PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1570629
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1570629
The Global Cloud Logistics Market was valued at USD 21.2 billion in 2023. Fueled by the rapid expansion of the e-commerce sector, the market is projected to grow at a CAGR of over 12% from 2024 to 2032. The International Trade Administration reports that global B2B e-commerce sales are on the rise, with projections indicating the market to surpass USD 30 trillion by 2026.
Cloud logistics solutions now prioritize scalability and flexibility, enabling businesses to swiftly respond to changing demands, especially in the booming e-commerce arena. Additionally, with an increasing focus on sustainability, companies are utilizing cloud logistics to optimize routes, curtail fuel consumption, and minimize carbon footprints. Service providers are continuously enhancing their offerings to bolster customer logistics operations. For example, in February 2024, Oracle introduced advanced logistics features in its Oracle Fusion Supply Chain and Manufacturing (SCM). Updates to Oracle Transportation Management and Oracle Global Trade Management, integral to Oracle Cloud SCM, empower customers with better decision-making, cost reductions, enhanced visibility, and streamlined regulatory compliance.
The cloud logistics industry is classified into component, deployment model, enterprise size, operating system, service, end-user industry, and region.
The market segments enterprises into large corporations and SME. In 2023, large enterprises commanded over 65% of the market share and are projected to exceed USD 35 billion by 2032. Given their engagement with intricate global supply chains, large enterprises benefit from cloud logistics' advanced tools that optimize processes, automate tasks, and boost operational efficiency.
End-user industries for the cloud logistics market encompass retail and e-commerce, manufacturing, healthcare, automotive, aerospace and defense, food and beverage, chemicals, and more. The retail and e-commerce sector accounted for roughly 24% share in 2023. In this sector, cloud logistics are pivotal for managing high-volume, fast-paced supply chains, emphasizing rapid order fulfillment and customer satisfaction. With features like real-time tracking and inventory oversight, retailers can swiftly respond to changing consumer demands and manage stock across multiple channels. These platforms also offer the scalability to navigate peak times, such as holidays and promotions, and leverage advanced analytics for route optimization and quicker deliveries.
In 2023, North America captured approximately 35% of the cloud logistics market share. This dominance is attributed to the region's robust technological infrastructure and widespread digital solution adoption across various sectors. As a front runner in technological innovation, North America emphasizes digital transformation, harnessing technologies like AI, machine learning, and IoT to refine supply chain operations, boost efficiency, and cut costs. This commitment to technological advancement propels the uptake of cloud logistics solutions, which promise superior features for optimized supply chain management.