The global digital logistics market, most recently valued at US$10.26 billion ($13.4 billion) in 2016, is expected to reach a value of US$16.36 billion ($21.4 billion) by the end of 2022, growing at a projected CAGR of 8.1 per cent between 2017 and 2022 according to a new report from Orbis Research.
Orbis defines digital logistics as the use of advanced technologies and communication in logistics to reduce operating costs and improve supply chain integration, increasing overall efficiency, performance and quality. “Smart logistics gives companies a superior performance by optimising the costs, reducing inventories and providing flexible operations,” the company said. “This market is expected to see massive demand in coming years.
“Increase of e-commerce sales around the globe is driving the digital logistics markets. The need to provide optimised and fast operations is creating large demand for digital logistics solutions. However slow adoption in some countries is hindering the growth of this market in some regions.”
The report, ‘Global Digital Logistics Market By Type of System, Services, Industry, Geography, Trends and Forecast 2017-2022’, considers key trends that impact the industry and profiles of companies such as IBM Corporation, Advantech Corporation, Oracle, Digilogistics, Hexaware Technologies, Samsung Electronics Co, Tech Mahindra, JDA Software, UTI Worldwide Inc. and SAP AG.