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Global Digital Logistics Market Comprehensive Study: Forecasted Market Size And Growth Rate | Oracle Corporation, IBM Corporation, SAP SE, Advantech Co Ltd., AT&T Inc., Intel Corporation
Digital Logistics Market Characteristics
The Business Research Company offers in-depth market insights through Digital Logistics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The digital logistics market size has grown rapidly in recent years. It will grow from $20.62 billion in 2023 to $24.53 billion in 2024 at a compound annual growth rate (CAGR) of 19.0%. The growth in the historic period can be attributed to globalization and supply chain complexity, e-commerce boom, focus on sustainability, rise of omnichannel retail, customer expectations for faster delivery, dynamic market conditions, regulatory compliance requirements, data-driven decision-making, focus on inventory optimization..
The digital logistics market size is expected to see rapid growth in the next few years. It will grow to $46.09 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to rapid growth in e-commerce volumes, growth of autonomous vehicles, enhanced cybersecurity measures, shift towards servitization, digital twins for supply chain visualization, cross-border trade facilitation. . Major trends in the forecast period include adoption of iot in logistics, automation and robotics in warehousing, artificial intelligence (ai) in route optimization, cloud-based logistics platforms, sustainable logistics practices, 5g connectivity for logistics networks, cybersecurity measures, predictive analytics for demand forecasting..
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Market Segmentation:
The digital logistics market covered in this report is segmented -
1) By Component: Solution, Services
2) By System: Tracking And Monitoring Systems, Information Integrated Systems, Electronic Data Interchange Systems, Database Management Systems, Fleet Management Systems, Order Management Systems
3) By Deployment Mode: Cloud, On-Premises
4) By Application: Warehouse Management, Labor Management, Transportation Management
5) By End-User Industry: Government, Aerospace, Defence, Automotive, Oil And Gas, Retail, Manufacturing, Healthcare, Other End-User Industries
Major Driver - E-Commerce Expansion To Drive Digital Logistics Market Growth
The exponential growth of the e-commerce industry is expected to drive the growth of the digital logistics market going forward. E-commerce refers to the online sale of tangible goods, but it can also refer to any form of a business deal made possible by the internet. The growing e-commerce industry requires a robust logistics supply chain with transparency and smooth functioning, which is made possible by digital logistics that bring visibility, and ease of operation, and removes inefficiencies while reducing costs. For instance, according to the US Department of Commerce (the US executive department responsible for creating the conditions for economic growth and opportunity) Retail Indicator Division's Quarterly Retail E-Commerce Sales 4th Quarter 2021 report published in February 2022, e-commerce sales were $870 billion in the USA in 2021, up 14.2% from 2020 and 50.5% from 2019. E-commerce accounted for 13.2% of all retail sales in 2021 in the USA. Therefore, the exponential growth of the e-commerce industry is expected to propel the growth of the digital logistics market in the coming years.
Competitive Landscape:
Major companies operating in the digital logistics market report are Oracle Corporation, IBM Corporation, SAP SE, Advantech Co Ltd., AT&T Inc., Intel Corporation, Honeywell International Inc., HCLTech Ltd., Blue Yonder Inc., DigiLogistics, Hexaware Technologies Ltd., Tech Mahindra Pvt. Ltd., Samsung SDS, ORBCOMM Inc., Freightgate, Huawei Technologies Co. Ltd., WebXpress, Ramco Systems Ltd., Logisuite, ICAT Logistics, JDA Software Pvt. Ltd., Cloud Logistics, DigiLogistics Technology Ltd., Infosys Limited, Kuehne + Nagel International AG, UPS Supply Chain Solutions, Accentur*e plc, Capgemini SE, Cognizant Technology Solutions Corporation, Deutsche Post DHL Group, FedEx Corporation, Kenco Logistics Services LLC, Schneider Electric SE, XPO Logistics Inc.
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Top Trend - Technological Advancement Driving Innovation In Digital Logistics
Technological advancement is a key trend gaining popularity in the digital logistics market. Major companies operating in the digital logistics market are focused on research and development for designing technologically advanced digital logistics solutions enabling different use cases in connected logistics. Such as advanced solutions provide companies with a competitive edge in the market. For instance, in September 2022, XPO Logistics, a US-based transportation company, launched its integrated digital customer service management platform, called Assist, across the Iberian Peninsula. This innovative platform aims to simplify customer account service requests and processes, offering efficient communication tools and instant visibility into the status of customer inquiries. The integration of Assist has resulted in quicker responses to customer queries, thanks to the decreased time spent by customer service staff on administrative tasks.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Digital Logistics Market Characteristics
3. Digital Logistics Market Trends And Strategies
4. Digital Logistics Market - Macro Economic Scenario
5. Digital Logistics Market Size And Growth
…..
27. Digital Logistics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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