The global Digital Logistics Market size is projected to reach USD 22170 million by 2026, from USD 10230 million in 2019, at a CAGR of 11.5% during 2021-2026.
Major factors driving the growth of the digital logistics market are:
- Digital logistics increase the transaction speed, flexibility of operations, scalability of resources, business transparency, cost-effective logistics and supply chain solutions across various industry verticals.
- Exponential growth in the e-commerce industry along with rising customer expectations.
TRENDS INFLUENCING THE GROWTH OF DIGITAL LOGISTICS MARKET
Exponential growth in the e-commerce industry is expected to drive the growth of digital logistics market size. Because of the increase in e-commerce activity, logistics companies must work quickly and more effectively to process small individual orders. Customers expect accurate orders, same-day or same-hour delivery, and free returns when ordering online. Digital logistics systems allow users to track the location, availability, and movement of assets over time (materials, equipment, labor, etc.). They also allow users to track the location, availability, and movement of assets in real-time.
The increasing globalization of supply chains and freight logistics has brought about more opportunities and more costs. The increasing need to manage logistics and supply costs effectively is driving the growth of digital logistics market size. Using robust Digital logistics solutions gives competitive freight companies the means to control a broad range of costs, including, Warehouse Management, Labor Management, and Transportation management.
Collaboration between various internal and external structures and people is made possible by digital logistics. Collaboration allows for the reduction or elimination of the “data silo effect,” in which data is stored in separate, siloed information systems—or, worse, individual spreadsheets. A single interface that provides a cohesive, shared view of the supply chain—rather than a network of forty-plus integration points—improves cross-departmental and cross-trading partner visibility and coordination, making agility and responsiveness an essential part of the digital supply chain.
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