Overview and Scope
Digital logistics refers to the automation and digitization of procedures involved in the transfer of products. This digital strategy increases data transparency for all of the suppliers and partners who are involved in every stage of supply chain management and operations management, opening up completely new opportunities for companies to reduce operating costs, eliminate productivity losses, and avoid inaccurate order fulfillment.
Sizing and Forecast
The digital logistics market size has grown rapidly in recent years. It will grow from $20.62 billion in 2023 to $24.53 billion in 2024 at a compound annual growth rate (CAGR) of 19.0%. The growth in the historic period can be attributed to globalization and supply chain complexity, e-commerce boom, focus on sustainability, rise of omnichannel retail, customer expectations for faster delivery, dynamic market conditions, regulatory compliance requirements, data-driven decision-making, focus on inventory optimization..
The digital logistics market size is expected to see rapid growth in the next few years. It will grow to $46.09 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to rapid growth in e-commerce volumes, growth of autonomous vehicles, enhanced cybersecurity measures, shift towards servitization, digital twins for supply chain visualization, cross-border trade facilitation. . Major trends in the forecast period include adoption of iot in logistics, automation and robotics in warehousing, artificial intelligence (ai) in route optimization, cloud-based logistics platforms, sustainable logistics practices, 5g connectivity for logistics networks, cybersecurity measures, predictive analytics for demand forecasting..
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Segmentation & Regional Insights
The digital logistics market covered in this report is segmented –
1) By Component: Solution, Services
2) By System: Tracking And Monitoring Systems, Information Integrated Systems, Electronic Data Interchange Systems, Database Management Systems, Fleet Management Systems, Order Management Systems
3) By Deployment Mode: Cloud, On-Premises
4) By Application: Warehouse Management, Labor Management, Transportation Management
5) By End-User Industry: Government, Aerospace, Defence, Automotive, Oil And Gas, Retail, Manufacturing, Healthcare, Other End-User Industries
North America was the largest region in the digital logistics market in 2023. The regions covered in the digital logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The exponential growth of the e-commerce industry is expected to drive the growth of the digital logistics market going forward. E-commerce refers to the online sale of tangible goods, but it can also refer to any form of a business deal made possible by the internet. The growing e-commerce industry requires a robust logistics supply chain with transparency and smooth functioning, which is made possible by digital logistics that bring visibility, and ease of operation, and removes inefficiencies while reducing costs. For instance, according to the US Department of Commerce (the US executive department responsible for creating the conditions for economic growth and opportunity) Retail Indicator Division’s Quarterly Retail E-Commerce Sales 4th Quarter 2021 report published in February 2022, e-commerce sales were $870 billion in the USA in 2021, up 14.2% from 2020 and 50.5% from 2019. E-commerce accounted for 13.2% of all retail sales in 2021 in the USA. Therefore, the exponential growth of the e-commerce industry is expected to propel the growth of the digital logistics market in the coming years.
Key Industry Players
Major companies operating in the digital logistics market report are Oracle Corporation, IBM Corporation, SAP SE, Advantech Co Ltd., AT&T Inc., Intel Corporation, Honeywell International Inc., HCLTech Ltd., Blue Yonder Inc., DigiLogistics, Hexaware Technologies Ltd., Tech Mahindra Pvt. Ltd., Samsung SDS, ORBCOMM Inc., Freightgate, Huawei Technologies Co. Ltd., WebXpress, Ramco Systems Ltd., Logisuite, ICAT Logistics, JDA Software Pvt. Ltd., Cloud Logistics, DigiLogistics Technology Ltd., Infosys Limited, Kuehne + Nagel International AG, UPS Supply Chain Solutions, Accenture plc, Capgemini SE, Cognizant Technology Solutions Corporation, Deutsche Post DHL Group, FedEx Corporation, Kenco Logistics Services LLC, Schneider Electric SE, XPO Logistics Inc.
The digital logistics market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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