The major players such as Tech Mahindra (India), SAP SE (Germany), Oracle Corporation (U.S.), International Business Machines Corporation (U.S.), Huawei Technologies Co., Ltd. (China), are the leading providers of digital logistics solutions across the world. On March 14, 2018, FarEye, a leading provider of digital logistics platform, has introduced ORBIT which is a supply chain visibility suite. With this product, the company is providing the enterprises with solutions for complete visibility of their products and goods, transported from the manufacturing unit to the allotted location. The technological advancement of cloud-based services is another factor propelling the market growth.
The factors driving the Digital Logistics Market growth are the large volume of data and improved logistics operations which are boosting the market growth to a large extent. The digital logistics is a process that makes the logistic operation smarter with the help of digital technology. The increasing demand for digital technology is propelling the growth of digital logistics market. On Apr 07, 2018, International Business Machines Corporation went into partnership with Koopman Logistics Group with the sole aim of providing supply chain digitization services to their customers. With the growing e-Commerce industries, the digital logistics market is projected to gain momentum in the forthcoming years. The e-Commerce industries have a huge demand for digital logistics as it facilitates logistics and supply chain operations.
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Some of the prominent players in the global digital logistics market Tech Mahindra (India), SAP SE (Germany), Oracle Corporation (U.S.), Samsung Group (South Korea), HCL Technologies Limited (India), Advantech Co. (Taiwan), International Business Machines Corporation (U.S.), Huawei Technologies Co., Ltd. (China), JDA Software Group, Inc. (U.S.), Hexaware Technologies (India) among others.
Segmentation of Digital logistics Market
The global digital logistics market is segmented on the basis of component, applications, verticals, and region. The component segment is further sub-segmented as services and system. Furthermore, the system is sub-segmented into database management systems, order management systems, fleet management systems, information integrated systems, tracking and monitoring systems, and electronic data interchange systems. Moreover, services are sub-segmented into consulting services and system integration services. The applications are sub-segmented into warehouse management, transportation management, and labor management. The verticals are segmented into automotive, government, defense, aerospace, healthcare, manufacturing, retail, and others. The market is covered across regions including North America, Europe, Asia Pacific, and Rest of the World.
The global digital logistics market is estimated to reach USD ~ 19 billion by the end of the forecast period of 2023, at a CAGR of ~11%.
The regional analysis of digital logistics market is done for regions such as North America, Asia Pacific, Europe, and the Rest of the World. North America is the witnessing high growth due to increasing penetration of digital technologies and systems such as radio frequency identification, electronic data interchange, and others, which is propelling the market of digital logistics. In the European region, the digital logistics market is gaining popularity due to next generation of cloud services which is propelling the market growth. Whereas, Asia Pacific countries, including China, Japan, and India, are the emerging markets for digital logistics, and it is expected to gain momentum with the increasing proliferation of internet connectivity and grow with the highest CAGR in the coming years.
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- Digital logistics companies
- Digital logistics providers
- Computer graphics developers
- System integrators and third-party vendors
- Government bodies
- Technology investors
- Research institutes and organizations
- Market research and consulting firms
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