Global Cloud Logistics Market Size/Share Cap Expected to Reach USD 59.85 Billion with 13.0% CAGR Rise By 2032: Polaris Market Research
Global cloud logistics market size & share is currently valued at USD 17.73 billion in 2022 and is anticipated to generate an estimated revenue of USD 59.85 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 13.0% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023-2032.
New York, NY, Oct. 23, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a recent study report titled “Cloud Logistics Market Share, Size, Trends, Industry Analysis Report, By Type, By OS Type, By Enterprise Size (Large Enterprises, SMEs), By Industry Vertical, By Region, And Segment Forecasts, 2023 – 2032” in its research database.
According to the research report, the global cloud logistics market size & share is currently valued at USD 17.73 Billion in 2022 and is anticipated to generate an estimated revenue of USD 59.85 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 13.0% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023-2032.
What Exactly is Cloud Logistics? How Big is the Cloud Logistics Market Size & Share?
The most recent generation of logistics solutions is introduced to the global supply chain market by Cloud Logistics. Yes, the advancement of cloud computing has brought forth a digitally connected world that is necessary for the quick expansion of any firm. Also, when it comes to reaching revenue targets, cloud-based logistics software outperforms conventional supply chain applications.
The term “cloud logistics” describes how supply chain management and logistics operations can be made more efficient and streamlined by utilizing cloud computing technology. It makes use of cloud-based platforms and services to improve logistical processes’ scalability, visibility, and efficiency. With the use of web-based apps and data analytics, this creative method enables businesses to efficiently handle duties, including order processing, inventory management, transportation scheduling, and real-time tracking. By guaranteeing the timely delivery of goods, cloud logistics gives businesses the adaptability to change with the market, lower operating costs, and increase customer satisfaction, which boosts the cloud logistics market demand.
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Essential Takeaways for the Report
- The growing popularity of IoT-connected devices, large data volumes, and enhanced service quality primarily propels the market.
- The proficiency to efficiently adapt to changing industry requirements is driving the market.
- The cloud logistics market segmentation is primarily based on the OS type, type, Industry Vertical, enterprise size, and region.
- Asia Pacific is anticipated to expand at a fast speed during the forecast period.
Leading Players Appeared in the Report
- BluJay Solutions
- C. H. Robinson
- CargoSmart Limited
- Descartes Systems Group
- IBM Corporation
- MetricStream, Inc.
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- ShipBob, Inc.
- Thomson Reuters Corporation
- Transplace (an Uber Freight Co.)
- Trimble Transportation
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Important Growth Aspects of the Market
- The Changing Requirements of Businesses: The remarkable flexibility of cloud logistics to meet evolving business requirements is one of the main factors propelling the cloud logistics market growth. In the current dynamic and swiftly changing world of supply chains, businesses encounter numerous obstacles and unpredictabilities. Cloud-based logistics solutions provide a scalable and adaptable platform that enables companies to adapt to these developments quickly.
- Cloud Logistics Advantages: Cloud logistics’ scalability is very helpful for companies that are expanding or growing. By ensuring that logistics operations can readily expand in step with the demands of the company, bottlenecks and disruptions are avoided. This flexibility makes cloud logistics an essential force in today’s cutthroat industry since it not only increases operational effectiveness but also lowers costs and boosts customer satisfaction.
Market’s Latest Key Trends
- Cloud Computing Adoption: The logistics industry can benefit greatly from the adoption of cloud computing in a number of ways, including uninterrupted corporate operations, less downtime, and reduced risk of data loss. These advantages are crucial since downtime can result in large revenue losses and harm a company’s reputation. To take advantage of the advantages that cloud computing brings to their operations, a lot of logistics companies are adopting cloud logistics, expanding the cloud logistics market size.
Cloud Logistics Market: Report Scope
|Revenue Forecast in 2032||USD 59.85 Billion|
|Market size value in 2023||USD 19.99 Billion|
|Expected CAGR Growth||13.0% from 2023 – 2032|
|Forecast Year||2023 – 2032|
|Segments Covered||By Type, By OS Type, By Enterprise Size, By Industry Vertical, By Region|
|Customization Options||Customized purchase options are available to meet any research needs. Explore customized purchase options|
- Web-Based Sector Holds a Significant Market Share
Transportation, order tracking, inventory control, and supply chain coordination are just a few of the logistics management functions that software is intended to improve and expedite. This software can be accessed and used through a web browser on the internet. More ease and flexibility in logistics management are made possible by its ability to enable users to view and manage logistics data and operations from any location with internet connectivity.
Moreover, Native OS will expand significantly. Native logistics software is designed from the ground up to fully utilize the advantages of cloud computing, in contrast to traditional software that has been modified for use in the cloud. Furthermore, this kind of software is designed to benefit from important cloud technologies like resilience, scalability, and adaptability.
- The Retail Sector Holds the Largest Share
The retail sector holds the largest cloud logistics market share in 2022. It is benefiting greatly from cloud logistics on many fronts. These advantages include cost reductions in storage, infrastructure, and computing expenses, as well as quick access to vital operational and inventory data. As a result, cloud logistics is causing a total transformation in the retail sector, leading to improved customer experiences, more data security, improved inventory control, and improved disaster management capabilities.
Moreover, the healthcare industry will expand quickly. Medical institutions can manage medical devices, drugs, and other supplies while keeping an eye on inventory levels due to these solutions’ real-time insights into the healthcare supply chain. This improved visibility is essential for avoiding stock shortages and guaranteeing the ongoing availability of vital medical supplies.
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Asia Pacific: the cloud logistics market in Asia Pacific will experience substantial growth. The rapid adoption of cloud logistics has altered supply chain and warehouse management procedures across numerous sectors in the region. To address issues and capitalize on the benefits of cloud-based supply chains, this vibrant and diverse market has embraced cloud-based solutions. The region has also seen a significant increase in e-commerce and digital transformation.
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Market’s Common Questions Answered in the Report
- How big is the cloud logistics market?
- What is the expected market value and growth rate during the forecast period?
- Which segments are included in the report?
- What growth factors are propelling the cloud logistics market sales?
- What are the key market trends and opportunities?
- Which region is leading the industry?
- Who are the cloud logistics market key players?
- What is the study period of the market?
Polaris Market Research has segmented the cloud logistics market report based on type, OS type, enterprise size, Industry Vertical, and region:
By Type Outlook
By OS Type Outlook
By Enterprise Size Outlook
- Large Enterprise
- Small and Medium Enterprises
By Industry Vertical Outlook
- Consumer Electronics
- Food & Beverage
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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