Digital shipment refers to use of digital means to transport goods assigned by the consumer from one place to another via land, sea, or air as required. Digitization has contributed significantly to the shipment by improving the overall efficiency of the complete process. Moreover, adoption of digital shipment method has reduced all the manual procedures making the process fast and reliable. Furthermore, all the information regarding shipment cost, delivery time, method of transportation, and others are available at one platform without hassle free paper works. In addition, main advantage of digital shipment is it removes all the middleman in the shipment process thus, reducing the shipment cost. Also, digital shipment includes instant pricing, comparison of rates & carriers, easy documentation, and shipment tracking. All the shipping companies are adopting digital technology for their shipment since, it has improved the level of operation to a great level. The customers are also satisfied with the advance tracking feature and low cost of shipment.
COVID-19 Impact Analysis:
Due to COVID-19 pandemic government across major countries have announced lockdown leading to business shutdown. The lockdown imposed has severely affected digital shipment since there was travel restrictions. Moreover, the delay in delivery of goods had caused huge losses for the shipping companies also, there were cancellation of lot of orders due unavailability of delivery options. Furthermore, there was unavailability of workforce due to social distancing norm which further affected the shipment process. In addition, there were also lack of server maintenance during this period which led website crashes and consumers found it difficult to use digital shipment. Also, e-commerce websites were selling only essential goods during this period which reduced the demand digital shipment. Global shipping industry is an evolving sector which had a slight setback due to the pandemic, but it is expected to recover post pandemic very soon and drive growth of digital shipment market.
Top Impacting Factors
- Rise in e-commerce industry, rise in demand for cost-effective method of transportation, and rise in demand for real-time tracking is expected to drive growth of the market.
- However, shipping delay and lack of skilled workforce can hamper growth of the market.
- Moreover, rise in technological advancement, rise in better transportation methods, and rise in investment in shipping companies act as an opportunity for growth of the market.
Rise in e-commerce industry
Rise in e-commerce industry has contributed significantly towards the rise in demand for digital shipment. Since, with the rise in disposable income consumers are purchasing more and more goods from e-commerce websites. Furthermore, e-commerce goods shipment provides the consumers with features such as real time tracking and expected delivery time of their order which will boost the growth of digital shipment market. For instance, in 2020, retail e-commerce sales worldwide amounted to around $4.29 trillion, and the revenues are expected to grow even further at a quicker pace in the coming few years. Moreover, online shopping is one of the most popular online activities worldwide, both domestic and cross-border e-commerce is booming in developing markets such as China, India, and Indonesia. Therefore, to rise in e-commerce industry directly impact the growth of shipping industry which is expected to drive growth of digital shipment market.
Key Benefits of the Report:
- This study presents the analytical depiction of the digital shipment market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the digital shipment market.
- The current market is quantitatively analyzed to highlight the digital shipment market growth scenario.
- The report provides detailed digital shipment market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the digital shipment market research report:
- Which are the leading market players active in the digital shipment market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the digital shipment market?
- What are the projections for the future that would help in taking further strategic steps?
Digital Shipment Market Report Highlights
By Deployment Method
Key Market Players
CMA CGM Group, Yang Ming Marine Transport Corporation, Mediterranean Shipping Co. SA, COSCO SHIPPING International (Hong Kong) Co. Ltd., Evergreen Group, A.P. Moller - Maersk AS, Hapag Lloyd, HYUNDAI Merchant Marine Co. Ltd, Ocean Network Express Pte. Ltd, ZIM Integrated Shipping Services Ltd.