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$2.5 Billion by the year 2026.
Select Competitors (Total 104 Featured):
- 3GTMS, Inc.
- 4flow AG
- Advantech Co., Ltd.
- APL Logistics Ltd.
- Atos Syntel Inc.
- Blue Yonder Group, Inc.
- Hexaware Technologies Limited
- IBM Corporation
- Mindtree Ltd.
- Oracle Corporation
- SAP SE
- Tech Mahindra Limited
- Unisys Corporation
- Vormittag Associates, Inc.
- XPO Logistics
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Digital Transformation Spending in Logistics - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Global Trade & Retail: The Foundation for Growth in the Logistics Industry
- Trade & Transport Logistics Are Mutually Reinforcing: Global Value of Export Trade (In US$ 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
IV. COMPETITION
- Total Companies Profiled: 104
For more information about this report visit https://www.researchandmarkets.com/r/teu6wl
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