Logistic Software Industry 2020 Growth
Additionally, factors such as benefits when using Logistic Software Industry such as cost and time savings, proper laboratory management and the emergence of digital technology in developing regions are rapidly increasing the demand for logistics software market. However, certain safety and security issues are the factors that hamper the overall market growth.
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Logistic Software fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Logistic Software to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Logistic Software is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
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The key players in the global logistic software market include- Digilogistics, Advantech Corporation, UTI Worldwide Inc., IBM Corporation, Hexaware Technologies, JDA Software, Oracle, Samsung Electronics Co, SAP AG, and Tech Mahindra among others.
The market for logistics software is highly competitive globally. A competitive landscape is formed by diverse established international brands, domestic brands and new entrants. Via various strategic mergers and acquisitions, innovation, growing investment in research and development and cost-effective software portfolio, the main players are increasingly pursuing market expansion. Due to the presence of several large vendors the logistic software market is highly competitive.
The global logistic software market can be segmented as software type, end-user, and region. Based on software type, the market is divided into labour management, warehouse management, transportation management as well as data management.
The applications covered by the logistic software include healthcare, automotive, government & defines, telecommunication and it, engineering and manufacturing, industrial, oil & gas and others.
In terms of revenue, North America holds the largest share of the total logistics software market followed by Europe. This is due to the region's presence of some high-tech adoption. The United States, Canada and Mexico are countries that mainly contribute to the logistics software market in North America. The transportation and logistics structure in North America evolves because of developments in trade and industries. Developing a globally focused production and distribution network coupled with increasing country import export activities increases the need for the demand for logistical software.
Germany, the Netherlands, Belgium, the United Kingdom and Sweden are Europe's leading logistics countries in terms of transport infrastructure quality, clearance process efficiency and shipment timeliness. The development of relations between European countries and the international import export activities in the coming year will affect the European logistics market. This will positively affect the demand for logistics software in Europe.