A recent report published by
Infinium Global Research on the digital logistic market provides in-depth analysis
of segments and sub-segments in the global as well as regional digital logistic
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional digital logistic market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of global digital logistic market. According
to the report, the global digital logistic market is projected to grow at a
CAGR of 20.3% over the forecast period of 2020-2026.
Market Insight
Logistics has introduced digital
innovations at a slower pace than other industries. As other industries such as
retail, that close links to logistics, are revolutionized by digital
technology, Hence the chances of digital disruption affecting the logistics
industry. The digital platform becomes increasingly important in the logistics
industry, allowing small companies to have a global reach and compete with the
established market players. The logistics industry suffering from significant
inefficiencies, for instance, 50% of trucks travel empty on their return
journey after making a delivery. Thus, the digital transformation for
transportation management is required to bring importance by increasing
efficiency and cutting down energy consumption and emissions in the logistic
industry.
The world's population is growing
with an increase in the number of people in emerging markets who are now able
to access global markets. The number of smartphone subscriptions is projected
to almost double to 4 billion by 2025, with all growth coming from emerging
markets. The growing global middle class and expanded Internet access,
increased demand for e-commerce will provide growing demand for the digital
logistic market. According to projections by the United Nations, two-thirds of
the world population will be living in cities by 2050, . By 2030, it has been
predicted that there will be 41 megacities with more than 10 million
population. These megacities will provide a stiff challenge for the logistics
industry with making deliveries swiftly in a polluted and traffic congestive
metropolis. This requires transportation management which further drives the
demand for the digital logistics market. As consumers become more used to
digital services, including e-commerce or apps, they expect to receive the same
quality and flexibility of service in other industries. This new consumer
attitude has implications for the logistics industry. Additionally, the
government initiative regarding environmental concerns is having an effect on
the logistics industry. Companies have to look at ways to use methods of
transportation management that reduce their overall CO2 emissions and cut down
on waste from packaging to ensure that they can offer sustainable logistics operations.
However, data security concerns are affecting the growth of the digital
logistic market. Moreover, the growing adoption of cloud-based solutions in the
digital logistic industry is providing significant growth opportunities for the
market.
North America holds the largest
market share in the digital logistic market owing to the presence of giant IT
companies and rapid technological advancements. Furthermore, the
well-established economies of these countries are able to invest heavily in
leading digital logistics solutions and services. Commercial transportation and
logistics are the backbones of the North American economy. The United States
Armed Forces uses logistics services to support army operations around the
world. The IBM Hybrid Cloud system processes 40 million unique data
transactions every day to acquire, manage, meet, and sustain the forces’
materiel needs. This service is provided to more than 65,000 users and 150
direct trading partners worldwide, and operational cost savings as high as 50%
in certain areas have been reported. Moreover, rapidly growing retail,
utilities, and service sectors are contributing to the growth of the digital
logistic market in the North American region.
Segment Covered
The report on global digital
logistic market covers segments such as type, and application. On the basis of
type, the sub-markets include software, and services. On the basis of
application, the sub-markets include warehouse management, data management and
analytics, security, and network management.
Companies Profiled:
The report provides profiles of
the companies in the market such as IBM, Honeywell Corporation, Eurotech S.P.A,
HCL Technologies, Freightgate, Blue Yonder, WebXpres, Logisuite, and Ramco
Systems.
Report Highlights:
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO analysis
of digital logistic market. Moreover, the study highlights current market
trends and provides forecast from 2020-2026. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.