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The global digital logistics market size is expected to reach USD 116,404.1 million by 2030, expanding at a compound annual growth rate (CAGR) of 23.1%. The market is reported to be USD 22,075.2 million in 2021. The key factors fueling the growth of digital logistics industry include significant growth in the ecommerce industry, rising volume and velocity of data in the logistics industry, and digital transformation in the logistics industry. Growing the adoption of cloud-based technology is expected to provide lucrative opportunities for the global market throughout the forecast period.
Geographically, the report covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America digital logistics market captured first position in the overall market share of 2021, driven by presence of large it companies, and significant invest in leading digital logistics solutions and services. In terms of revenue, Europe captured the second position in the digital logistics market. The digital logistics market in Asia Pacific region is projected to grow at lucrative growth rate over the forecast period.
Based on components, the digital logistics market has been classified into solution, and services. The solution segment is projected to be the largest segment during the forecast period. The solution segment is further classified into asset management, warehouse management, data management and analytics, security, and network management.
By function, the global digital logistics market has been divided into warehouse management, transportation management, and workforce management. The transportation management segment is projected to be the largest segment during the forecast period.
Based on organization size, the digital logistics market is segmented into large enterprises, and SMEs. By deployment mode, the global digital logistics market has been divided into cloud, and on-premises. The cloud segment is expected to register the highest CAGR during the forecast period.
By vertical, the global digital logistics market has been divided into retail and ecommerce, manufacturing, pharmaceuticals and healthcare, aerospace and defense, automotive, energy and utilities, and others (includes IT, telecom and chemicals).
The companies operating in the global digital logistics market have implemented various business strategies to increase their market share, and capitalize existing opportunities in the market.
Major companies in digital logistics market includes IBM, Advantech, AT&T, Blue Yonder, Cloud Logistics, Digilogistics, Eurotech S.P.A, Freightgate, HCL Technologies, Hexaware, Honeywell, ICAT Logistics, Impinj, Infosys, Intel, Intersec, Logisuite, Oracle, ORBCOMM, Ramco Systems, Samsung SDS, SAP, Softlink, Tech Mahindra, and WebXpress.
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