Global Market for Digital Transformation Spending in Logistics
Dublin, Aug. 29, 2022 (GLOBE NEWSWIRE) -- The "Digital Transformation Spending in Logistics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Digital Transformation Spending in Logistics estimated at US$52.2 Billion in the year 2022, is projected to reach a revised size of US$75.5 Billion by 2026, growing at a CAGR of 8.8% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to grow at a 8.2% CAGR to reach US$38.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 8.9% CAGR for the next 7-year period.
The U.S. is Estimated at $15.1 Billion in 2022, While China is Forecast to Reach $13.7 Billion by 2026
Digital Transformation Spending in Logistics in the U.S. is estimated at US$15.1 Billion in the year 2022. The country currently accounts for a 28.98% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$13.7 Billion in the year 2026 trailing a CAGR of 10% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.7% and 8.5% respectively over the analysis period.
Within Europe, Germany is forecast to grow at approximately 7.8% CAGR while Rest of European market (as defined in the study) will reach US$15.1 Billion by the end of the analysis period. The push towards digital transformation in these markets in pushing up investments in connected devices, radio frequency identification (RFID) and Internet of Things (IoT) for enhanced real-time visibility into the supply chain.
Foray of third-party logistics providers (3PLs) in the logistics and freight management industry is changing market dynamics, providing shippers with the opportunity to find the most suitable partner for their business. The future holds even more opportunities for transportation & logistics companies to improve their efficiency and profits. IoT and vehicle-to-vehicle communication holds promise for enabling vehicle trains or vehicle platoons.
Services Segment to Reach $22.1 Billion by 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 9.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8.1 Billion will reach a projected size of US$15.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.5 Billion by the year 2026.
Select Competitors (Total 104 Featured):
Advantech Co., Ltd.
APL Logistics Ltd.
Atos Syntel Inc.
Blue Yonder Group, Inc.
Hexaware Technologies Limited
Tech Mahindra Limited
Vormittag Associates, Inc.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Digital Transformation Spending in Logistics - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Global Trade & Retail: The Foundation for Growth in the Logistics Industry
Trade & Transport Logistics Are Mutually Reinforcing: Global Value of Export Trade (In US$ Billion) for the Years 1950, 1970, 1990, 2000, 2010 and 2019
Year 2020 Has Been a Year of Astounding Disruption & Unbelievable Transformation
COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019 to 2022
Continued High Unemployment Levels Challenges Growth in Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2017, 2019, 2020, and 2022
As Mass Vaccination Drives Get Underway Worldwide, Will It Change the Existing Economic Realities? & Is it Really the Silver Bullet We Were Waiting For?
How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End: Global Number of COVID-19 Vaccinations (Per 100 People) As of February 2021 by country
Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
How Trade, Transport & Retail Industries Are Impacted by the Pandemic & What's the New Normal?
Transportation Industry Bites the Dust
Global Trade Plummets Impacting Freight & Logistics: Global Trade Exports & Imports Volume Growth (in %) by Region for 2018-2020
Retailing & Merchandizing, the Key Drivers of Urban Logistics, Slumps
Special Focus on Departmental Stores
Global Department Stores Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
An Uncertain Recovery in Global Trade Means the Pain of the Pandemic Will Continue to Linger On for the Logistics Industry
Global Merchandize Trade (In US$ Trillion) for Years 2019 to 2022
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Moving Beyond COVID-19, How Will Global Supply Chains Looks Like? The Answers Every Stakeholder in Supply Chain Logistics Should Know
As Companies Come to Terms With the Depth of their Dependencies, Globalization Will Reduce to Regionalization
Supply Chain 24/7 Visibility, the New Normal
Why the Need to Modify The Pharmaceutical Supply Chain Is So Great?
Rethinking Scale & Mix Will See the Rise of Parallel Supply Chains
Making Data Talk: Digitization Will be the Key to Building Stronger, Smarter Supply Chains
Digitalization of Logistics Gains Fervor Amid the Pandemic
COVID-19 Has Created an Environment Where Digital Transformation Equals Survival
Growing Number of Logistics Service Providers Leverage Data & Analytics for Smart Transportation
3PLs Step Up Investments in Freight Management Systems. Here's Why
Big Data Analytics Gains in Importance in Freight Management Systems
COVID-19 Triggers Unprecedented Disruptions in the Supply Chain & Accelerates the Urgency to Rethink Supply Chain Management
Unprecedented Losses Sustained in the Supply Chain Bodes Well for Integration of Emerging Technologies like Blockchain to Enhance Resilience & Reliability: Global Losses in Supply Chain as a % of Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) in the Year 2020
Here's How The Role of Blockchain Becomes Bigger in Post COVID-19 Management of Supply Chains
Challenges for Adoption of Blockchain in Supply Chains
Blockchain Powered Solutions to Streamline Processes in Logistics
A Special Focus on Blockchain Use in the Trucking Industry
Why Trucking Needs Blockchain?
Key Advantages of Blockchain for Trucking Industry
Special Focus on How Big Data is Being Used to Build Supply Chain Resilience
Predictive Analytics Storms Into the Spotlight to Simplify Decision Making
Globalization of Businesses Drives the Need for Efficient Supply Chain Designs
Effective Tracking of Ocean Freight with New Visibility Technologies
Consumer Demand for Fast, Free Shipping Spurs Adoption of New Technologies
With an Eye on Performance Improvements, Logistics Companies Step Up Investments in Fleet Telematics
Cost Pressures in the Logistics Industry Spurs Market Opportunities for CV Telematics in Fleet Management
Logistics Companies Step Up Spending on Telematics: Global Spending on Commercial Vehicle Telematics (In US$ Million)
Special Focus on the Growing Role of GPS in Logistics Automation & Supply Chain Management
GPS Makes Supply Chains & Logistics Resilient & Responsive
Spectacular Merits of GPS for Logistics and Supply Chains
Autonomous Trucking: A Revolution in Making in the Logistics Industry
Barcode, Laser Scanners & RFID Readers, the Starting Point for Automating Logistics Processes
Barcode Scanning and Machine Vision: The Pathway to Automation
RFID Technology to Improve Logistics
Growing Role of Cloud Computing in Logistics 4.0
Here's How COVID-19 Has brought Cloud Technologies Into the Spotlight
Global Cloud Technologies Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
The Race to Adopt Cloud Computing in Logistics Gets Underway
Rising Significance of IoT in Logistics and Supply Chain Management
Here's How Trucking Companies Are Using IoT
Primary Benefits of IoT for Truck Operators
COVID-19 Fast-Tracks Migration Towards Warehouse Automation
Here's How Artificial Intelligence Will Revolutionize the Logistics Industry
Special Focus on Artificial Intelligence (AI) in the Trucking Industry
Automation is a Necessary Step Towards Digital Transformation
Trend Towards Industry 4.0 Redefines Opportunities in the Material Handling Equipment Market
Focus on Automation & Production Efficiency, the Foundation for Growing Investments in AGVs
Integration of MHE with Warehouse Management Systems: A Key Trend
Mobility Devices Take Center Stage Amid Automation & Digitalization
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 104
For more information about this report visit https://www.researchandmarkets.com/r/teu6wl
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