Digital Logistics Market - Size, Share, Demand, Trends, And Key Drivers || Oracle Corporation, IBM Corporation, SAP SE, Advantech Co Ltd., AT&T Inc

The digital logistics market size has grown rapidly in recent years. It will grow from $20.62 billion in 2023 to $24.53 billion in 2024 at a compound annual growth rate (CAGR) of 19.0%. The growth in the historic period can be attributed to globalization and supply chain complexity, e-commerce boom, focus on sustainability, rise of omnichannel retail, customer expectations for faster delivery, dynamic market conditions, regulatory compliance requirements, data-driven decision-making, focus on inventory optimization.

The digital logistics market size is expected to see rapid growth in the next few years. It will grow to $46.09 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to rapid growth in e-commerce volumes, growth of autonomous vehicles, enhanced cybersecurity measures, shift towards servitization, digital twins for supply chain visualization, cross-border trade facilitation. . Major trends in the forecast period include adoption of iot in logistics, automation and robotics in warehousing, artificial intelligence (ai) in route optimization, cloud-based logistics platforms, sustainable logistics practices, 5g connectivity for logistics networks, cybersecurity measures, predictive analytics for demand forecasting.

Market Overview -
Digital logistics refers to the automation and digitization of procedures involved in the transfer of products. This digital strategy increases data transparency for all of the suppliers and partners who are involved in every stage of supply chain management and operations management, opening up completely new opportunities for companies to reduce operating costs, eliminate productivity losses, and avoid inaccurate order fulfillment.

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E-Commerce Expansion To Drive Digital Logistics Market Growth
The exponential growth of the e-commerce industry is expected to drive the growth of the digital logistics market going forward. E-commerce refers to the online sale of tangible goods, but it can also refer to any form of a business deal made possible by the internet. The growing e-commerce industry requires a robust logistics supply chain with transparency and smooth functioning, which is made possible by digital logistics that bring visibility, and ease of operation, and removes inefficiencies while reducing costs. For instance, according to the US Department of Commerce (the US executive department responsible for creating the conditions for economic growth and opportunity) Retail Indicator Division's Quarterly Retail E-Commerce Sales 4th Quarter 2021 report published in February 2022, e-commerce sales were $870 billion in the USA in 2021, up 14.2% from 2020 and 50.5% from 2019. E-commerce accounted for 13.2% of all retail sales in 2021 in the USA. Therefore, the exponential growth of the e-commerce industry is expected to propel the growth of the digital logistics market in the coming years.

Competitive Landscape -
Major companies operating in the digital logistics market report are Oracle Corporation, IBM Corporation, SAP SE, Advantech Co Ltd., AT&T Inc., Intel Corporation, Honeywell International Inc., HCLTech Ltd., Blue Yonder Inc., DigiLogistics, Hexaware Technologies Ltd., Tech Mahindra Pvt. Ltd., Samsung SDS, ORBCOMM Inc., Freightgate, Huawei Technologies Co. Ltd., WebXpress, Ramco Systems Ltd., Logisuite, ICAT Logistics, JDA Software Pvt. Ltd., Cloud Logistics, DigiLogistics Technology Ltd., Infosys Limited, Kuehne + Nagel International AG, UPS Supply Chain Solutions, Capgemini SE, Cognizant Technology Solutions Corporation, Deutsche Post DHL Group, FedEx Corporation, Kenco Logistics Services LLC, Schneider Electric SE, XPO Logistics Inc.

Technological Advancement Driving Innovation In Digital Logistics
Technological advancement is a key trend gaining popularity in the digital logistics market. Major companies operating in the digital logistics market are focused on research and development for designing technologically advanced digital logistics solutions enabling different use cases in connected logistics. Such as advanced solutions provide companies with a competitive edge in the market. For instance, in September 2022, XPO Logistics, a US-based transportation company, launched its integrated digital customer service management platform, called Assist, across the Iberian Peninsula. This innovative platform aims to simplify customer account service requests and processes, offering efficient communication tools and instant visibility into the status of customer inquiries. The integration of Assist has resulted in quicker responses to customer queries, thanks to the decreased time spent by customer service staff on administrative tasks.

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Key Segments -

The digital logistics market covered in this report is segmented -

1) By Component: Solution, Services
2) By System: Tracking And Monitoring Systems, Information Integrated Systems, Electronic Data Interchange Systems, Database Management Systems, Fleet Management Systems, Order Management Systems
3) By Deployment Mode: Cloud, On-Premises
4) By Application: Warehouse Management, Labor Management, Transportation Management
5) By End-User Industry: Government, Aerospace, Defence, Automotive, Oil And Gas, Retail, Manufacturing, Healthcare, Other End-User Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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