LONDON, March 02, 2022 (GLOBE NEWSWIRE) -- Digital logistics, with its transparent, real-time visibility of order fulfillment, inventory status, and shipment updates, is the quickest way for your logistic companies. Machine learning is incorporated into digital logistics platforms to assist in making critical, data-informed decisions and continuously driving improvement to supply chain processes so that companies can concentrate on strategic improvements that will have a direct impact on customer satisfaction. Digital logistics is not a replacement for human interaction; instead, it is a feature that allows supply chain providers to focus on providing a better customer experience.
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Global Digital Logistics Market Dynamics
The increasing demand for real-time tracking and monitoring systems in logistics, as well as data management systems, are some of the factors driving the growth of the global digital logistics market. Furthermore, the rise of the e-commerce industry and its logistics market for consumers is expected to drive growth in the digital logistics market. The need for high capital for start-ups, a lack of technological infrastructure, and data security concerns are expected to slow down the market growth. Furthermore, the use of blockchain and IoT technology in logistics operations, as well as increased investment in logistics startups, creates opportunities for the digital logistics market.
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Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global digital logistics market. Due to the increasing interest in digital services and products, as well as the emergence of digitalization in the logistics and supply chain industry, North America will have the largest market share in 2020. Furthermore, customers, both senders and receivers, are increasingly demanding instantaneous information on their shipments, faster sending and delivery, and lower shipping costs, which are driving the industry's transformation toward a globally automated system of digitalized logistics networks. The Asia Pacific region is expected to grow significantly in the coming years. The Asia Pacific digital logistics market is expanding due to rising demand for e-commerce services, increased Smartphone and internet awareness, and services such as real-time tracking and monitoring, as well as data management.
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Market Segmentation
The solution segment is categorized into warehouse management, labor management, and transport management. The warehouse and transport management segment will have a sizable market share in 2020. A warehouse management system (WMS) is a software solution designed to simplify warehouse management. It is used to perform demand analyses, forecast sales, and create efficient daily operating plans, as well as provide real-time visibility into inventory location and quantity. A transportation management system (TMS) is a technology-based logistics platform that helps organizations in planning, executing, and optimizing the physical movement of goods, both inbound and outward, while also assuring compliance and adequate paperwork. This type of system is frequently embedded in a larger supply chain management (SCM) system.
The system segment is further segmented by tracking and monitoring system, information integrated system; electronic data interchange system, database management system, fleet management, and order management system. The database management system segment has significant market shares in 2020. A data management system is the foundational system for collecting and analyzing large amounts of data in an organization. Commercial data platforms typically include management software developed by the database vendor or third-party vendors. It is used to identify, alert, diagnose, and resolve database system or underlying infrastructure faults, as well as to allocate database memory and storage resources.
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The end-user industry segment is divided by Government, Aerospace, Defense, Automotive, Oil & Gas, Retail, Manufacturing, Healthcare, and Others. The manufacturing segment has considerable market shares in 2020. Manufacturing logistics includes the management and optimization of storage processes as well as the movement of materials in installations linked to a manufacturing center. Using a digital logistics solution and system increases productivity, saves time and increases efficiency by allowing information to be captured into the systems. Furthermore, it reduces infrastructure costs, improves customer satisfaction, and gives manufacturers access to a larger volume of data.
Major Players
Some major players covered in the digital logistics market are Advantech Co., Ltd, IBM Corporation, SAP SE, Oracle Corporation, HCL Technologies Limited, Tech Mahindra, Huawei Technologies Co., Ltd, Samsung Electronics Logitech Co., Ltd., Hexaware Technologies, JDA Software Group, Inc., and others.
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