Cloud Logistics Market expected to reach US$ 67.8 billion by 2034, rising at a 12.3% CAGR | Future Market Insights, Inc.
Cloud logistics market experiences robust growth driven by tech innovation & global adoption, offering scalability & efficiency. The growing popularity of IoT-connected devices, large data volumes, and enhanced service quality primarily propels the market
NEWARK, Del, Dec. 05, 2023 (GLOBE NEWSWIRE) — The cloud logistics market is estimated to be worth US$ 21.3 billion in 2024 and is projected to be valued at US$ 67.8 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 12.3%. The demand for cloud computing in the logistics industry has increased owing to crucial benefits, including minimizing downtime, ensuring business continuity, and mitigating the risk of data loss.
The rapid growth of e-commerce and globalization has increased the complexity and volume of logistics operations, driving the need for cloud logistics solutions as cloud logistics solutions offer the connectivity needed to manage global supply chains efficiently, catering to the needs of online retail and global markets.
Cloud logistics solution are cost-efficient as cloud-based logistics eliminate the need for extensive hardware investments and maintenance costs. Cloud-based systems allow stakeholders to access data and manage operations from anywhere, fostering collaboration and enabling remote work capabilities, driving the market demand.
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Cloud logistics solutions are being adopted across various industries beyond traditional logistics sectors, including healthcare, retail, manufacturing, and more. This diversification of applications broadens the market for cloud logistics.
Cloud computing offers enhanced disaster recovery capabilities in the logistics industry, enabling logistics firms to swiftly rebound from unforeseen events like system failures or natural tragedies. Cloud technology provides disaster recovery options, including backup and restore replication and failover solutions. These features ensure the resilience and continuity of logistics operations during challenging situations.
Key Takeaways
- From 2019 to 2023, the cloud logistics market was valued at a CAGR of 8.6%
- Based on OS type, the web-based OS segment is expected to account for a share of 53.0% in 2024.
- Global cloud logistics demand in China is predicted to account for a CAGR of 12.8% in 2024.
- In the United States, the cloud logistics industry is expected to account for a CAGR of 10.1% in 2024.
- Germany is projected to expand by a value CAGR of 11.7% between 2024 and 2034.
- Cloud logistics market in Japan is anticipated to record a CAGR of 13.5% in 2024.
“The restoration of industrial growth, along with the elements of the fourth industrial revolution, is anticipated to drive the market growth during the forecast period,” opines Sudip Saha, managing director at Future Market Insights (FMI).
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Competitive Landscape
Key players focus on organic growth strategies like product launches and approval. Collaborations and partnerships with key players and acquiring niche players are critical strategies followed by leading cloud logistics in the market.
Key players operating in the cloud logistics market
- Bwise
- IBM Corporation
- Oracle Corporation
- Microsoft Corporation
- SAP SE
- Thomson Reuters Corporation
- Trimble Transportation
- Transplace (an Uber Freight Co.)
- Descartes Systems Grou
- C. H. Robinson
- MetricStream Inc.
Product Offering
- Oracle Cloud provides cloud-based solutions for logistics, offering services such as transportation management, warehouse management, and supply chain planning to streamline operations.
- SAP Cloud Platform offers a range of logistics solutions, including SAP Integrated Business Planning and SAP Transportation Management, facilitating end-to-end supply chain visibility and optimization.
- Cisco’s cloud-based networking solutions play a role in logistics by providing secure and efficient connectivity for logistics systems, IoT devices, and data management.
- Accenture offers cloud-based consulting and technology services that assist logistics companies in digital transformation, process optimization, and implementing cloud-based logistics solutions.
Restraints:
Despite its exponential growth, the Cloud Logistics Market faces certain challenges, such as:
- Concerns regarding data security and privacy in cloud-based logistics systems
- Initial implementation costs and complexities associated with integrating cloud solutions
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Cloud Logistics Segments Covered in the Report
Type:
- Public
- Private
- Hybrid
- Multi
OS Type:
- Native
- Web-based
Enterprise Size:
- Large Enterprise
- Small and Medium Enterprises
Industry Vertical:
- Consumer Electronics
- Healthcare
- Automotive
- Food & Beverage
- Other
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global cloud logistics market, providing historical data from 2019 to 2023 and forecast statistics between 2024 and 2034.
To understand opportunities in the cloud logistics industry, the industry is segmented based on Type (Public, Private, Hybrid, Multi), OS Type (Native, Web-based), by Enterprise Size (Large Enterprises, SMEs), by Industry Vertical (Retail, Consumer Electronics, Healthcare, Automotive) Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, the Middle East, and Africa).
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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