As with most other industries, the outbreak has transformed global logistics in profound ways. But unlike most other industries, the decline in economic activity during the pandemic has not impacted global logistics too adversely. The consumption of goods, medicines, and other essential stuff — and thus the corresponding logistics needs — remained relatively unaffected.
According to a recent study, the growth of the global transport and logistics software market is expected to increase at a considerable rate during the forecast period, between 2021 and 2026. In 2021, the market is growing at a steady pace and with the growing adoption of strategies by the main players, the market is expected to rise over the projected horizon.
Some researchers affirm that the pandemic has been an inflection point for the transport and logistics industry too, thereby compelling organizations across the world to focus more closely on gaining end-to-end visibility in their business operations, fleet management, asset tracking, and shipment monitoring.
For your company to be a reference in the market, it needs to invest and apply the results of a new technology well. It is possible to gain an advantage over the competition, adapt to new business models, and offer services more competitively. The market demands it today, and the risk of non-adaptation is to stay out of the globalization that new technologies impose
Whether it’s automotive, financial services, food, or grocery delivery, technology has always been the biggest disrupter in any industry, and the logistics space is no different.
Whether it is automotive, financial services, food, or grocery delivery, technology has always been the biggest disrupter in any industry and the logistics space is no different. As more advanced technologies are getting rolled out, industry pundits reckon that business processes are getting streamlined for companies to deliver better efficiencies. The advancements in technology, such as automated material handling equipment, biometrics, GPS, etc, aid organizations and businesses to work proficiently, thereby spurring the growth of the logistics market across the globe.
The impact for logistics operations is, without a doubt, having to follow these trends for the logistics market to face competitors and become more competitive in the market. It is a process that requires adaptation, versatility, effort, and learning. Are you ready for it?