Impact of COVID-19 on Digitization in Logistics

Impact of COVID-19 Pandemic on Digitization in Logistics Supply Chain Market

The key stakeholders in the digitization in logistics supply chain market are technology solution providers, technology service providers, logistics service providers, and end-user industries. The technology solution providers include connected device or other hardware manufacturers and software developers.

The technology service providers refer to the consultants or technology consulting service providers, integrators or implementation service providers, and others. A few of the prominent technology solution providers include Accenture Plc., IBM Corporation, SAP SE, and Capgemini. On the other hand, the technology service providers include The Supply Chain Consulting Group Ltd., REPL Group Worldwide Ltd., and Brain & Company Inc.

The digitization in logistics supply chainmarket was valued at US$ 11,794.24million in 2019 and is projected to reach US$ 23,607.06million by 2027; it is expected to grow at a CAGR of 8.5% from 2020 to 2027.

Developing countries in the world are experiencing rapid industrialization, which mainly results in the rise in number of manufacturing facilities. Various multinational companies have their manufacturing plants in several developing countries. The expansion of multinational companies to these countries generates substantial demand for strong internet capabilities to streamline numerous operations. The logistics and supply chain are among the key industries in any country, and due to the fast maturation of digital technologies in theseindustries, the demand for the same is escalating in developing countries.

This supports the growth of the Internet of Things (IoT) in developing countries. IoT-enabled processes boost task efficiency and reduce accidents. In addition, the IoT enables real-time monitoring, tracking, and tracing for both international and domestic transit, thereby offering higher levels of visibility to the service providers and customers into logistics.


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