The use of advanced technology and communication in logistics, which helps to reduce operating costs, improves supply chain, enhances overall efficiency, and provide customer centric solutions, is termed as Digital Logistics. Acceptance of data driven logistics plans, enhanced performance and quality of logistics, and improved collaboration with various supply chain partners are some of the salient features of digital logistics solutions. Digital logistics gives companies premium performance by providing flexible operations, and minimizing the costs and inventories. As a result, companies from all over the world are adopting these solutions to gain competitive advantages. Some of the factors contributing to the growth of the digital logistics market are high rate of adoption of digital technology, upgrading capacities of the existing solution, and innovative applications, among others.
The digital logistics market is driven by various factors such as use of applications in logistics, high volume of data and improved service quality, and rapid of growth of IT solutions for the business. Rapid rate of adoption is considered as one of the major drivers of the market. Security, privacy, and lack of IT infrastructure restrain the adoption of digital logistics products. Growing E-commerce sector, high adoption of cloud technology, and globalization of the retail markets are creating sufficient opportunities in the digital logistics market. However, the expensive data exchange charges between the devices required for the communication are a major challenge for the digital logistic market.
The digital logistics market is characterized by intense competition and presence of regional as well as international players. The key market players are adopting strategies such as collaboration, acquisition, and technological innovation to extend their market reach. For example GE Oil and Gas Inc. acquired Advantech Co. in October 2015 to fuel the innovation of Advantech Co.
The report segments the digital logistics market on the basis of product, application, industry vertical, and geographic region. The product is further bifurcated into system and service. On the basis of system, it is divided into tracking and monitoring system, information integrated system, information integrated system, electronic data interchange system, database management system, fleet management, and other management system. The service segment includes consulting, system integration, and other classification. The application segment is categorized into warehouse, labor, and transport management. Based on industry vertical, the global digital logistics market is segmented into banking, financial, and insurance (BFSI), aerospace & defense, healthcare, public sector, IT & telecom, retail, and others. Geographic breakdown and deep analysis of each of the aforementioned segments is included for North America, Europe, Asia-Pacific, and LAMEA.
Most of the organizations are adopting digital logistics systems to update themselves as the times change, to be more flexible and competitive in the market. The major players of this market are Advantech Co., Ltd, SAP SE, IBM Corporation, Oracle Corporation, Tech Mahindra, HCL Technologies Limited, Huawei Technologies Co., Ltd, SAMSUNG ELECTRONIC LOGITECH Corporation, JDA Software Group, Inc., and Hexaware Technologies.
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global digital logistics market.
- In-depth analysis has been done in this report by constructing market estimations for the key market segments between 2017 and 2022.
- Geographically, the digital logistics market is analyzed based on various regions such as North America, Europe, Asia-Pacific, and LAMEA.
- This report entails the detailed quantitative analysis of the current market and estimations through 2016-2023, which assists in identifying the prevailing market opportunities.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework
- Comprehensive analysis of all regions is provided that determines the prevailing opportunities in these geographies
- Comprehensive analysis of factors that drive and restrict the growth of the global digital logistics market is provided. For instance, increasing need of operational efficiency drives the global digital logistics market however lack of IT infrastructure is likely to be a major restraint of the market.
World Digital Logistics Market Key Segments:
- Tracking and Monitoring System
- Information Integrated System
- Electronic Data Interchange System
- Database Management System
- Fleet Management
- Order Management System
- System Integration
- Warehouse Management
- Labor Management
- Transport Management
By Industry Verticals
- Banking, Financial Services, and Insurance
- Aerospace & Defense
- Public Sector
- IT & Telecom
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East