Digital Logistics Market size was over USD 27.92 billion in 2023 and is anticipated to reach USD 250.89 billion by 2036, witnessing around 18.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of digital logistics is estimated at USD 32.03 billion. The growth of the market can be attributed to the growing requirement for cost-effective logistics, rising adoption of cloud-based services by small and medium sized enterprises, and increasing data volume in the logistics industry. More than 75% of small businesses are evaluated to adopt cloud computing by the end of 2021. In 2020, 82% of SMEs reported to have witnessed reduced costs as a result of adoption of this technology. Along with these, rapid technological advancements in digital marketing, and rise in investments by governmental and non-governmental organizations on technologies such as AI, big data and IoT are also expected to drive market growth in the forthcoming years. Furthermore, robust growth in the e-commerce industry in the last decade is projected to offer ample opportunities for the expansion of market in the near future.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
18.4% |
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Base Year Market Size (2023) |
USD 27.92 billion |
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Forecast Year Market Size (2036) |
USD 250.89 billion |
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Regional Scope |
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The market is segmented by type into inventory management, warehouse management system (WMS), data management & analytics, and fleet management, out of which, the data management & analytics segment is anticipated to hold the largest share in the global digital logistics market. This can be accounted the fact that data management solutions play a crucial role in IoT devices for the collection of huge amounts of data and drawing informative insights from the same. In addition, real-time analytics help in yielding greater productivity, profitability and efficiency to logistics processes, which is another factor assessed to boost the growth of the market segment. Moreover, on the basis of deployment, the cloud segment is predicted to observe the highest growth over the forecast period in view of the benefits offered to organizations related to the adoption of cloud solutions such as ease of management, flexibility and scalability.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Deployment |
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Vertical |
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On the basis of geographical analysis, the global digital logistics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the Latin America is anticipated to dominate majority revenue share by 2036, on the back of growing technological advancements in cloud, AI and IoT, increasing penetration of mobile devices, and growing establishment of SMEs in the region. For instance, in 2018, 75% business buyers in Brazil believed that AI can represent good opportunities to businesses. Furthermore, more than 65% were already using AI and were satisfied with the organizational transformation in the country. Additionally, the market in North America is evaluated to occupy the largest share over the forecast period owing to the strong presence of prominent IT companies and intensifying technological advancements in digital logistics. Apart from these, rising developments in commercial transport in the region is also expected to drive market growth in the future.
January 27, 2021: Oracle Corporation launched new logistics capabilities within its product Oracle Fusion Supply Chain & Manufacturing (SCM). The updates are aimed at helping customers make better planning decisions, reduce costs and improve their overall experience.
Author Credits: Abhishek Verma
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