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Digital Logistics Market Witness the Growth of $46.5 billion by 2025

09-25-2020 02:41 PM CET | IT, New Media & Software

Press release from: MarketsandMarkets™

Digital Logistics Market Witness the Growth of $46.5 billion

MarketsandMarkets forecasts the "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 ", 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. Digital logistics solutions are being implemented by all stakeholders in the industry, including manufacturers, distributors, warehouse owners, and transportation service providers. Digital logistics solution providers are developing applications to enable large amounts of information to be stored, exchanged, analyzed, communicated, and visualized. The use of technologically advanced logistics solutions results in resource optimization, productivity enhancement, cost optimization, and improved overall business strategies for logistics service providers. Digital logistics provides businesses with hyper connectivity, lower costs, automation of jobs, service virtualization, simplification of transactions, and remote access.

Browse 286 market data Tables and 45 Figures spread through 247 Pages and in-depth TOC on "Digital Logistics Market - Global Forecast to 2025"

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/digital-logistics-market-114784205.html

The solutions segment to hold a larger market size during the forecast period

Based on component, the solutions segment of the digital logistics market is projected to hold a larger market size during the forecast period. The solutions segment in the digital logistics market comprises six major segments: asset management, warehouse management, data management and analytics, security, and network management. Due to increasing Information and Communication Technology (ICT) integration with different verticals, digital logistics solutions are also expected to witness a massive growth. These solutions are customized by companies for specified requirements from customers. All the solutions are aimed at logistics monitoring, optimizing Total Cost of Ownership (TCO), reducing risks, improving safety and security, and enhancing operations with real-time tracking and maintenance.

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By function, the warehouse management segment to record a higher growth rate during the forecast period

Warehouse management is a very important function in the digital logistics market. The storage of goods that are being transported is managed through this function. Warehouse management is done with help of software and platforms that are dedicated to keep the updates of incoming and outgoing goods in the warehouse. 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. Therefore, the WMS has features for updating the inventory checks and stock takes. The WMS software can be integrated with scanners that update the order details in the various warehouse systems and software. 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.

Asia Pacific to record the highest growth during the forecast period

The APAC digital logistics market is estimated to have a strong growth in the future. The APAC region is witnessing high growth due to increasing global competition, growing penetration of smart devices, connected machines, and rising investments in smart cities. High economic growth in developing countries, such as India, China, and Vietnam, has resulted in an increase in the number of connected solutions that consist of sensors and RFID tags, resulting in a sudden outburst of vast amounts of data. This has made digital logistics a prominent feature in the growing transportation and logistics sector of this region. Thus, APAC is a current hotspot of the digital logistics market and attracts many companies.

Speak To Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=114784205

Major vendors of digital logistics include IBM (US), Oracle (US), SAP (Germany), AT&T (US), Intel (US), Infosys (India), Honeywell (US), Eurotech S.P.A (Italy), HCL Technologies (India), ORBCOMM (US), Cloud Logistics (US), Freightgate (US), Blue Yonder (US), Digilogistics (China), WebXpress (India), Ramco Systems (India), Logisuite (US), Impinj (US), Intersec (France), ICAT Logistics (US), Magaya (US), Softlink (India), Samsung SDS (South Korea), Hexaware (India), Tech Mahindra (India), and Advantech (Taiwan).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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