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.
Author Credits: Abhishek Verma
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