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Digital Logistics Market To Reach USD 22170 Million By 2028 at a CAGR of 11.5% - Valuates Reports
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.
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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.
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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
-Digilogistics
-Hexaware Technologies
-IBM
-JDA Software
-Oracle
-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,
-Warehouse management
-Labor management
-Transportation management
Digital logistics Market by Regions
-North America
-Europe
-China
-Japan
-Southeast Asia
-India
-Central & South America
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SIMILAR REPORTS :
Logistics Market Global Opportunity Analysis and Industry Forecast 2027 - https://reports.valuates.com/market-reports/ALLI-Auto-3T152/logistics
Global Freight forwarding Market - https://reports.valuates.com/market-reports/QYRE-Othe-4Q275/freight-forwarding
Global Ocean Freight Forwarding Market - https://reports.valuates.com/market-reports/QYRE-Auto-39Q2263/covid-19-impact-on-global-ocean-freight-forwarding
Global Freight Brokerage Market - https://reports.valuates.com/reports/QYRE-Auto-36Y633/global-freight-brokerage
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