Digital logistics market value to exceed USD 160.1 billion

Pune, July 11, 2024 (GLOBE NEWSWIRE) — Digital Logistics Market Growth Analysis:

“According to SNS Insider Research, Digital Logistics Market estimated price is $29.65 B$160.1 billion in 2023 and is expected to reach $160.1 billion by 2032, with a compound annual growth rate of 20.6% during the forecast period 2024–2032.”

Growing demand for digitalization and automation

The digital logistics market is growing as the growing e-commerce industry requires efficient and transparent logistics solutions. This, integrated with the growing trend of intelligent automation and generative AI, is helping to drive market growth. Generative AI enables logistics companies to automate repetitive tasks, improve customer satisfaction, and operate predictively. It improves warehouse management processes, labor management, shipping management, and real-time communication.

Generative AI is a revolutionary technology that automates traditional logistics work and enables corporations to function predictively. Internet of Things (IoT) is revolutionizing logistics by enabling real-time monitoring of goods. Sensors and devices embedded in various vehicles, cargo bays, and infrastructure offer valuable data on area, temperature, and other important elements. This fact allows logistics companies to decorate visibility, reduce operational risk, and make informed decisions. In addition, IoT facilitates the connection of real estate in the supply chain, enabling effective evaluation of advanced warehouse logistics, shipping management, and fleet management.

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Analysis of the main players mentioned in this report are:

Key players include Huawei Technologies Co., Ltd, IBM, Honeywell, Oracle Corporation, SAP, Intel, HCL Technologies, Blue Yonder, HCL Technologies Limited, AT&T, Cloud Logistics, Infosys, Eurotech SPA, ORBCOMM, Freightgate, WebXpress, Logisuite, ICAT Logistics, Magaya, Hexaware, Tech Mahindra, Advantech and other players

Last changes

SGTraDexa trade data exchange platform, entered into cooperation with shipping lines OOCL, PIL and ONE in August 2023. This cooperation builds on existing cooperation focused on digital innovation in logistics.

The new agreement aimed to create a data-driven ecosystem for logistics. It will achieve this by encouraging the use of digital solutions and data sharing through SGTraDex, engaging land-based logistics players and industry software providers.

April 2023 Wasp Commercesupply chain technology company, announced a partnership with Techdinamics. The collaboration was designed to help brands, retailers and logistics providers implement digital innovations. The Osa platform would provide real-time order visibility, while Techdinamics would bring integration and fulfillment solutions.

In October 2023, the courier company UPS acquired Happy Returns, a reverse logistics company. The acquisition allows UPS to offer a broader range of virtual logistics responses. Happy Returns specializes in streamlining the returns experience for both buyers and agencies.

Scope of the report on the digital logistics market:

Report Attributes	Details
Market size in 2023	$29.65 billion
Market size by 2032	$160.1 billion
CAGR	CAGR 20.6% from 2024 to 2032
Base year	2023
Forecast period	2024-2032
Historical data	2020-2022
Key regional reach	North America (USA, Canada, Mexico), Europe (Eastern Europe (Poland, Romania, Hungary, Turkey, rest of Eastern Europe), Western Europe), Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, rest of Western Europe), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, rest of Asia Pacific), Middle East and Africa (Middle East (UAE, Egypt, Saudi Arabia, Qatar, rest of Middle East), Africa (Nigeria, South Africa, rest of Africa), Latin America (Brazil, Argentina, Colombia, rest of Latin America)
Key growth factors	• Growing demand in the digital logistics market due to the spread of the Internet and the significant increase in online shopping and the development of e-commerce. • Increasing automation and generative AI are also contributing significantly to the market growth.

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Segment analysis

As a result of implementation, At location implementation held a dominant share of over 71% in 2023 due to its appeal to organizations seeking complete control over their logistics methods. However, the cloud segment is expected to register the highest growth rate of 20.8% due to the flexibility, scalability, and cost-effectiveness it offers.

Due to the function, transport management held the largest market share of over 38% in 2023, owing to its important role in supply chain optimization and timely handover. However, the labor control segment is expected to grow at the highest growth rate as vendors increasingly incorporate user-friendly interfaces and gamification features to enhance accessibility and increase efficiency.

Perpendicularly, production This segment dominated the market in 2023 due to the use of digital logistics for on-time delivery of raw materials and inventory management, accounting for the largest share of over 28%.

Key segmentation of the digital logistics market:

By function

By components

• Solution
  • Asset management
  • Warehouse management
  • Data Management and Analytics
  • Network Management
  • Tracking and monitoring system
  • Security
  • Fleet management system
• Services
  • Planning and Consulting Services
  • Implementation and Integration Services
  • Support and maintenance

By implementation mode

By size of organization

By vertical

• Retail and e-commerce
• Production
• Pharmaceuticals and healthcare
• Aviation and Defense
• Automotive
• Energy and media
• Others

North America maintains dominance, Asia Pacific will witness high growth

North America dominance is driven by the presence of large IT corporations, highly skilled workers, and a solid research infrastructure focused on automation. Well-established economies in the region allow for massive investments in digital logistics solutions. Regulatory developments and rapid growth in the retail, utilities, and services sectors are further contributing to the market growth.

Asia Pacific is expected to grow at a significant growth rate of 20.85%, owing to the increasing adoption of digital technologies in countries such as China and India. Government initiatives to promote digital platforms for logistics delivery and support global supply chain enterprises are driving the market growth. China’s focus on optimizing domestic market infrastructure and India’s national logistics policy aimed at reducing costs and increasing competitiveness are expected to drive further growth in the region.

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Key takeaways for the digital logistics market

• Generative AI is transforming logistics by automating tasks, streamlining communications, and enabling data-driven decision-making.
• The increasing use of the Internet of Things and real-time monitoring improves transparency and operational efficiency.
• The digital logistics market is experiencing tremendous growth driven by e-commerce, automation and the implementation of advanced technologies such as generative AI.
• North America dominates the market, but the fastest boom is expected in the Asia-Pacific region due to government projects and rapid technology implementation.

Table of Contents – Key Points

1. Introduction

2. Industry Flow Chart

3. Research methodology

4. Market dynamics

5. Porter’s 5 Forces Model

6. Pest Analysis

7. Digital Logistics Market Segmentation by Function

8. Digital Logistics Market Segmentation by Components

9. Digital logistics market segmentation by implementation mode

10. Digital logistics market segmentation by organization size

11. Digital Logistics Market Segmentation by Vertical

12. Regional analysis

13. Company profiles

14. Competitive Landscape

15. Use Case and Best Practices

16. Conclusions

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