Digital Logistics Market From Costs to Customer Focus: How Digital Logistics is Transforming the Market

Digital Logistics Market to reach over USD 149.37 billion by the year 2031- Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Digital Logistics Market Size, Share & Trends Analysis Report By Application (Warehouse Management, Transportation Management), Solution (Asset Management, Data Management & Analytics, Network Management, Security, Warehouse Management ),

Services (Deployment & Integration, Planning & Consulting, Support & Maintenance ), Deployment Mode (cloud and on-premises), Organization Size (large enterprises and small & medium-sized enterprises), End-user (retail & E-commerce, manufacturing, pharmaceuticals & healthcare, energy & utilities, aerospace & defense, automotive)- Market Outlook And Industry Analysis 2031"

The global Digital Logistics Market is estimated to reach over USD 149.37 billion by 2024-2031, exhibiting a CAGR of 20.82% during the forecast period.

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The Rise of Digital Logistics: Optimizing Supply Chains for the Modern Age
Digital logistics refers to the strategic integration of advanced communication and technology solutions within the logistics landscape. This approach aims to achieve several key objectives:
• Reduce operating costs
• Enhance supply chain efficiency
• Boost overall productivity
• Develop customer-centric solutions

The core aspects of digital logistics solutions include data-driven logistics planning, improved logistics performance and quality, and fostering stronger engagement with various supply chain partners.

By implementing digital logistics, companies can achieve significant cost savings, optimize inventory management, and enable more flexible operations, ultimately leading to enhanced business performance. This is precisely why companies worldwide are actively adopting these solutions to gain a competitive edge.

The increasing demand for digital logistics solutions stems from a confluence of factors, including the widespread adoption of digital technologies across industries, continuous advancements in existing solutions, and the emergence of innovative applications. Furthermore, the recent surge in digitalization has opened doors to a vast array of new opportunities. By systematically improving logistics performance and gradually reducing logistical costs, businesses can establish a sustainable competitive advantage.

List of Prominent Players in the Digital Logistics Market:
• Ramco Systems
• Samsung SDSSDS
• SAP
• Softlink
• Tech Mahindra
• We express
• Advantech
• AT&T
• Blue Yonder (Formerly Known as JDAJDA Software)
• Cloud Logistics
• Digilogistics Technology Limited
• Eurotech SPASPA.
• Freightgate Inc.
• HCLHCL Technologies
• Hexaware
• Honeywell
• IBM
• ICAT Logistics
• Impinj
• Infosys Limited
• Intel
• Intersec
• Logisuite
• Magaya
• Oracle
• Orbcomm Inc.

Market Dynamics:
Drivers-
Over the last decade, the rise in online purchases and the number of Internet users has fueled the e-commerce industry's exponential expansion. Because of the surge in e-commerce activity, logistics providers must work faster and more efficiently to fulfil small individual demands. Online shoppers expect order accuracy, same-day or same-hour delivery, and free returns. E-commerce companies are seeking ways to reduce order delivery times and operational costs.

Challenges:
One of the most significant barriers to the wide acceptance of digital logistics is a lack of governance. The logistics industry is very fragmented, necessitating the development of a logistics IoT standard. To retain profitability and viability, global transportation and logistics industries are working on boosting supply chain efficiency. Because having one authority per field would be confusing, keeping governance as consistent as possible is necessary.

Regional Trends:
Asia Pacific Digital Logistics Market is expected to register a major market share in terms of revenue and is projected to grow at a high CAGR in the near future due to the use of digital technology in nations such as China and India, etc. Technological breakthroughs such as IoT, AI, and cloud computing help to drive market growth. In the midst of several challenges, including the COVID-19 pandemic,

China's logistics sector is embracing digital technologies to boost productivity. Because of the fast adoption of digital logistics goods, North America is likely to increase at a high rate. The expanding E-commerce sector, widespread acceptance of cloud technology, and globalization of retail marketplaces are all offering enough prospects in the digital logistics market.

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Recent Developments:
• In May 2022, IBM announced the signing of a Strategic Collaboration Agreement (SCA) with Amazon Web Services, Inc. (AWS), with plans to offer a significant portion of its software catalogue as Software-as-a-Service (SaaS) on AWS. IBM and AWS's relationship will help with supply chain digitalization.
Segmentation of Digital Logistics Market-
By Component-
• Solution
o Asset Management
o Data Management & Analytics
o Network Management
o Security
o Warehouse Management
• Service
o Deployment & Integration
o Planning & Consulting
o Support & Maintenance
By Application-
• Transportation Management
• Warehouse Management
• Workforce Management
By Deployment Mode-
• Cloud
• On-Premises
By Organization Size-
• Large Enterprises
• Small & Medium-Sized Enterprises
By End-user-
• Aerospace & Defense
• Automotive
• Energy & Utilities
• Manufacturing
• Pharmaceuticals & Healthcare
• Retail & E-Commerce
• Other End-users
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.