Global Digital Logistics Market: Overview
Logistics play a vital role in the supply chain management and helps in proficiently handling any business. Logistics is the process of management of things from point of origin to point of consumption of the customers. Changing dynamics and industrial demand for innovative solutions are increasing the market demand. Digital Logistics offer several advantages to the companies by providing enhanced efficiency, profitability, lowering the costs, customer-centric solutions, and improving the supply chain. Thus, different enterprises across the world are accepting these solutions to gain a competitive edge in the industry. Digital logistics use advanced technologies and communication in order to enhance supply chain and improve the supply chain integration by reducing the operating costs.
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Global Digital Logistics Market: Growth Factors
Digital logistics are extensively being adopted at a rapid rate; the emergence of the innovative applications and advancing capacities of the existing solutions are major factors responsible for the market growth. Digital technology is coupled with innovative applications which are a major driving factor for the global market. Digital logistics cut down the cost and time and its higher percentage of adoption will positively influence the digital logistics market in the coming years. It is capable of transferring digital logistics and improving the service quality. These qualities make digital logistics highly effective for the overall industry. However, lack of proper ICT infrastructure, issues with security, privacy, and reliability are some of the factors that are hampering the global digital logistics market growth. In addition, system scalability and expensive data communication also restrain the market growth.
Global Digital Logistics Market: Segmentation
The global digital logistics market is diversified on the basis of industries, systems, services, and applications. The industries segment is classified into engineering, retail, government, automotive, life sciences, manufacturing, oil & gas, defense, chemical, aerospace, industrial, telecom & IT, healthcare, and others. Based on systems, the market is classified into electronic data intelligence, information integrated tracking, order management, monitoring, fleet management, and database management. The services segment is divided into consulting services, system integration services, and other services. On the basis of application, the market is segregated into warehouse management, labor management, and transportation management.
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Global Digital Logistics Market: Regional Analysis
Region-wise, the global digital logistics market is diversified into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to hold the largest market chunk owing to the best practice in digital logistics. Europe is following the same trend due to rapid industrialization and widespread application of the digital logistics is fuelling the market growth.
Global Digital Logistics Market: Competitive Players
Major leading players in the global digital logistics market are Hexaware Technologies Ltd., IBM Corp., Tech Mahindra Ltd., Oracle Corp., and UTi Worldwide Inc. Other prominent market players include DigiLogistics Technology Ltd., SAP AG, Advantech Corp., JDA Software Group Inc., and Samsung Electronics Co.
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