Smart Logistics Market Segmented By Software, Hardware and Services (Professional and Managed Services)
Industry: IT and Telecommunication
Published Date: November-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP24457
At present, revenue from smart logistics accounts for a market valuation of US$ 30.6 Bn and is projected to skyrocket to US$ 201 Bn by the end of 2032. This is because the global smart logistics market is anticipated to surge ahead at 20.7% CAGR over the next ten years.
The advent of smart technologies and rapid innovations have led to some major changes in all industries across the world and logistics is one of the prominent industries that is expected to change drastically in the future. Demand for smart logistics rose rapidly at 19.1% CAGR from 2017 to 2021 and ended up with a market valuation of US$ 25.5 Bn in 2021.
Digitization has played a pivotal role in paving the inroads for smart logistics in the conventional logistics and supply chain landscape. Growing digitization across the world, increasing adoption of smart technologies, the establishment of smart warehouses, flourishing e-commerce industry, rising number of global shipments, and implementation of smart transportation systems are other factors that are expected to boost smart logistics demand in the future.
Implementation of smart supply chain solutions, increasing demand for automation, and the emergence of logistics 4.0 are other factors that also could favor market development in the long run.
However, a lack of standardization in the logistics industry is anticipated to prove to be a major constraint to market growth throughout the forecast period. Moreover, the high costs associated with the deployment of smart logistics solutions are also expected to impede demand through 2032.
| Attribute | Details |
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Smart Logistics Market Size (2022) |
US$ 30.6 Bn |
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Projected Market Value (2032) |
US$ 201.2 Bn |
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Global Market Growth Rate (2022-2032) |
20.7% CAGR |
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Manufacturing and Resources Segment Share (2021) |
28.3% |
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China Market Growth Rate (2022-2032) |
21.3% CAGR |
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Europe Market Share (2021) |
20.7% |
“Digitization & Automation Anticipated to Bolster Demand for Logistics 4.0”
Supply chains have been operating conventionally for ages now and the system is long due for an upgrade, which is what Logistics 4.0 brings to the shipping and freighting industry. High penetration of internet infrastructure, rising demand for automation, increasing integration of smart technologies, and growing adoption of new logistics solutions across the world to improve efficiency are some of the prime factors that will enable the adoption of Logistics 4.0 trends and therefore the evolution of shipping and supply chain activities around the world.
The new road towards Logistics 4.0 is being paved by the advent and onset of the Industry 4.0 trend that has enabled automation and smart industries across the world. Moreover, the integration of smart transportation, smart warehousing, and smart freight management technologies are also expected to create an opportune setting for smart logistics companies over the coming years.
“Development & Deployment of Innovative Logistics Solutions the Prime Focus of Start-ups”
Upcoming smart logistics providers are focusing on leveraging technologies such as IoT (Internet of Things), data analytics, smart transportation, etc., to create highly efficient and innovative smart logistics solutions that help them bolster their market presence across the world.
New companies in the smart logistics market are also focusing on securing new capital to expand their business scope and scale their business models to compete with major market players in the global landscape.
“United States Accounts for Highest Share in North American Region”
Demand for smart logistics in the United States is anticipated to have a bright outlook in the future and this can be ascribed to the rapid adoption of smart technologies, the growing use of automation, the presence of key logistics solution providers, and the growing demand for more efficient supply chain solutions.
Flourishing e-commerce industry and rising online sales in the country are also expected to boost demand for smart warehousing and deployment of smart supply chain solutions. Demand for smart logistics in the U.S. accounted for 23.4% market share in 2021 and is projected to rise at a phenomenal CAGR of 18.2% over the next ten years.
“Robust Manufacturing Activity Offers Lucrative Business Scope”
Japan is home to one of the most prominent manufacturing industries in the East Asian region and this is a prime factor that is expected to lead the demand for smart logistics in the country throughout the forecast period. Japan is known for manufacturing consumer electronics, semiconductors, automobiles, etc., and these are the prime industries that propel market potential in the country.
Smart logistics demand in Japan is forecasted to increase at a prolific CAGR of 20.5% from 2022 to 2032. Meanwhile, the S. Korea smart logistics market is also expected to expand at a similar pace over the coming years.
“Germany to Account for Significant Market Share in Europe”
The market in Europe accounted for the second-highest share of 20.7% in the global landscape in 2021 and is estimated to maintain a similar stance throughout the forecast period. Germany is predicted to be a key market in this region owing to high investments by the government and private sector in the transportation sector. Moreover, the presence of robust industrial activity and automotive production in the country is also expected to provide future growth scope for smart logistics providers in the European region.
In 2021, demand for smart logistics in Germany accounted for 12.5% market share in the global landscape and is slated to exhibit expansion at a notable CAGR of 16.1% through 2032.
Which Industry Leads Global Smart Logistics Demand?
“Manufacturing and Resources Industry Accounts for Highest Market Share”
In 2021, the manufacturing and resources industry held a dominant share of 28.3% in the global industry landscape and is projected to witness an increase in the demand for smart logistics at a robust 18.4% CAGR across the forecast period.
The need for improved tracking of pallets and goods during shipping in the manufacturing industry is expected to be a prime factor that influences growth in this industry over the coming years. Growing manufacturing activity and increasing investments to bolster the manufacturing sector in developing countries are other factors that will bolster the growth of this segment.
Demand for smart logistics in the services industry is expected to soar high at a prolific CAGR of 22.4% from 2022 to 2032.
Prime smart logistics providers are focusing on expanding their business scope through collaborations, partnerships, and mergers.
Leading smart logistics companies are also focusing on launching new innovative services and platforms that simplify the implementation and deployment of a smart supply chain solution platform.
Recent developments related to key providers of smart logistics have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
| Attribute | Details |
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Forecast Period |
2022-2032 |
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Historical Data Available for |
2017-2021 |
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Market Analysis |
US$ Bn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
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Worldwide revenue from smart logistics accounts for US$ 30.6 Bn value in 2022.
Smart logistics demand is predicted to surge at an impressive 20.7% CAGR over the next ten years.
By 2032, the market for smart logistics solutions is slated to reach US$ 201.2 Bn.
In 2021, North America accounted for the highest share of 32.9% in the global marketplace.
The market for smart logistics in China is projected to exhibit expansion at a stellar CAGR of 21.3% through 2032.
