Strong R&D investments & technological innovations and increasing use of AI and IoT are the contributing factors for the growth of the digital transformation spending in logistics market.
According to the current analysis of Introspective Market Research, the global Digital Transformation Spending in Logistics market was valued at USD 46.97 Billion in 2019 and is expected to reach USD 80.04 Billion by the year 2026, at a CAGR of 7.99%.
The increase in the number of internet users and the rise in the usage of social media platforms has created quite a surge in the demand for the market. Creative digital solutions and platforms are being collaborated and installed within the organization’s infrastructure. An India-based company, Vinculum Solutions focuses on delivering solutions and products specific to the retail industry. The solution supports easy order delivery, last mile delivery, and integration of manufacturers, logistics companies and web stores among each other.
According to the analyst, various strategies have been in motion to increase the efficiency of logistics over the years. Incorporation and collaborating are considered to be one of the most pivotal factors in these strategies. The startups as well as leading players are prepared to merge with each other and Share these platforms, allowing the key players to retain their dominance. The deal becomes a win-win for both the companies as the new player gets easy access to the market and the market leaders increase their efficiency and develop new business models.
The Global Digital Transformation Spending in Logistics market is segmented by Solutions (Hardware, Software and Services), by Hardware Solutions (Systems, Devices, and IT Equipment), by Systems (Conveyors, Automated Storage and Retrieval Systems (ASRS), Automatic Sorters, Automated guided vehicle (AGV), Robotic Picking System, Automatic Palletizer, Peripheral & Supporting Components BFSI), by Devices (RFID Readers, Real-time Location System, Barcode Scanners, Barcode Printers, Barcode Stickers, RFID Tags, GPS), by IT Equipment (Enterprise Servers, and Client Machines), by Deployment (Cloud Based and On-Premise), by End-User (3PL and Warehouse). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest:
- Growth in e-commerce and with quick delivery of goods to gain competitive advantage has increased demand for transport management systems and warehouse management systems.
- Large and heavy investments in the digital transformation spending in logistics from the multinational corporates to improve the efficiency and growth of the business are improving the market size.
- North-America holds the largest market share owing to the high presence of IT companies in the United States and Canada.
- Growing GDP, changing lifestyles of the consumers and increasing use of the data science and technological models in the business in developing and developed countries are enhancing the growth for the Digital Transformation Spending in Logistics market.
Key Participants include JDA Software WMS, Logitech, Unisys Corporation, Sanco Software, Advantech, Partner Tech, Oracle, Hexaware Technologies, S2K warehouse management, Samsung, Mindtree, 3GTMS, XPO Logistics, IBM, APL Logistics Ltd., Digital Logistics Group, Syntel, 4Flow AG, SAP and Tech Mahindra.
For this report, Introspective Market Research have segmented the Global Digital Transformation Spending in Logistics markets market on the basis of Region:
Regional Outlook (Revenue in USD Billion; Volume in Units, 2019-2025)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM