A recent report published by
Infinium Global Research on digital logistics market provides in-depth analysis
of segments and sub-segments in the global as well as regional digital logistics
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional digital logistics market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global digital logistics market.
According to the report, the global digital logistics market is projected to
grow at a CAGR of 21.7% over the forecast period of 2021-2027.
Digital logistics market was
valued at USD 21.9 million in 2021 and is expected to reach USD 70.9 million in
2027, with a CAGR of 21.7% during the forecast period. Digital logistics
solution to manage supply chains, accelerate fulfillment activities as well as
ensure that there is end-to-end visibility in inventory, orders, and shipments
across the supply chain. Digital logistics reduce network-wide inventory
levels, increase customer satisfaction, and respond vigorously to logistics
events. There is a central command and control center to aid decision-making
that makes the system very efficient. There is increased visibility to
performance metrics owing to digital logistics that helps in continuous
improvement. All information is available online and allows people to filter
information and gain inclusive knowledge on problems if any.
Digital systems offer lifetime
management of assets and also enable users to find out the real-time location,
availability, and movement of assets that drives the demand for them. Digital
logistics also recognize the opportunity to automate transportation processes
and carrier operations, as well as labor management and employee engagement
strategies. Digital logistics are helping the logistic companies in reducing
incurred costs which also drives the market growth. Many digital logistics
platforms incorporate an element of machine learning to help make critical,
data-informed decisions and continually drive improvement to your supply chain
processes. It is ideal for any organization wanting to optimize its operations
and focus on Digital transformation and thriving digitally. However, security
and safety concern about digital logistics hampers the market growth. Moreover,
the emergence of digital technology in developing regions is providing growth
opportunities to the market players. The effects of COVID-19 have been quick
and substantial on global digital logistics. The pandemic is shifting the
global dynamics and resulted in being a major disrupter. The application
industries are majorly affected by the coronavirus. Manufacturing companies
across the world are now focusing on developing plans to decrease the
aftershocks of this pandemic. The lockdown and restrictions by governments have
led to significant distress to supply bases, assembly plant closures, as well
as further downshift to the declining consumer demand.
Geographically, North America
dominated the global digital logistics market in 2020 and is projected to
remain dominant during the forecast period owing to the rise in spending on
transportation & logistics. Asia-Pacific is expected to grow at the fastest
rate in the global digital logistics market over the forecasted period.
Asia-Pacific region is the largest manufacturer of electronics worldwide as the
countries such as Thailand, South Korea, Taiwan, China, and others have
advanced electronic manufacturing facilities. China is known as the factory of
the world and the country holds the largest market share in the Asia-Pacific
digital logistics market. Thus, logistics and transportation play a huge role
in this region. This is expected to result in huge demand for logistics
automation.
The report on global digital
logistics market covers segments such as component, function, and industry
vertical. On the basis of component, the sub-markets include solution. On the
basis of function, the sub-markets include warehouse management, and workforce
management. On the basis of industry vertical, the sub-markets include retail
and ecommerce, pharmaceuticals and healthcare, aerospace and defense,
automotive, energy and utilities, and others.
The report provides profiles of
the companies in the market such as IBM Corporation, Samsung Electronics Co.
Ltd., Tech Mahindra, SAP SE, Oracle Corporation, HCL Technologies Limited,
Advantech Co., Huawei Technologies Co., Ltd., and Hexaware Technologies.
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 logistics market. Moreover, the study highlights current
market trends and provides forecast from 2021-2027. 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.