Digital Logistics Market Analysis
The digital logistics market will touch USD 19 billion at an 11% CAGR in the forecast period 2017- 2023, as per the new Market Research Future (MRFR) analysis. Digital logistics solutions, simply put, is a process to make logistics smarter, through the help of different digital technologies. In fact the use of advanced communication and technology in logistics that helps to cut down operating costs, improves the overall efficiency, enhances supply chain, and offer customer-centric solutions, is known as digital logistics.
Various factors are fuelling the global digital logistics market share. As per the recent MRFR market estimates, such factors include the large volume of data and improved logistics operations, the increasing demand for digital technology, increasing use during the COVID-19 pandemic, growing e-commerce industries, and increasing number of partnerships.
On the contrary, slow adoption of digital logistics solution owing to high capital investment and lack of uniform governance standard in the fragmented logistics industry may deter the digital logistics market growth over the forecast period.
Digital Logistics Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global digital logistics market based on verticals, applications, and component.
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By component, the global digital logistics market is segmented into system and services. The systems segment is again bifurcated into electronic data interchange systems, tracking and monitoring systems, information integrated systems, fleet management systems, order management systems, and database management systems. The services segment is again bifurcated into system integration services and consulting service. Of these, the data base management segment will lead the market over the forecast period.
By applications, the global digital logistics market is segmented into labor management, transportation management, and warehouse management.
By verticals, the global digital logistics market is segmented into retail, manufacturing, healthcare, aerospace, defense, government, automotive, and others. Of these, the manufacturing sector will dominate the market over the forecast period.
Digital Logistics Market Regional Analysis
By region, the global digital logistics market revenue covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. Increasing penetration of digital systems and technologies like electronic data interchange and radio frequency identification, increasing adoption in automotive, defense, healthcare, and other industries, increasing demand for digital and mobile communication, and growing use for real-time location access, movement of assets and delivery notifications are adding to the global digital logistics industry growth.
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In Europe, the global digital logistics market is predicted to have the second-largest share over the forecast period for the increasing use of next generation of cloud services.
In the APAC region, the global digital logistics market is predicted to grow at a fast pace over the forecast period. Increasing penetration of internet connectivity, booming e-commerce industry, growing transportation business, the expansion of business in untouched areas, developing regional e-commerce sector, the adoption of newer technologies, increasing global competition, increasing penetration of smart devices and connected machines, high economic growth in Vietnam, China, and India, and increasing investments in smart cities are adding to the global digital logistics market growth in the region. India, Japan, and China have the utmost market share.
In RoW, the global digital logistics market is predicted to have sound growth over the forecast period.
Digital Logistics Market Key Players
The notable players profiled in the global digital logistics market report include Hexaware Technologies (India), JDA Software Group, Inc. (U.S.), Huawei Technologies Co., Ltd. (China), International Business Machines Corporation (U.S.), Advantech Co. (Taiwan), HCL Technologies Limited (India), Samsung Group (South Korea), Oracle Corporation (U.S.), SAP SE (Germany), and Tech Mahindra (India), among others. Mergers and acquisitions, partnerships, collaborations, joint ventures, new product launch and development, geographic expansions, and others are the key factors used by industry players to stay ahead and also cater to the burgeoning needs of customers.
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Industry Updates
March 2021- Amsted Digital Solutions has acquired GeoMetrix Rail Logistics with an aim to expand its digital footprint.
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According to a new market research report "Digital Logistics Market by Solution (Asset Management, Warehouse Management, Data Management and Analytics, Security, Network Management), Service, Function (Warehouse Management, Transportation Management), Vertical, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market size to grow from USD 17.4 billion in 2020 to USD 46.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.7% during the forecast period.Digitalization offers significant operational and customer engagement enhancement benefits to logistics service providers.
The use of technologically advanced logistics solutions results in resource optimization, productivity enhancement, cost optimization, and improved overall business strategies for logistics service providers.
The solutions segment in the Digital Logistics Market comprises six major segments: asset management, warehouse management, data management and analytics, security, and network management.
The storage of goods that are being transported is managed through this function.
Orders that are being processed are synched with the inbound and outbound logistics details in the WMS, enabling the logistics service providers to keep track of the inventory being stored inside and moving out of the warehouse.
The integration of WMS with TMS is very necessary to keep the order details and processing up to date and keep the supply chain going.Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=114784205Asia Pacific to record the highest growth during the forecast periodThe APAC Digital Logistics Market is estimated to have a strong growth in the future.
Global Digital Logistics Market Research Report – By Component (System, Services), Applications (Warehouse Management, Labor Management, Transportation Management), Verticals (Healthcare, Automotive, Manufacturing), by Regions - Forecast Till 2023Digital Logistics Market The global digital logistics market is growing at the rapid pace across North America, Europe, Asia Pacific, and rest of the World.
In North America region, the digital logistics market is witnessing a high demand due to increasing penetration of digital logistics systems among various industries such as healthcare, defense, automotive and others, which are boosting the market growth to a large extent.
The digital logistic is used for real-time location access, delivery notifications as well as the movement of assets.The North American region is experiencing a huge growth in digital logistics due to increasing demand for mobile and digital communication.
The digital logistics help in optimizing the logistics and improves the customer service.
Digital transformation in logistics improves the process automation and provides advanced analytics tools for optimizing supply chain operations in pricing, routing, and partial load shipment.The global digital logistics market is estimated to reach USD ~19 billion by the end of the forecast period of 2023, at a CAGR of approximately ~11%.Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report.
Avail the in-depth table of content TOC & market synopsis on “The Global Digital logistics Market Research Report – Forecast to 2023”.Access Report Details @Digital Logistics Market Research Report - Forecast to 2023 | MRFRDigital Logistics Market has increased at 11% CAGR during forecast period 2017 to 2023, Digital…Read on marketresearchfuture.comGlobal Digital Logistics Market SegmentationThe global digital logistics market is segmented into the component, applications, verticals, and region.
