The global digital logistics market is estimated to garner a hefty amount of revenue and grow at a CAGR of ~11% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing requirement for cost-effective logistics, rising adoption of cloud-based services by small and medium sized enterprises, and increasing data volume in the logistics industry. More than 75% of small businesses are evaluated to adopt cloud computing by the end of 2021. In 2020, 82% of SMEs reported to have witnessed reduced costs as a result of adoption of this technology. Along with these, rapid technological advancements in digital marketing, and rise in investments by governmental and non-governmental organizations on technologies such as AI, big data and IoT are also expected to drive market growth in the forthcoming years. Furthermore, robust growth in the e-commerce industry in the last decade is projected to offer ample opportunities for the expansion of digital logistics market in the near future. CLICK TO DOWNLOAD SAMPLE REPORT
The market is segmented by type into inventory management, warehouse management system (WMS), data management & analytics, and fleet management, out of which, the data management & analytics segment is anticipated to hold the largest share in the global digital logistics market. This can be accounted the fact that data management solutions play a crucial role in IoT devices for the collection of huge amounts of data and drawing informative insights from the same. In addition, real-time analytics help in yielding greater productivity, profitability and efficiency to logistics processes, which is another factor assessed to boost the growth of the market segment. Moreover, on the basis of deployment, the cloud segment is predicted to observe the highest growth over the forecast period in view of the benefits offered to organizations related to the adoption of cloud solutions such as ease of management, flexibility and scalability.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global digital logistics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Latin America region is estimated to witness noteworthy growth over the forecast period on the back of growing technological advancements in cloud, AI and IoT, increasing penetration of mobile devices, and growing establishment of SMEs in many South American countries, especially in Brazil. For instance, in 2018, 75% business buyers in Brazil believed that AI can represent good opportunities to businesses. Furthermore, more than 65% were already using AI and were satisfied with the organizational transformation in the country. Additionally, the market in North America is evaluated to occupy the largest share over the forecast period owing to the strong presence of prominent IT companies and intensifying technological advancements in digital logistics. Apart from these, rising developments in commercial transport in the region is also expected to drive market growth in the future.
The global digital logistics market is further classified on the basis of region as follows:
Our in-depth analysis of the global digital logistics market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major growth drivers for the market are rising implementation of cloud-based services by SMEs and rapid growth of e-commerce industry.
The market is anticipated to attain a CAGR of ~11% over the forecast period, i.e., 2022 – 2030.
High capital investment needed for adopting digital logistics is estimated to hamper the market growth.
Latin America will provide more opportunities for business growth to the market owing to the growing advancements in cloud, AI and IoT technologies in the region.
The major players in the market are Oracle Corporation, IBM Corporation, SAP Group, Intel Corporation, AT&T Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, deployment, vertical, and by region.
The cloud segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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