Digitization in Logistics Supply Chain Market Size and Competitive Analysis by 2027
Historic Data: 2018-2019 | Base Year: 2020 | Forecast Period: 2021-2027
- Report Date : Sep 2020
- Report Code : TIPAR00013577
- Category : Technology, Media and Telecommunications
- Status : Published
- Available Report Formats :
- No. of Pages : 215
The digitization in logistics supply chain market expected to grow from US$ 13336.57 million in 2020 to US$ 23607.06 million by 2027; it is estimated to grow at a CAGR of 8.5% from 2020 to 2027.
Smart Logistics Technologies is attributing to the growth of the market. The global logistics sector is witnessing transformation as the companies are moving from traditional concepts to newer concepts. The demand for advanced technologies is mounting among the logistics players, such as raw material suppliers, logistics service providers, and manufacturers. The upsurge in internet connectivity; advent of connected technologies; and real-time monitoring, tracking, and tracing solutions generate substantial demand for the same in this sectors. This factor is catalyzing the digitization in logistics supply chain market.
The future of digitization in logistics supply chain market is promising to pertain to the development of smart logistics systems. Smart logistics offers public authorities several opportunities to enhance traffic management by enabling optimum usage of traffic systems and logistics management. Smart logistics solutions improvise efficient and easy warehousing and transportation, and facilitate the establishment of different logistics networks.
The benefits of intelligent logistics solutions are attracting many logistics players, and it is foreseen to fascinate more businesses over the years. Moreover, the development of last-mile delivery using drones also projects a significant demand for IoT-based logistics solutions to manage these drones used in deliveries. Also, over the years, the governments of various countries are anticipated to allow the usage of drones for last-mile delivery, based on numerous successful trails. Thus, smart logistics development is anticipated to drive the digitization in logistics supply chain market in the future.
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Impact of COVID-19 Pandemic on Digitization in Logistics Supply Chain Market
The COVID-19 virus outbreak has been affecting every business globally since December 2019. The continuous growth in the number of virus-infected patients has governments to put a bar on transportation of humans and goods. The manufacturing sector has witnessed severe losses due to the temporary shutdown of factories and low production volumes, which has had a negative impact on the logistics sector. Additionally, the social or physical distancing measures imposed by governments have led the logistics service providers to limit their operations. However, the logistics and supply-chain industry players are focusing on digital technologies to curb the negative effect of the pandemic on the logistics operations based on traditional logistics concepts. This is boosting the digitization in logistics supply chain market. Nonetheless, the lower volumes of production are limiting the full-fledged usage of the fleets, which is creating tremors on the logistics service providers' business, thereby leading to slower growth of digitization in logistics supply chain market.
Market Insights–Digitization in Logistics Supply Chain Market
Increasing Demand for IoT in Developing Countries
Developing countries in the world are experiencing rapid industrialization, which mainly results in increase in the number of manufacturing facilities. Various multinational companies have their manufacturing plants in several developing countries. The expansion of multinational companies to these countries generates substantial demand for strong internet capabilities to streamline numerous operations. The logistics and supply chain industries are among the key sectors of any country, and pertaining to the fast-maturing digital technologies in the two sectors mentioned above, the demand for the same is escalating in developing countries. This supports the growth of the Internet of Things (IoT) in developing countries. IoT-enabled processes boost task efficiency and reduce accidents. In addition, the IoT enables real-time monitoring, tracking, and tracing for both international and domestic transit, thereby offering higher levels of logistic visibility to the service providers and customers.
Brazil is among the developing countries that are a forefront of embracing digital logistics. The country's logistics industry is one of the prominent sectors across South America. The Brazilian government emphasizes heavily on this industry with an aim to generate substantial revenue year on year. Moreover, the country exhibits easy acceptance toward newer technologies, compared to other countries in the region. Brazil is one of the most preferred locations for expansion for various multinational companies. This substantially supports the demand for advanced logistics infrastructure. Recently, in 2019, Maersk, an industry-recognized logistics service provider, launched Twill's digital logistics solution in the country to boost competitiveness. The digital logistics solution is aimed at removing the complexities in international trade. This development in the Brazilian logistics sector is foreseen to bolster the growth of the digitization in logistics supply chain market in the country as well as several other developing countries across the globe.
Component-Based Insights
Based on component, the digitization in logistics supply chain market is segmented into solution and services. The solution segment held the largest market share in 2019.
Players operating in the digitization in logistics supply chain market are mainly focused on the development of advanced and efficient products.
- In 2020, Pagero and SAP SE inked an agreement aiming at offering extended global reach to the SAP Ariba solutions and Ariba Network. Pagero will offer B2B and B2G exchange of e-order, e-invoices, messages and order responses.
- In 2020, Advantech has collaborated with President Chain Store Corp. to develop e cold chain management, wireless e-paper, and energy monitoring solutions by using the application of artificial intelligence of things (AIoT) technology. By this, Advantech has supported 7-ELEVEN in updating the futuristic convenience store- X-STORE 3.
Digitization in Logistics Supply Chain
Published Report - Digitization in Logistics Supply Chain Market Regional InsightsThe regional trends influencing the Published Report - Digitization in Logistics Supply Chain Market have been analyzed across key geographies.
Published Report - Digitization in Logistics Supply Chain Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 13.34 Billion |
| Market Size by 2027 | US$ 23.61 Billion |
| Global CAGR (2020 - 2027) | 8.5% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
Published Report - Digitization in Logistics Supply Chain Market Players Density: Understanding Its Impact on Business Dynamics
The Published Report - Digitization in Logistics Supply Chain Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
The digitization in logistics supply chain market has been segmented as follows:
Digitization in Logistics Supply Chain Market – by Component
- Solutions
- Tracking and Monitoring
- EDI
- Fleet Management
- Order Management
- CRM
- Others
- Services
- Consulting
- Integration
- Others
Digitization in Logistics Supply Chain Market – by Organization Size
- SMEs
- Large Enterprise
Digitization in Logistics Supply Chain Market – by Industry
- Automotive
- BFSI
- Manufacturing
- IT & Telecom
- Healthcare
- Oil & Gas
- Others
Digitization in Logistics Supply Chain Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Russia
- U.K
- Rest of Europe
- Asia Pacific (APAC)
- Japan
- China
- Australia
- India
- South Korea
- Rest of APAC
- Middle East and Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Digitization in Logistics Supply Chain Market – Company Profiles
- Accenture
- Advnatech Co. Ltd.
- Cognizant
- Capgemini SE
- Hexaware Inc.
- IBM Corporation
- Oracle Corporation
- SAP SE
- Tata Consulting Services Limited
- Wipro Ltd.
Frequently Asked Questions
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
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