The global digital logistics market size is expected to grow from USD 17.4 billion in 2020 to USD 46.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.7%
Exponential growth in the eCommerce industry to drive the growth of the digital logistics market
NEW YORK, Sept. 25, 2020 /PRNewswire/ --
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The global digital logistics market size is expected to grow from USD 17.4 billion in 2020 to USD 46.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.7% during the forecast period. The rise in e-commerce activities requires logistics providers to operate faster and more efficiently to rapidly process small individual orders. Online customers expect order accuracy, same-day or same-hour delivery, and free returns. E-commerce companies are exploring ways to reduce order delivery times and operational costs. The e-commerce industry drives the demand for transparency, affordability, convenience, and speed in delivery as well as compelling frictionless returns. To cater to this need, it is essential to create new business models and solutions by digitalizing the logistics operations, automating material handling system, warehouse management system, and distribution management system.
By organization size, large enterprises segment to account for a largest market size during the forecast period
By organization size, large enterprises segment is expected to record at the largest market size during the forecast period.Large enterprises in the logistics industry are organizations that have a global reach of their logistics services.
These organizations have a high adoption of technologies and have more available resources.Large enterprises have abundance of resources, such as HR, required capital and budget, as well as decision making bodies, which allows them to adopt the latest technologies to advance in the sector.
There are various organizations that are leading the logistics industry, such as DHL, which leverage advanced technologies, such as automation, IoT, indoor positioning, advanced analytics, AI, and much more to cater to the high demand of logistic services across the globe.The adoption of technologies in large enterprises is higher because of high availability of resources and decision-making bodies.
In the digital logistics market, large enterprises are expected to hold a larger market size during the forecast period.
• By vertical,, manufacturing segment to hold the largest market size during the forecast period
Digital logistics solutions play an essential part in the manufacturing industry.With the right choice of the digital logistics solution, a manufacturing company can track and manage equipment and inventory, effectively scheduling maintenance to minimize maintenance and repair costs, predict the future equipment and maintenance costs, and minimize the cost of asset lifecycle management.
The manufacturing vertical is responsible for producing goods and services that support core functions of a business. One of the major challenges faced by the manufacturing sector is dealing with quick and smart response to emergency situations and costs involved in the transportation of materials and finished goods.
• By region, Asia Pacific to grow at the highest CAGR during the forecast period
The market in the Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period.The APAC region is witnessing high growth due to increasing global competition, growing penetration of smart devices, connected machines, and rising investments in smart cities.
High economic growth in developing countries, such as India, China, and Vietnam, has resulted in an increase in the number of connected solutions that consist of sensors and RFID tags, resulting in a sudden outburst of vast amounts of data.This has made digital logistics a prominent feature in the growing transportation and logistics sector of this region.
Thus, APAC is a current hotspot of the digital logistics market and attracts many companies.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 26%
• By Designation: C-Level – 55%, Director Level – 40%, Managers–5%
• By Region: North America – 30%, Europe – 35%, APAC – 25%, and RoW – 10%
The following key digital logistics vendors are profiled in the report:
• IBM (US)
• Oracle (US)
• SAP (Germany)
• AT&T (US)
• Intel (US)
• Infosys (India)
• Honeywell (US)
• Eurotech S.P.A (Italy)
• HCL Technologies (India)
• ORBCOMM (US)
• Cloud Logistics (US)
• Freightgate (US)
• Blue Yonder (US)
• Digilogistics (China)
• WebXpress (India)
• Ramco Systems (India)
• Logisuite (US)
• Impinj (US)
• Intersec (France)
• ICAT Logistics (US)
• Magaya (US)
• Softlink (India)
• Samsung SDS (South Korea)
• Hexaware (India)
• Tech Mahindra (India)
• Advantech (Taiwan))
Research Coverage
The digital logisticsmarket is segmented into Digital Logistics Market Component (Solutions and Services), Deployment (Cloud and On-Premises), Organization Size (Large Enterprises and SMEs), Function, Vertical, and Regions . A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service and product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the digital logisticsmarket.
Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways:
• It comprehensively segments the digital logisticsmarket and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new service developments, partnerships, and acquisitions.
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