BANGALORE, India, May 10, 2021 /PRNewswire/ — Digital Logistics Market by Type – Consulting services, System integration services, Other services, By Application – Warehouse management, Labor management, Transportation management. This report is published on Valuates Reports in the Transportation & Logistics Category.
The global Digital Logistics Market size is projected to reach USD 22170 million by 2026, from USD 10230 million in 2019, at a CAGR of 11.5% during 2021-2026.
Major factors driving the growth of the digital logistics market are:
- Digital logistics increase the transaction speed, flexibility of operations, scalability of resources, business transparency, cost-effective logistics and supply chain solutions across various industry verticals.
- Exponential growth in the e-commerce industry along with rising customer expectations.
TRENDS INFLUENCING THE GROWTH OF DIGITAL LOGISTICS MARKET
Exponential growth in the e-commerce industry is expected to drive the growth of digital logistics market size. Because of the increase in e-commerce activity, logistics companies must work quickly and more effectively to process small individual orders. Customers expect accurate orders, same-day or same-hour delivery, and free returns when ordering online. Digital logistics systems allow users to track the location, availability, and movement of assets over time (materials, equipment, labor, etc.). They also allow users to track the location, availability, and movement of assets in real-time.
The increasing globalization of supply chains and freight logistics has brought about more opportunities and more costs. The increasing need to manage logistics and supply costs effectively is driving the growth of digital logistics market size. Using robust Digital logistics solutions gives competitive freight companies the means to control a broad range of costs, including, Warehouse Management, Labor Management, and Transportation management.
Collaboration between various internal and external structures and people is made possible by digital logistics. Collaboration allows for the reduction or elimination of the “data silo effect,” in which data is stored in separate, siloed information systems—or, worse, individual spreadsheets. A single interface that provides a cohesive, shared view of the supply chain—rather than a network of forty-plus integration points—improves cross-departmental and cross-trading partner visibility and coordination, making agility and responsiveness an essential part of the digital supply chain.
DIGITAL LOGISTICS MARKET SHARE ANALYSIS
North America is expected to hold the largest digital logistics market share. The presence of large IT companies and rapid technological developments in the United States and Canada are driving market growth in this area. These countries’ well-established economies enable them to invest heavily in cutting-edge digital logistics solutions and services.
Based on application, the warehouse management segment is expected to be the most lucrative during the forecast period. Warehouse management is accomplished by the use of tools and platforms dedicated to keeping track of incoming and outgoing products in the warehouse. Orders are synced with inbound and outbound logistics information in the WMS, allowing logistics service providers to keep track of inventory that is being stored inside and going out of the warehouse.
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Digital logistics Market by Key Companies
- Advantech Corporation
- Hexaware Technologies
- JDA Software
- Samsung Co
- SAP Ag
- Tech MahindrA
- UTI Worldwide Inc
Digital logistics Market by Types,
- Consulting services
- System integration services
- Other services
Digital logistics Market by Application,
Digital logistics Market by Regions
- North America
- Southeast Asia
- Central & South America
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SIMILAR REPORTS :
– Worldwide IoT in Logistics Market will grow at an estimated CAGR of 35.5% during the forecast period 2016–2022. North America is currently the market leader, and Asia Pacific is becoming one of the fastest growing regions. IBM Corporation, Microsoft Corporation, Intel, SAP, FedEx Corporation, XPO Logistics, and Cisco Systems, NC are among the key players profiled in the study.
– Supply Chain Big Data Analytics Market by Product-Type: On-Premise Supply Chain Big Data Analytics, On-Cloud Supply Chain Big Data Analytics, Application: Retail, Healthcare, Transportation & logistics, Manufacturing, Others, by key players, by Regions: North America, Europe, China and Japan, etc.
– The global Connected Logistics market was valued at USD16.774 Billion in 2016, and is projected to reach at USD27.722 Billion by 2023, growing at a CAGR of 7.60% from 2017 to 2023.Several factors affect the global Connected Logistics industry, including increased IoT and logistics 4.0 penetration, expanded application areas, expanded market for cloud solutions and proliferation of connected devices, growth associated with end-use industries, demand from emerging economies, and others. All of these factors, taken together, create opportunities for the Connected Logistics market to expand.
– Companies are constantly experimenting with Artificial Intelligence in Logistics in order to optimise last-mile distribution, minimise time to market, and provide consumers with the customization they need. The Artificial Intelligence market in logistics is predicted to grow at a CAGR of 42.9% over 2017-2023 to reach USD 6.5 billion by 2023.
– E-Commerce Logistics Market is expected to reach USD 535.895 Billion by 2022, supported by a CAGR of 21.2%.The global e-commerce logistics industry will be shaken by the upcoming proliferation of e-commerce websites and the availability of low-cost freight. Furthermore, the widespread use of C2C and B2C e-commerce websites has boosted demand for international and domestic e-commerce logistics.
– Global Cross-border E-commerce Logistics Market by Type – Transportation, Warehousing, Other, by Application – Automobile, Retail, Manufacturing, Other, By Regions, Market Size, Status and Forecast 2021-2027.
– The global Digital Freight Brokerage market size is projected to reach USD 2395.7 million by 2026, from USD 555.5 million in 2019, at a CAGR of 22.7% during 2021-2026.
– Project Logistics Market by Product-Type: Transportation, Forwarding, Inventory Management and Warehousing, Other, Application: Oil and Gas, Energy and Power, Construction, Manufacturing, Other, by key players, by Regions: North America, Europe, China and Japan, etc.
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