion) by 2026, is set to record a CAGR of nearly 8.1% during 2020-2026. The report offers a valuation and analysis of Digitization in the Logistics Supply Chain Market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).
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Digitization has made logistics supply chain activities more agile, customer-centric, and proficient. In addition to this, the onset of the industry 4.0 revolution is likely to make enterprise supply chain processes more digitized, smart, and connected, and hence firms are likely to increase the digitization of their logistics supply chain activities in the near future. Furthermore, digitization of logistics supply chain activities can not only increase the processing speed but also result in cost reduction. Moreover, the move can help the logistics firms as well as other firms in the production business to carry the operations to the next technological phase and can assist them in business decision-making along with enhancing the operational efficiency of logistics supply chain processes. Digitization will help organizations in enhancing the sales of their manufactured products through process digitization as it will result in improvement in value chain activities and facilitate just-in-time delivery of the products.
The thriving e-Commerce industry is projected to make notable contributions towards digitization in the logistics supply chain market size in the upcoming years. Apart from this, the surge in the production units across emerging economies will promulgate the expansion of digitization in the logistics supply chain industry over the forecast timespan. Moreover, logistics plays a key role in supply chain activities as it includes effectively managing & planning goods & services. Apparently, large-scale demand for effective transport of raw substances from the site of procurement to the manufacturing base as well as transportation of finished goods to warehouses & retailers or distributors from manufacturing facilities will drive the market demand.
Furthermore, the onset of IoT and AI technologies will unravel new growth avenues for digitization in logistics supply chain business in the upcoming years. With the spread of the COVID-19 pandemic across the globe, the market for digitization in logistics supply chain industry is anticipated to accelerate over the ensuing years. Industry players are investing in the automation of logistics supply chain services to improve the accuracy & timeliness of these activities along with proficiently managing the fleet & enhance their profits, thereby enlarging the business scope.
|Report Attributes||Report Details|
|Report Name||Digitization in Logistics Supply Chain Market Research Report|
|Market Size in 2019||USD 11.81 Billion|
|Market Forecast in 2026||USD 21.82 Billion|
|Compound Annual Growth Rate||CAGR of 8.1%|
|Number of Pages||130|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Gainfy Foundation, AlphaNetworks, Blackbox AI, Synapse SI, AI-Blcokchain, and BurstIQ, LLC.|
|Segments Covered||By End-User, By Organization Size, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2016 to 2020|
|Forecast Year||2022 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Asia Pacific Market To Witness Lucrative Growth Over 2020-2026
The expansion of digitization in logistics supply chain industry in the Asia Pacific over the assessment timespan is credited to the swift industrialization witnessed in the emerging countries in APAC. Apart from this, the influx of a large number of multinational firms in the countries such as India and China will substantiate the demand for the web and this, in turn, will generate a rise in the digitization of supply chain activities across the region. This, in turn, will drive the regional market growth trends. In addition to this, the need for real-time monitoring of activities as well as effective tracking of the logistics supply chain events during transit has led to enormous market penetration in Asia Pacific in recent years. Firms in the APAC countries are focusing on reducing the negative impact of the coronavirus pandemic on logistics & supply chain business in the region and hence are adopting digitization of supply chain & logistics operations, thereby unraveling huge untapped growth potential for the market in the region.
Key players profiled in the study include
By Organization Size:
The Global Digitization In Logistics Supply Chain Market was valued at USD 11.81 Billion in 2019.
The Global Digitization In Logistics Supply Chain Market is expected to reach USD 21.82 Billion by 2026, growing at a CAGR of 8.1% between 2019 to 2026.
Industry players are investing in the automation of logistics supply chain services to improve the accuracy & timeliness of these activities along with proficiently managing the fleet & enhance their profits, thereby enlarging the business scope.
This, in turn, will drive the regional market growth trends. In addition to this, the need for real-time monitoring of activities as well as effective tracking of the logistics supply chain events during transit has led to enormous market penetration in Asia Pacific in recent years. Firms in the APAC countries are focusing on reducing the negative impact of the coronavirus pandemic on logistics & supply chain business in the region and hence are adopting digitization of supply chain & logistics operations, thereby unraveling huge untapped growth potential for the market in the region.
Oracle Corporation,Accenture,Tata Consulting Services Limited,Advnatech Co. Ltd, Cognizant, SAP SE, Capgemini SE,Hexaware Inc, IBM Corporation, Wipro Ltd.