Digitization in Logistics Supply Chain Market COVID-19 Impact with 8.5% of CAGR by 2027 - Capgemini SE, Hexaware Inc., IBM Corporation, Oracle Corporation

The e-commerce industry is continuously expanding due to the regular increase in the number of companies. The e-commerce giants are continuously increasing their investments toward new warehouses and distribution centers. This is propelling the demand for higher volumes of transportation infrastructure.Thus, e-commerce is a key enabler of the global logistics sector growth and is anticipated to influence digitization in logistics supply chain market significantly.

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COVID-19 Impact on Digitization in Logistics Supply Chain Market

The COVID-19 outbreak has been affecting every business globally since December 2019. The continuous growth in the number of virus-infected patients has led governments to put a bar on transportation of humans and goods. The manufacturing sector has witnessed severe losses due to the temporary shutdown of factories and low production volumes, which has had a negative impact on the logistics sector. Additionally, the social or physical distancing measures imposed by governments have led the logistics service providers to limit their operations. However, the logistics and supply-chain industry players are focusing on digital technologies to curb the negative effect of the pandemic on the logistics operations based on traditional logistics concepts. This is boosting the digitization in logistics supply chain market. Nonetheless, the lower volumes of production are limiting the full-fledged usage of the fleets, which is creating tremors on the logistics service providers' business, thereby leading to slower growth of digitization in logistics supply chain market.

Increasing Demand from Manufacturing and Automotive Sectors

Industries such as electronics, construction equipment, railway equipment, and general manufacturing produce enormous volumes of products every year. Logistics plays a vital role in the delivery of raw material from the supplier to the site of production as well as in the finished goods supply chain management from the point of dispatch (factories) to the point of delivery (customers). The constantly increasing demand from the abovementioned manufacturing industries for raw material procurement and post-production logistics support is propelling the need for software-based digital technologies among the manufacturers and logistics service providers.The manufacturing and logistics industries are among the top-ranking industries to implement these advanced technologies. Over the years, the automotive industry has been growing at an exponential rate, with most of the auto OEMs experiencing growth in demand, production, and annual revenues. The automotive industry encompasses a huge supply chain, including raw material suppliers, component suppliers, warehousing, distribution centers, and retailers. Thus, the stupendous growth of automotive industry is anticipated to boost the digitalization in its supply chain and logistics.

Strategic Insights

Market initiative is a strategy basically adopted by the companies to expand their footprint across the world and meet the growing customer demand. The digitization in logistics supply chain market players are mainly focusing on the development of advanced and efficient products. The adoption of partnerships, contracts, joint ventures, funding, and new office establishment strategieswould allow them to maintain their brand name in the global marketplace.

2020: Pagero and SAP SE signed an agreement to offerextended global reach to the SAP Ariba solutions and Ariba Network. Pagero would offer B2B and B2G exchange of e-orders, e-invoices, messages, and order responses.

2020: Advantech collaborated with President Chain Store Corp. to develop e-cold chain management, wireless e-paper, and energy monitoring solutions with the application of artificial intelligence of things (AIoT) technology. By this, Advantech has supported 7-ELEVEN in updating a futuristic convenience store named X-STORE 3.

2018: Cognizant implemented a supply chain transformation program for Amway India, one of the largest direct-selling FMCG companies of India. Cognizant completed the modernization of Amway's 28 warehouses in India. With the help of new processes, automation, and systems, Amway has gained better visibility in inventory and warehouse operations.

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