Digital Logistics Market Growth, Size, Share, Trends, and Forecast 2030

By 2030, the global digital logistics market is expected to have grown from its estimated value of USD 1974.68 million in 2022 to USD 6647.82 million, with a compound annual growth rate (CAGR) of around 16.53% between 2023 and 2030.The drivers, obstacles, and challenges of the worldwide digital logistics market are examined in this study along with their impact on demand throughout the forecast period. The paper also looks at new prospects in the field of digital logistics.

Global Digital Logistics Market: Overview

The logistics industry’s digitalization has created new avenues for business growth. In actuality, digital logistics play a critical role in the supply chain, helping to streamline and accelerate logistical procedures as well as eliminate human error in manual data collecting throughout the process. In the logistics industry, digitalization has shown to reduce operating costs while simultaneously improving accuracy in order fulfillment, preventing lost productivity, and preserving data transparency for all partners and vendors.

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Global Digital Logistics Market: Growth Factors

A few of the factors driving the growth of the worldwide digital logistics market include the expanding consumer base, political and economic events, the rise of the Internet of Things, and an increase in the number of digital clients. The Internet of Things (IoT) is quickly consuming the supply chain business. IoT is predicted to have an effect on logistics and the supply chain in the next years. Retail, transportation, and industrial organizations can now track goods in real-time and ensure that they arrive in good shape and, most importantly, at the correct time and place thanks to the Internet of Things. There are numerous uses for IoT in logistics, including wearables and smart warehouses. Growth in the digital logistics industry is being driven by such a digital transformation in logistics.

The COVID-19 epidemic has had a negative impact on the world economy. It affects every industry, including IT, healthcare, transportation, and many more. Several nations implemented strict lockdowns in an attempt to stem the disease’s spread. However, this caused a disturbance in the supply chain, which ultimately led to the closure of business-to-business logistics marketplaces. Furthermore, Wuhan, the city that was severely damaged by COVID-19, is home to over 200 Global Fortune 500 companies, further solidifying China’s reputation as the factory of the world. As a result, businesses who depend on the Chinese supply chain for primary or secondary suppliers faced a significant loss.

Global Digital Logistics Market: Segmentation

The market for digital logistics is divided into segments based on functions, services, solutions, and geography. Data management and analytics are predicted to expand at the fastest pace among solutions throughout the projected year. With the aid of this solution, IoT devices can collect copious amounts of raw data and derive actionable insights that help businesses streamline their operations. However, over the course of the projected period, transportation management is probably going to hold the largest market share according to functionalities. The necessity to monitor transportation losses, timely delivery records, and other issues is what’s fueling this market’s expansion.

Global Digital Logistics Market: Competitive Players

JDA Software Pvt Ltd, IBM Corporation, Oracle Corporation, DigiLogistics Technology Ltd, Advantech Corporation, Tech Mahindra Limited, Hexaware Technologies Limited UTI Worldwide Inc., SAP SE, and Samsung Electronics Co. Ltd (Samsung SDS), are some of the major players operating in the global digital logistics market.

Global Digital Logistics Market: Regional Analysis

In terms of market share for digital logistics worldwide, North America led the way. The region’s market is expanding due to the existence of sizable IT companies, the high rate of advanced technology adoption in the US and Canada, and the accessibility of sizable digital service providers. The Asia Pacific market is anticipated to develop at the fastest rate during the forecast period, with Europe holding the second-largest share of the market.

The region’s market is expanding due to factors such as the developing transportation industry, businesses expanding into untapped markets, the growing regional e-commerce sector, and the adoption of newer technology. The market in Latin America is expanding quickly as well; the primary factor driving this growth in this region is the increasing use of digital services by the local logistics and transportation sectors.

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