PUBLISHER: KBV Research | PRODUCT CODE: 1565263
PUBLISHER: KBV Research | PRODUCT CODE: 1565263
The Global High-tech Logistics Market size is expected to reach $95.2 billion by 2031, rising at a market growth of 11.6% CAGR during the forecast period.
The Europe segment procured 30% revenue share in the high-tech logistics market in 2023. Europe has been a hub for high-tech logistics innovation, with countries like Germany, France, and the UK leading in adopting smart warehousing, automated logistics systems, and sustainable transportation solutions. The region's focus on sustainability and the development of green logistics solutions, along with the implementation of stringent regulations on carbon emissions, has further fueled the growth of the high-tech logistics market in Europe.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 2024, Cosco Shipping Lines Co. Ltd. unveiled an initiative focused on adopting digital technologies, enhancing the industry ecosystem through AI and blockchain, prioritizing efficiency and customer experience, and committing to green development by investing in clean energy and emissions reduction to achieve net-zero goals. Moreover, In July, 2024, C.H. Robinson Worldwide, Inc. unveiled Digital Dispatch, a data science and AI-powered platform for real-time load matching. In a competitive freight market, it provides carriers with instant access to relevant loads, helping them secure the best options for their network and resulting in improved business outcomes and customer service.
Market Growth Factors
Supply chain operations are being transformed by the heightened demand for automation and artificial intelligence (AI) in logistics, which is signifying a transition from manual processes to highly efficient, automated systems. The logistics sector is increasingly reliant on automation, as it is essential for ensuring efficiency, accuracy, and speed. Automated technologies such as robotic sorting, automated picking systems, and AI-driven decision-making drastically reduce human error, minimize delays, and optimize the logistics chain. Hence, logistics companies embracing automation and AI will continue to propel the market's growth.
Additionally, The logistics industry has been fundamentally transformed by the rapid development of the e-commerce sector, which has compelled providers to adopt more reliable, flexible, and fast delivery options in order to meet the increasing expectations of customers. According to the United Nations Conference on Trade and Development (UNCTAD), global e-commerce sales surged to $26.7 trillion in 2020, highlighting the immense scale of online retail globally. Thus, the continuous growth of both domestic and cross-border e-commerce is pushing logistics providers to invest heavily in high-tech infrastructure and solutions, thereby supporting the expansion of the market.
Market Restraining Factors
Setting up advanced logistics systems often requires the integration of cutting-edge technologies such as artificial intelligence (AI), the Internet of Things (IoT), and automation, all of which demand a substantial upfront financial commitment. These systems typically involve sophisticated hardware like sensors, automated machinery, and robotics, alongside the deployment of specialized software designed for real-time data tracking, route optimization, and supply chain analytics. Hence, because of these factors, the overall growth of this market may be hampered.
Service Outlook
Based on service, this market is classified into transportation, warehousing & storage, inventory management, and distribution & fulfillment. The warehousing & storage segment procured 31% revenue share in this market in 2023. The growing adoption of smart warehousing solutions, including robotics, IoT-enabled sensors, and AI-powered inventory systems, helped logistics providers optimize storage space and reduce operational costs. The demand for efficient warehousing solutions has been driven by the need to store and manage a higher volume of goods, particularly with the rise of e-commerce and global trade.
Industry Outlook
On the basis of industry, this market is divided into semiconductor industry, consumer electronics, medical devices, telecommunications equipment, and aerospace & defense technologies. The consumer electronics segment recorded 28% revenue share in this market in 2023. With the continuous rise in demand for smartphones, tablets, laptops, and smart home devices, logistics providers handled large volumes of products and ensured timely delivery to meet market demands.
Regional Outlook
Region-wise, this market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment garnered 37% revenue share in this market in 2023. The region's advanced logistics infrastructure drove this, with the presence of major e-commerce giants like Amazon and Walmart and the widespread adoption of cutting-edge technologies such as autonomous vehicles, AI-powered route optimization, and IoT-enabled tracking systems.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global High-tech Logistics Market Report Segmentation
By Service
By Industry
By Geography