Digital Logistics Market Analysis
Digital logistics refers to the use of digital technology to automate and optimize logistics processes in the supply chain. Digital logistics involves the digitization of data collection, analysis, and management in order to improve visibility, efficiency, and customer service. This can include the use of technologies such as artificial intelligence, machine learning, predictive analytics, and the Internet of Things (IoT) to optimize the movement of goods and information across the supply chain.
Digital Logistics Market Growth is Predicted to Reach US$ 79.12 Billion by 2030 Registering a CAGR of 17.12%
Benefits of digital logistics can include increased speed and accuracy of information, improved visibility and control over inventory, and more efficient use of resources such as transportation and warehousing. Additionally, digital logistics can help to reduce costs and improve customer satisfaction by enabling faster delivery times and more accurate order fulfillment.
The MRFR report throws light on an inclusive segmental analysis of the global digital logistics market based on verticals, applications, and component.
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By component, the global digital logistics market is segmented into system and services. The systems segment is again bifurcated into electronic data interchange systems, tracking and monitoring systems, information integrated systems, fleet management systems, order management systems, and database management systems. The services segment is again bifurcated into system integration services and consulting service. Of these, the data base management segment will lead the market over the forecast period.
By applications, the global digital logistics market is segmented into labor management, transportation management, and warehouse management.
By verticals, the global digital logistics market is segmented into retail, manufacturing, healthcare, aerospace, defense, government, automotive, and others. Of these, the manufacturing sector will dominate the market over the forecast period.
Digital Logistics Market Regional Analysis
By region, the global digital logistics market revenue covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America and the Rest of the World (RoW). Of these, North America will dominate the market over the forecast period.
Increasing penetration of digital systems and technologies like electronic data interchange and radio frequency identification, increasing adoption in automotive, defense, healthcare, and other industries, increasing demand for digital and mobile communication, and growing use for real-time location access, movement of assets and delivery notifications are adding to the global digital logistics industry growth.
In Europe, the global digital logistics market is predicted to have the second-largest share over the forecast period for the increasing use of next generation of cloud services.
In the APAC region, the global digital logistics market is predicted to grow at a fast pace over the forecast period. Increasing penetration of internet connectivity, booming e-commerce industry, growing transportation business, the expansion of business in untouched areas, developing regional e-commerce sector, the adoption of newer technologies, increasing global competition, increasing penetration of smart devices and connected machines, high economic growth in Vietnam, China, and India, and increasing investments in smart cities are adding to the global digital logistics market growth in the region. India, Japan, and China have the utmost market share.
In RoW, the global digital logistics market is predicted to have sound growth over the forecast period.
Digital Logistics Market Key Players
The notable players profiled in the global digital logistics market report include Hexaware Technologies (India), JDA Software Group, Inc. (U.S.), Huawei Technologies Co., Ltd. (China), International Business Machines Corporation (U.S.), Advantech Co. (Taiwan), HCL Technologies Limited (India), Samsung Group (South Korea), Oracle Corporation (U.S.), SAP SE (Germany), and Tech Mahindra (India), among others. Mergers and acquisitions, partnerships, collaborations, joint ventures, new product launch and development, geographic expansions, and others are the key factors used by industry players to stay ahead and also cater to the burgeoning needs of customers.
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Industry Updates
March 2021- Amsted Digital Solutions has acquired GeoMetrix Rail Logistics with an aim to expand its digital footprint.
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