Digital Logistics Market Report, Analysis by Size, Share, Business Insights, Leading Players Updates
A comprehensive overview of the Digital Logistics Market is recently added by UnivDatos Market Insights to its humongous database. The digital logistics market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the digital logistics market. The digital logistics market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the digital logistics market at the global and regional levels. Digital Logistics Market is expected to reach the market valuation of US$ 46 Billion by 2027 expanding at a significant CAGR of 18% during the forecast period (2021-2027) from US$ 15 Billion in 2020.
Market Overview
The technological advancement in the digital market and rising cloud adoption are expected to fuel the demand for digital logistic solutions. The increasing demand for fleet and warehouse management systems is expected to augment the need for digital solutions in the logistics sector. Advancements in the sensors and IoT analytics market are expected to attract logistics vendors, to invest in digital solutions. The types of digital logistics in 2020 are inventory management (cited by 46% of vendors), warehouse management systems (WMS, cited by 32%), fleet management, and others. For instance, in October 2018, Oracle, launched Oracle Blockchain Applications Cloud, a suite of services to enhance transparency in the supply chain. It is expected to help in tracking products in the supply chain on a distributed ledger, boosting the reliability of business transactions while accelerating the delivery process.
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Transportation service providers such as carriers, third-party logistics providers, and freight forwarders have traditionally composed a big market for logistics IT. In 2020, 81% of respondents tells they sell to the transportation service industry. But that number has fallen since 2019, when 93% of respondents counted transportation service providers among their customers. According to a survey in 2020, three industries play a huge role in the market as transportation services: manufacturing (81%), wholesale (81%), and retail (80%). In 2019, 55% of respondents said that their solutions were cloud-based, Software as a Service (SaaS), or hosted. But in 2020, 100% of respondents report they offer such solutions. 42% vendors gave customers a choice that they may implement solutions in the cloud or on a customer's own premises — the same as in 2019. The number of vendors who offer on-premises solutions only — already a mere 1% in 2019 — dwindled to zero in 2020.
Covid-19 Impact
The outbreak of the COVID-19 pandemic has hurt the consumer sector which contributes the most to economic growth. The retail, catering, and travel services are experiencing tremendous cash flow pressure due to declining sales and high fixed costs. The logistics and supply chain companies are under pressure due to higher emphasis of national government on the continued supply of essential commodities and healthcare products. Thus, the logistics chains are witnessing unusual and massive losses from the disruption caused by the COVID-19 pandemic. The shutdown of factories and scarcity of workforce to de-stuff cargo as well as drivers to operate trucks for cargo clearing has derailed the trade and smooth functioning of the logistics industry. Digitization of core business activities such as fleet monitoring, documentation, seamless networks of communication, the management of revenue, and building digital foundations by modernizing systems in the COVID times has helped logistics companies to shorter innovation cycles, agility, and quick solution.
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Digital Logistics Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily segmented into
Inventory Management Warehouse Management System Fleet Management OthersThe digital logistics type segment is mainly bifurcated into the inventory management, warehouse management system, fleet management, and others. In 2020, fleet management segment accounted for a maximum share in terms of revenue.
By Organization Size, the market is primarily studied into
Large Enterprises Small-Medium EnterprisesBased on organization size, the digital logistics market is fragmented into large enterprises, and small-medium enterprises. In 2020, the large enterprise segment accounted market share in terms of revenue and is expected to remain dominant during the analyzed period.
By Deployment Mode, the market is primarily studied into
Cloud On-PremisesBased on deployment mode, the digital logistics market is fragmented into cloud and on-premises. In 2020, the cloud segment accounted for more than X% revenue share.
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By Verticals, the market is primarily studied into
Retail Automotive Pharmaceuticals Food & Beverage Oil & GasBased on verticals, the retail segment is growing with a highest CAGR X% during the forecast period.
Digital Logistics Market Geographical Segmentation Includes:
North America (The United States) Europe (United Kingdom, Germany) Asia-Pacific (China, Japan, India, and South Korea) Rest of WorldBased on the estimation, North America region dominated the market in 2020.
The major players targeting the market includes
IBM Oracle SAP Intel Infosys HCL Technologies Samsung SDS Cloud Logistics Digi Logistics Tech MahindraCompetitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Digital Logistics market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the digital logistics market?
• Which factors are influencing the digital logistics market over the forecast period?
• What are the global challenges, threats, and risks in the digital logistics market?
• Which factors are propelling and restraining the digital logistics market?
• What are the demanding global regions of the digital logistics market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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