New York, United States, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The Global Cloud Logistics Market Size is to Grow from USD 16.43 Billion in 2022 to USD 51.95 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 12.2% during the forecast period.
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Cloud logistics refers to the use of cloud computing technology to optimize and streamline various aspects of supply chain management and logistics operations. It leverages cloud-based platforms and services to enhance the efficiency, visibility, and scalability of logistical processes. This innovative approach allows organizations to seamlessly manage tasks such as inventory management, order processing, transportation planning, and real-time tracking through web-based applications and data analytics. Cloud logistics provides businesses with the flexibility to adapt to changing market conditions, reduce operational costs, and improve customer satisfaction by ensuring the timely delivery of goods.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on The "Global Cloud Logistics Market Size, Share, and COVID-19 Impact Analysis, By Type (Public, Private, Hybrid, and Multi), By OS Type (Native and Web-based), By Enterprise Size (Large Enterprise and Small and Medium Enterprises), By Industry Vertical (Retail, Consumer Electronics, Healthcare, Automotive, Food & Beverage, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032."
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In 2022, the public segment accounted for around 24.6% market share
On the basis of the type, the global cloud logistics market is segmented into public, private, hybrid, and multi. The dominance of the public sector in the market can be attributed to its significant investments in cloud logistics solutions to enhance the efficiency and transparency of government supply chains. Public organizations, including government agencies and defense sectors, increasingly rely on cloud-based logistics to optimize resource allocation, reduce costs, and improve service delivery.
The web-based segment held the largest market with more than 47.5% revenue share in 2022
Based on the OS type, the global cloud logistics market is segmented into native and web-based. The dominance of the web-based operating system (OS) segment in the market can be attributed to its widespread adoption in various industries. Web-based OS offers accessibility, flexibility, and cost-effectiveness, making it a preferred choice for businesses. It allows users to access logistics applications and data from anywhere with internet connectivity.
The small & medium enterprises segment is expected to grow at a CAGR of around 12.7% during the forecast period
Based on the enterprise size, the global cloud logistics market is segmented into large enterprise and small and medium enterprises. The small and medium enterprises (SMEs) segment is poised for growth over the projected period due to several factors. SMEs are increasingly recognizing the benefits of cloud logistics, such as cost-efficiency, scalability, and streamlined operations. With the evolving technology landscape and more affordable cloud solutions, SMEs are now better positioned to adopt these systems.
The retail segment held the largest market with more than 23.4% revenue share in 2022
Based on the industry vertical, the global cloud logistics market is segmented into retail, consumer electronics, healthcare, automotive, food & beverage, and others. The retail sector's dominance in the market can be attributed to its substantial reliance on cloud logistics solutions. The retail industry has witnessed a significant shift toward e-commerce and omnichannel retailing, necessitating efficient supply chain management. Cloud logistics offers real-time visibility, inventory optimization, and order processing capabilities, all of which are essential for meeting customer demands and maintaining competitiveness.
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Asia-Pacific is anticipated to grow at a fastest CAGR of around 12.5% over the projected period
Based on region, the Asia Pacific region is projected for the fastest growth in the cloud logistics market due to the region's booming e-commerce sector and the rise of digitally-savvy consumers are driving increased demand for efficient logistics solutions. The expanding manufacturing and trade activities in countries like China, India, and Southeast Asian nations necessitate advanced logistics management, which cloud technology can provide. Additionally, the region's growing investment in infrastructure and connectivity improvements is fostering an environment conducive to the adoption of cloud-based logistics solutions, making it a prime growth market in the forecast period.
North America's dominance in the cloud logistics market can be attributed to a mature and technologically advanced logistics industry, making it more receptive to adopting cloud-based solutions. The presence of numerous large enterprises and e-commerce giants that rely heavily on efficient supply chain operations has driven significant demand.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the global cloud logistics market include Bwise, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, Thomson Reuters Corporation, Trimble Transportation, Descartes Systems Group, C. H. Robinson, MetricStream, Inc., 3GTMS, CargoSmart Limited, BluJay Solutions, and ShipBob, Inc. And Other Key Vendors
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Recent Developments
- In February 2022, Oracle Corporation announced new logistics capabilities to help its clients improve supply chain efficiency and total value. These new capabilities are intended to optimise supply chain operations, resulting in increased supply chain performance and cost-effectiveness. Oracle's clients may achieve better levels of operational efficiency, cost savings, and improved value in managing their logistics and supply chain activities by using these advances.
- In November 2022, Microsoft introduced the Microsoft Supply Chain Platform, a novel design approach aimed at improving supply chain agility, automation, and sustainability. This innovative platform promises to transform supply chain operations by empowering organisations to become more flexible, efficient, and ecologically friendly in their logistics and supply chain practises.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global cloud logistics market based on the below-mentioned segments:
Cloud Logistics Market, By Type
- Public
- Private
- Hybrid
- Multi
Cloud Logistics Market, By OS Type
- Native
- Web-based
Cloud Logistics Market, By Enterprise Size
- Large Enterprise
- Small and Medium Enterprises
Cloud Logistics Market, By Industry Vertical
- Retail
- Consumer Electronics
- Healthcare
- Automotive
- Food & Beverage
- Others
Cloud Logistics Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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