NEW
YORK, June 19, 2024 /PRNewswire/ -- The global
digital shipment market size is estimated to grow by USD 94.17 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
over 29.17% during the forecast period. Increasing
customer demand for faster and more streamlined services is
driving market growth, with a trend towards globalization
in the supply chain. However, cybercrime risks poses a
challenge. Key market players include AP Moller Maersk AS,
Boxnbiz Technologies Pvt. Ltd., CMA CGM Group, COSCO Shipping
International Co. Ltd., Descartes Systems Group Inc., Deutsche Post
AG, Evergreen Marine Corp. Taiwan Ltd., FedEx Corp., Flexport Inc.,
Forto GmbH, Hapag Lloyd AG, HMM Europe Ltd., Kuehne Nagel
Management AG, MSC Mediterranean Shipping Co. SA, Ocean Network
Express Pte. Ltd., Pacific International Lines Pte. Ltd., TRAXENS,
Yang Ming Marine Transport Corp., Zencargo, and ZIM Integrated
Shipping Services Ltd.
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segments, customer landscape, and companies- View the snapshot
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Digital Shipment
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
29.17%
|
Market growth
2024-2028
|
USD 94171.7
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
22.16
|
Regional
analysis
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Performing market
contribution
|
APAC at 30%
|
Key
countries
|
China, US, Japan,
Germany, and South Korea
|
Key companies
profiled
|
AP Moller Maersk AS,
Boxnbiz Technologies Pvt. Ltd., CMA CGM Group, COSCO Shipping
International Co. Ltd., Descartes Systems Group Inc., Deutsche Post
AG, Evergreen Marine Corp. Taiwan Ltd., FedEx Corp., Flexport Inc.,
Forto GmbH, Hapag Lloyd AG, HMM Europe Ltd., Kuehne Nagel
Management AG, MSC Mediterranean Shipping Co. SA, Ocean Network
Express Pte. Ltd., Pacific International Lines Pte. Ltd., TRAXENS,
Yang Ming Marine Transport Corp., Zencargo, and ZIM Integrated
Shipping Services Ltd.
|
Market Driver
The global digital shipment market is experiencing growth due to
increased globalization in supply chains and the expansion of
consumer goods companies across international borders. This trend
leads to the development of new trade corridors, such as the
Ethiopian Berbera Corridor, the Singapore-Guangxi distribution center, and the
International North-South Transport Corridor. These corridors
facilitate the transportation of goods like electronics, apparel,
and vegetables, generating demand for efficient digital shipment
services. Consequently, globalization positively impacts the
market's growth during the forecast period.
The digital shipment market is experiencing significant growth
with the implementation of technology in the logistics sector.
Real-time tracking, volumetric pricing, and predictive analytics
are key trends shaping this industry. Companies are leveraging
technology to improve efficiency, reduce costs, and enhance
customer experience. The use of digital platforms for booking,
managing, and monitoring shipments is becoming increasingly
popular. Consumers and businesses alike appreciate the transparency
and convenience offered by these solutions. The adoption of digital
technologies is also driving innovation in areas such as predictive
maintenance and supply chain optimization. Overall, the digital
shipment market is poised for continued growth and
transformation.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The digital shipment market faces significant challenges from
cybersecurity threats. With the rise of connectivity and
digitalization, there's an increased risk of hacking
and ransomware attacks. Shipping companies prioritize data
security and safety alongside operational efficiency. Cybercrimes,
such as cargo manipulation, system interference, and GPS jamming,
can negatively impact financial performance and brand image.
Innovative technologies are used for cargo tracking, paper filings,
and supply chain visibility, necessitating robust cybersecurity
measures for interoperability and data protection.
- The digital shipment market faces several challenges in its
transformation process. Delay in digital adoption, lack of
standardization, and integration issues are major hurdles. Industry
players struggle with implementing digital technologies due to high
investment costs and resistance to change. Furthermore, the need
for seamless integration between different systems and platforms
adds to the complexity. Additionally, data security and privacy
concerns are crucial in this sector, making it essential to
implement robust cybersecurity measures. Lastly, keeping up with
the latest technologies and trends is a continuous challenge for
market players.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This digital shipment market report extensively covers market
segmentation by
- Type
- 1.1 Digital shipping lines
- 1.2 Digital freight forwarders
- Deployment
- 2.1 Cloud
- 2.2 On-premises
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Digital shipping lines- The digital shipping
lines segment dominates the digital shipment market in 2023, driven
by significant revenue contributions. Key players like Maersk Line,
Mediterranean Shipping Co., Hapag Lloyd, and CMA CGM operate in
this sector. Digital shipping lines use advanced tracking
technology and offer online booking and vessel selection. While
they provide competitive rates and real-time cargo tracking, they
may not always offer additional transport services or the best
rates. Their liability for cargo damage or loss adds value. These
factors fuel the growth of the digital shipping lines segment.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
In the dynamic world of digital shipment markets, advance
tracking features have revolutionized the e-commerce industry.
Consumers now have real-time access to information regarding their
orders, enabling better transportation methods and ensuring
efficiency. Analytical reports provide essential insights into
impacting factors, allowing businesses to make informed decisions
and seize imminent investment pockets. Cross-border e-commerce
thrives on easy documentation and instant pricing, offering
convenience and instant quotes to consumers. The market continues
to evolve, with cancellation of orders and convoy systems becoming
increasingly common. Air transportation remains a crucial
component, ensuring timely delivery of goods. Overall, the digital
shipment market is a critical component of the e-commerce
ecosystem, driving growth and innovation.
Market Research Overview
The Digital Shipment Market encompasses various technologies and
processes that facilitate the digitalization of international
freight forwarding and logistics. This includes the use of advanced
analytics, digital platforms, and automation to streamline and
optimize the shipping process. Key aspects of the market include
the implementation of blockchain technology for secure and
transparent transactions, the integration of IoT sensors for
real-time tracking, and the adoption of AI and machine learning for
predictive analytics and demand forecasting. Additionally, the
market is driven by the increasing need for faster and more
efficient shipping solutions, as well as the growing trend towards
e-commerce and globalization. Overall, the Digital Shipment Market
offers significant opportunities for innovation and growth in the
logistics industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Digital Shipping Lines
- Digital Freight Forwarders
- Deployment
-
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio