Digital Transformation Spending in Logistics Market 2020 By Solutions, Hardware Solutions, Systems, Devices, IT Equipment, Software Solutions, Enterprises Solutions, Services, Deployment, Industry - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : Packaging | Pages : 182 Pages | Published On : Jul 2023
The global Digital Transformation Spending in Logistics market was valued at USD 51.9 Billion in 2022 and is expected to reach around XX by 2030, at a CAGR of about 9.1% between 2023 and 2030.
Major Players In Digital Transformation Spending in Logistics Market Include: IBM Corporation, SAP SE, Oracle Corporation, Cognizant Technology Solutions Corporation, Amazon Web Services Inc., Accenture PLC, Huawei Technologies Co. Ltd., Microsoft Corporation, Cisco Systems Inc., HCL Technologies Limited, Infosys Limited, DHL International GmbH, FedEx Corporation, United Parcel Service Inc., Deutsche Post AG, Kuehne + Nagel International AG, XPO Logistics Inc., Sinotrans Limited, SF Express Co. Ltd., CEVA Logistics & Others
The Global Digital Transformation Spending in Logistics Market is undergoing a profound evolution, redefining the logistics landscape through technology-driven innovations. This executive summary offers a comprehensive overview of the market, encompassing key insights into its current state and future potential, including market drivers, challenges, opportunities, dominating segments, regions, countries, and key players. In an era of rapid digitization and heightened customer expectations, digital transformation in logistics stands as a pivotal force revolutionizing supply chain operations, enhancing efficiency, and facilitating a more agile and responsive logistics ecosystem.
The Global Digital Transformation Spending in Logistics Market is characterized by the adoption of cutting-edge technologies to streamline and optimize logistics operations. This encompasses a wide array of digital solutions, including Internet of Things (IoT) devices, cloud computing, artificial intelligence (AI), blockchain, and advanced analytics. The market's value reflects its essential role in addressing the complexities of modern supply chains, estimated to save logistics costs by up to 30% and drive substantial improvements in delivery times, inventory management, and real-time visibility.
Two compelling drivers propelling the Global Digital Transformation Spending in Logistics Market are the pursuit of operational excellence and the rise of e-commerce. Companies across industries are investing in digital technologies to enhance supply chain visibility, automate processes, and reduce manual interventions, leading to more efficient and cost-effective logistics operations. Simultaneously, the booming e-commerce sector, accelerated by the global pandemic, is driving the need for highly responsive and agile logistics networks capable of meeting evolving consumer demands, including same-day and last-mile delivery services.
Despite its transformative potential, the market faces challenges, including cybersecurity concerns, integration complexities, and the shortage of digital skills. The increasing reliance on digital technologies exposes logistics companies to cybersecurity threats and data breaches, necessitating robust security measures. Integrating diverse digital solutions into existing logistics systems can be intricate and resource-intensive, leading to challenges in achieving seamless interoperability. Additionally, the shortage of skilled professionals proficient in emerging digital technologies hampers the full realization of digital transformation benefits.
Digital transformation in logistics presents a myriad of opportunities, notably in predictive analytics, autonomous vehicles, and sustainability initiatives. Predictive analytics offer the capability to forecast demand, optimize routes, and reduce costly stockouts or overstock situations. Autonomous vehicles, including drones and autonomous trucks, promise to revolutionize last-mile delivery and enhance logistics efficiency. Moreover, the growing emphasis on sustainability and eco-friendly practices offers opportunities for digital transformation in tracking carbon footprints, reducing waste, and enhancing supply chain sustainability.
The dominating segment in the Global Digital Transformation Spending in Logistics Market is supply chain visibility solutions. These solutions enable real-time tracking of goods and assets, thereby enhancing transparency and reducing the risk of disruptions. Geographically, North America and Europe are at the forefront of digital transformation spending, driven by advanced logistics infrastructures and a strong focus on innovation.
Major Classifications are as follows:
By Hardware Solutions
- IT Equipment
- Automated Storage & Retrieval System (ASRS)
- Automatic Sorters
- Automated Guided Vehicle (AGV)
- Robotic Picking System
- Automatic Palletizer
- Peripheral & Supporting
- RFID Readers
- Real-Time Location System (RTLS)
- Barcode Scanners
- Barcode Printers
- Barcode Stickers
- RFID Tags
- Global positioning system (GPS)
By IT Equipment
- Enterprise Servers
- Client Machines
By Software Solutions
- IoT Platform
- Warehouse Management & Control System
- Transport Management System
- Enterprise Solutions
By Enterprises Solutions
- Supply Chain Management
- Project Management System
- Customer Relationship Management
- Information Management System
- Human Capital Management
- Order Management System
- Big Data & Analytics
- Consulting & Training
- Implementation & Integration
- Operation & Maintenance
- Managed Services
- Cloud Based
- On Premise
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
- Middle East
- Saudi Arabia
- Rest of the Middle East
- South Africa
- Rest of the Middle East & Africa
- Middle East
Reason to purchase this Digital Transformation Spending in Logistics Market Report:
- Determine prospective investment areas based on a detailed trend analysis of the global Digital Transformation Spending in Logistics Market over the next years.
- Gain an in-depth understanding of the underlying factors driving demand for different Digital Transformation Spending in Logistics Market segments in the top spending countries across the world and identify the opportunities each offers.
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
- Identify the major channels that are driving the global Digital Transformation Spending in Logistics Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
- Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Digital Transformation Spending in Logistics Market.
- Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Digital Transformation Spending in Logistics Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.
Table and Figures
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Covered Key Topics
Market Growth Drivers
Leading Market Players
Company Market Share
Market Size and Growth Rate
Market Trend and Technological