The Global Digital Logistics Market Size is valued at 27.61 billion in 2022 and is predicted to reach 149.37 billion by the year 2031 at a 20.82% CAGR during the forecast period for 2023-2031.
Digital logistics refers to automating and digitizing procedures related to goods movement. Any routine logistical operation that relies on pen and paper and repetitive manual effort has the potential to be digitized and automated. The digital logistics industry is being driven by several elements, including the use of logistics apps, the enormous volume of data and enhanced service quality, and the rapid rise of IT solutions for businesses.
COVID-19 imposed enormous pressure on the global supply chain and logistics industry, resulting in a digital transformation influenced by new consumer behavior, unanticipated demand, supply delay, and movement restrictions. In consideration of the coronavirus pandemic, logistics companies have realized the significance of technological innovation and multichannel offerings. Customers demand novel digital tools and solutions that facilitate immediacy, accessibility, and self-service as a result of COVID-19, which has led to a significant increase in e-commerce. The growing E-commerce sector, widespread usage of cloud technology, and globalization of retail marketplaces are all offering enough prospects in digital logistics.
According to Logistics News, dealing with disasters such as the Covid-19 outbreak necessitates digital supply chains that employ artificial intelligence and allow for digital payments. However, the adoption of digital logistics goods is hampered by concerns about security, privacy, and a lack of IT infrastructure.
Competitive Landscape:
Some of the Digital Logistics Market players are:
- Advantech
- AT&T
- Blue Yonder (Formerly Known as JDAJDA Software)
- Cloud Logistics
- Digilogistics Technology Limited
- Eurotech SPA.
- Freightgate Inc.
- HCL Technologies
- Hexaware
- Honeywell
- IBM
- ICAT Logistics
- Impinj
- Infosys Limited
- Intel
- Intersec
- Logisuite
- Magaya
- Oracle
- Orbcomm Inc.
- Ramco Systems
- Samsung SDS
- SAP
- Softlink
- Tech Mahindra
- Webexpress
Market Segmentation:
The Digital Logistics Market is segmented on the basis of component, Application, deployment mode, organization size, and End-user. Based on solution segments include asset management, warehouse management, data management & analytics, security, and network management. By service, the market is segmented into planning & consulting, deployment & integration, and support & maintenance.
The Application segment includes warehouse management, transportation management, and workforce management. By deployment mode, the market is segmented into cloud and on-premises. Organization size is segmented into large enterprises and small & medium-sized enterprises. The End-user segment includes retail & E-commerce, manufacturing, pharmaceuticals & healthcare, energy & utilities, aerospace & defense, automotive, and other End-users.
Based On End-user, The Retail & E-Commerce Segment Is Accounted As A Major Contributor To The Digital Logistics Market
The retail & E-commerce category is expected to hold a major share of the global Digital Logistics Market in 2022. The introduction of online purchases and expanding Internet users propelled the e-commerce business's explosive expansion. Because of the rapid growth of e-commerce enterprises functioning in the logistics arena, there is an immediate need for them to operate more rapidly and effectively in order to meet tiny individual requests. Customers expect correct orders (notification), free returns, and same-hour or same-day delivery when they shop online.
Data Management & Analytics Segment Witnessed Growth At A Rapid Rate
The data management & analytics segment is projected to grow at a rapid rate in the global Digital Logistics Market due to lower company costs and is predicted to rise significantly during the forecast period. Data management and analytics can use GPS tracking software to determine who is driving unproductive routes or abusing a car. It will not only handle on-the-road issues but also provide a precise readout of the hours claimed by drivers. Data management and analytics are responsible for monitoring and controlling a company's technology (hardware, networks, communications, operating systems, and applications, among other things) to analyze its operation and performance and discover and alert about any errors.
North America Digital Logistics Market Holds A Significant Revenue Share In The Region
Among all regions, North America is projected to experience the most significant expansion. The growing e-commerce industry, increased adoption of cloud technology, and rapid technological advancements, such as digitalization in nations such as the United States and Canada, are driving the overall digital logistics market expansion in this region.
Asia Pacific Digital Logistics Market is also expected to register a notable market share in terms of revenue in the near future due to the presence of developed economies such as China, India, and the Philippines. Lower entry cost and risk, cost-effective expansion, access to the latest technology, and dynamic and innovative software features are all advantages of a logistic data system.
The logistics sector's contribution to India's economic development has grown, and a robust logistics sector is intended to help India's quest through government initiatives such as "Make in India." Furthermore, several significant players are seeking a consolidated production base. Because of the government's increased budgeted investment, enhanced infrastructure facilities, and tremendous access to global markets, the industry has seen considerable expansion. Because of its healthy economies, Asia-Pacific remains an industry growth engine.
Digital Logistics Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 27.61 Bn |
|
Revenue forecast in 2031 |
USD 149.37 Bn |
|
Growth rate CAGR |
CAGR of 20.82 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Component, Application, Deployment Mode, Organization Size, And End-User |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
IBM, Oracle, SAP, AT&T, Intel, Infosys Limited, Honeywell, Eurotech SPA, HCL Technologies, Orbcomm Inc., Cloud Logistics, Freightgate Inc., Blue Yonder (Formerly Known as JDA Software), Digilogistics Technology Limited, Webexpress, Ramco Systems, Logisuite, Impinj, Intersec, ICAT Logistics, Magaya, Softlink, Samsung SDS, Hexaware, Tech Mahindra, and Advantech. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
