Great effect. Similar to drones, autonomous trucks are also on their way to carry the digital transformation in logistics industry. According to IDC, worldwide spending on blockchain will grow to $11 billion by 2022 at a CAGR of 73 percent. And it’s happening as a number of disruptive trends converge, reshaping the competitive landscape and changing customers expectations. The first step taken by many companies in this industry … These transformations enable companies to add such new services as customs clearance, inland transportation, and warehousing. Craig Fuller, Managing Director of the Blockchain in Transport Alliance (BiTA), says, "Blockchain is a technology that's ideally suited to the transportation industry and one we believe – insist really – will prove transformational in its impact. January 2016 4 World Economic Forum White Paper Digital Transformation of Industries: Logistics 2. Digital transformation in the logistics industry Saturday 19, 12 2020 Technology is the key to the effectiveness of the logistics industry and increased competitiveness of enterprises. The Digital Transformation Spending in Logistics market in the U.S. is estimated at US$13.4 Billion in the year 2020. Market Insider is a business news aggregator for traders and investors that proposes to you the latest financial markets news, top stories headlines and trading analysis on stock market, currencies (Forex), cryptocurrency, commodities futures, ETFs & funds, bonds & rates and much more. According to the 2018 22nd Annual 3PL study, two key trends emerging in the 3PL sector are increasingly close relationships between shippers and 3PL providers and the inevitable impact of digital technologies on the space, including automation and blockchain. A number of small and traditional businesses are striving to build an online presence and set up logistics for direct-to-home deliveries of their products. Technavio’s Global Third-party Logistics Market report predicts the 3PL market to grow at a CAGR of 5.77 percent from 2018 to 2022, and according to Forbes Insights, going forward 61 percent of companies will be relying significantly more on external providers for supply chain and transportation needs. Digital transformation in logistics and transportation helps companies from the sector to take advantage of new technologies and stay competitive in a market that … We collaborate to create business concepts and new service models to gain a competitive edge for the supply chain and logistics … However, to speed up digital transformation, VLA also petitioned the state to speedily complete the legal framework for digital transformation, especially on security, anti-sabotage cooperation, digital administration and taxation of digital technology. Many examples of how AI is improving business are already in place: natural language processing (NLP) can help logistics companies detect financial anomalies by extracting critical information from invoices; predictive network management can identify potential shipping delays and help companies plan freight more efficiently; and predictive risk management means using NLP tools to monitor online news and conversations related to supply chain factors and take proactive corrective action. This project is being actively researched and prepared to be deployed in the next three months. Logistics is developing steadily as the need for international and domestic trade is steadily growing. Benefits of Digital Transformation in Logistics. 6 Billion by 2027. Most Logistics and SCM companies believe that RFID can make their operations more efficient and build a competitive edge in their market. In 2018, the global Digital Transformation in Logistics market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025. The future of logistics is digital (and the environment will also thank us) According to the World Economic Forum, between now and 2025 there are $ 1.5 trillion worth in value for logistics operators and an additional $ 2.4 trillion in benefits for the company following the digital transformation of the industry It’s an exciting time for the centuries-old industry. Moving Forward in the Logistics and Freight Industry. The digital transformation of logistics: Threat and opportunity Digitalization threatens to fundamentally disrupt logistics but could also help the industry reduce its inefficiencies and shrink its environmental impact. The radical digital transformation coming to the logistics industry presents many opportunities. 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