Market Synopsis:
The incorporation of digitalization into logistics opens up avenues for cost-effectiveness as well as assures optimum performance. The industry leaders have already initiated the adoption of the technology, and the market is expected to witness more demand over the next few years. Market Research Future (MRFR) has revealed in its latest report that the market will reach a value of USD 19 Bn, and grow at a robust CAGR of 11% across the forecast period 2017 to 2023.
The amplified offerings available in the Digital Logistics Market coupled with the developments in product line expected to be introduced by 2023 will catapult the market expansion at a fierce pace. Moreover, the globalization has paved the way for consumers to source commodities from all across the world which has spurred the need for a reliable digital logistics solution. The factors propelling the demand for digital logistics are loss due to employee theft, loss of goods in transit, issues related to product distribution, etc. The introduction of e-commerce and m-commerce has also propelled the market for expansion for digital logistics.
The exemplary performance of digital logistics in some industries has opened up avenues for large-scale adoption of the technology for generating benefits such as employee retention, optimum performance, customer satisfaction, etc.
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Key Players
Some of the prominent players in the global digital logistics market Tech Mahindra (India), SAP SE (Germany), Oracle Corporation (U.S.), Samsung Group (South Korea), HCL Technologies Limited (India), Advantech Co. (Taiwan), International Business Machines Corporation (U.S.), Huawei Technologies Co., Ltd. (China), JDA Software Group, Inc. (U.S.), Hexaware Technologies (India) among others.
Global Digital Logistics Market Segmentation:
- By component, the market has been segmented into services, and, systems. The systems segment has been further sub-segmented into database management systems, order management systems, fleet management systems, information integrated systems, tracking and monitoring systems, and, electronic data interchange systems. The services segment is sub-segmented into consulting services, and, system integration services.
- By application, the market has been segmented into warehouse management, transportation management, and, labor management.
- By verticals, the market is segmented into automotive, government, defense, aerospace, healthcare, manufacturing, retail, and, others.
Regional Analysis:
By region, the digital logistics market has been segmented into North America, Asia Pacific, Europe, and the Rest of the World (RoW). North America market will be retaining its dominance across the assessment period owing to the immense demand and supply expected to generate in the region. Moreover, the technology adoption rate has always been higher in this market than in any other markets. The growing faith of the industry leaders in digital technologies will fuel the market growth in the region.
Europe market will multiply revenue generation due to the wide scale penetration of the cloud services. The developments in the industrial sector will also fuel the demand for digital logistics in the region. Asia Pacific market borders the fastest growing economies that are focusing on the technological advancements for the smooth and optimum functioning of the industrial sector. Therefore, the market in this region for digital logistics is expected to proliferate at a robust CAGR. The major contributions in this region will be generated from markets in China, Japan, and India.
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Intended Audience
- Digital logistics companies
- Digital logistics providers
- Computer graphics developers
- System integrators and third-party vendors
- Government bodies
- Technology investors
- Research institutes and organizations
- Market research and consulting firms
- End-users/enterprise-users
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