Technology

Digital Shipment Market size is set to grow by USD 94.17 billion from 2024-2028, increasing customer demand for faster and more streamlined services boost the market, Technavio

Published

3 months ago

June 19, 2024

NEW YORK, June 19, 2024 /PRNewswire/ — The global digital shipment market size is estimated to grow by USD 94.17 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 29.17% during the forecast period. Increasing customer demand for faster and more streamlined services is driving market growth, with a trend towards globalization in the supply chain. However, cybercrime risks poses a challenge. Key market players include AP Moller Maersk AS, Boxnbiz Technologies Pvt. Ltd., CMA CGM Group, COSCO Shipping International Co. Ltd., Descartes Systems Group Inc., Deutsche Post AG, Evergreen Marine Corp. Taiwan Ltd., FedEx Corp., Flexport Inc., Forto GmbH, Hapag Lloyd AG, HMM Europe Ltd., Kuehne Nagel Management AG, MSC Mediterranean Shipping Co. SA, Ocean Network Express Pte. Ltd., Pacific International Lines Pte. Ltd., TRAXENS, Yang Ming Marine Transport Corp., Zencargo, and ZIM Integrated Shipping Services Ltd.

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Digital Shipment Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 29.17%

Market growth 2024-2028

USD 94171.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

22.16

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 30%

Key countries

China, US, Japan, Germany, and South Korea

Key companies profiled

AP Moller Maersk AS, Boxnbiz Technologies Pvt. Ltd., CMA CGM Group, COSCO Shipping International Co. Ltd., Descartes Systems Group Inc., Deutsche Post AG, Evergreen Marine Corp. Taiwan Ltd., FedEx Corp., Flexport Inc., Forto GmbH, Hapag Lloyd AG, HMM Europe Ltd., Kuehne Nagel Management AG, MSC Mediterranean Shipping Co. SA, Ocean Network Express Pte. Ltd., Pacific International Lines Pte. Ltd., TRAXENS, Yang Ming Marine Transport Corp., Zencargo, and ZIM Integrated Shipping Services Ltd.

Market Driver

The global digital shipment market is experiencing growth due to increased globalization in supply chains and the expansion of consumer goods companies across international borders. This trend leads to the development of new trade corridors, such as the Ethiopian Berbera Corridor, the Singapore–Guangxi distribution center, and the International North-South Transport Corridor. These corridors facilitate the transportation of goods like electronics, apparel, and vegetables, generating demand for efficient digital shipment services. Consequently, globalization positively impacts the market’s growth during the forecast period.

The digital shipment market is experiencing significant growth with the implementation of technology in the logistics sector. Real-time tracking, volumetric pricing, and predictive analytics are key trends shaping this industry. Companies are leveraging technology to improve efficiency, reduce costs, and enhance customer experience. The use of digital platforms for booking, managing, and monitoring shipments is becoming increasingly popular. Consumers and businesses alike appreciate the transparency and convenience offered by these solutions. The adoption of digital technologies is also driving innovation in areas such as predictive maintenance and supply chain optimization. Overall, the digital shipment market is poised for continued growth and transformation.

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Market Challenges

The digital shipment market faces significant challenges from cybersecurity threats. With the rise of connectivity and digitalization, there’s an increased risk of hacking and ransomware attacks. Shipping companies prioritize data security and safety alongside operational efficiency. Cybercrimes, such as cargo manipulation, system interference, and GPS jamming, can negatively impact financial performance and brand image. Innovative technologies are used for cargo tracking, paper filings, and supply chain visibility, necessitating robust cybersecurity measures for interoperability and data protection.The digital shipment market faces several challenges in its transformation process. Delay in digital adoption, lack of standardization, and integration issues are major hurdles. Industry players struggle with implementing digital technologies due to high investment costs and resistance to change. Furthermore, the need for seamless integration between different systems and platforms adds to the complexity. Additionally, data security and privacy concerns are crucial in this sector, making it essential to implement robust cybersecurity measures. Lastly, keeping up with the latest technologies and trends is a continuous challenge for market players.

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Segment Overview

This digital shipment market report extensively covers market segmentation by

Type 1.1 Digital shipping lines1.2 Digital freight forwardersDeployment 2.1 Cloud2.2 On-premisesGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Digital shipping lines- The digital shipping lines segment dominates the digital shipment market in 2023, driven by significant revenue contributions. Key players like Maersk Line, Mediterranean Shipping Co., Hapag Lloyd, and CMA CGM operate in this sector. Digital shipping lines use advanced tracking technology and offer online booking and vessel selection. While they provide competitive rates and real-time cargo tracking, they may not always offer additional transport services or the best rates. Their liability for cargo damage or loss adds value. These factors fuel the growth of the digital shipping lines segment.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

In the dynamic world of digital shipment markets, advance tracking features have revolutionized the e-commerce industry. Consumers now have real-time access to information regarding their orders, enabling better transportation methods and ensuring efficiency. Analytical reports provide essential insights into impacting factors, allowing businesses to make informed decisions and seize imminent investment pockets. Cross-border e-commerce thrives on easy documentation and instant pricing, offering convenience and instant quotes to consumers. The market continues to evolve, with cancellation of orders and convoy systems becoming increasingly common. Air transportation remains a crucial component, ensuring timely delivery of goods. Overall, the digital shipment market is a critical component of the e-commerce ecosystem, driving growth and innovation.

Market Research Overview

The Digital Shipment Market encompasses various technologies and processes that facilitate the digitalization of international freight forwarding and logistics. This includes the use of advanced analytics, digital platforms, and automation to streamline and optimize the shipping process. Key aspects of the market include the implementation of blockchain technology for secure and transparent transactions, the integration of IoT sensors for real-time tracking, and the adoption of AI and machine learning for predictive analytics and demand forecasting. Additionally, the market is driven by the increasing need for faster and more efficient shipping solutions, as well as the growing trend towards e-commerce and globalization. Overall, the Digital Shipment Market offers significant opportunities for innovation and growth in the logistics industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeDigital Shipping LinesDigital Freight ForwardersDeploymentCloudOn-premisesGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

SK hynix Applies CXL Optimization Solution to Linux

Published

59 mins ago

September 23, 2024

HMSDK, a proprietary memory control solution lauded for its performance, is now available on Linux, the world’s largest open source operating systemHMSDK optimizes performance between heterogeneous memories, increasing bandwidth by 30% and performance by over 12%The company will foster the ecosystem by increasing software competitiveness as well as AI memory such as HBM

SEOUL, South Korea, Sept. 22, 2024 /PRNewswire/ — SK hynix Inc. (or “the company”, www.skhynix.com) announced today that the key features of its Heterogeneous Memory Software Development Kit (HMSDK)1 are now available on Linux2, the world’s largest open source operating system.

1Heterogeneous Memory Software Development Kit (HMSDK): SK hynix’s proprietary software development kit. It enables effective memory control, improving the performance of heterogeneous memory systems such as CXL memory.

2Linux: An operating system developed in 1991 by Linus Torvalds that has since expanded to become the world’s largest open source operating system. Most operating systems for cloud systems and supercomputers, as well as smartphones, cars, and appliances, are built on Linux.

HMSDK is SK hynix’s proprietary software for optimizing the operation of Compute Express Link (CXL)3, which is gaining attention as a next-generation AI memory technology along with High Bandwidth Memory (HBM). Having received global recognition for HMSDK’s performance, SK hynix is now integrating it with Linux. This accomplishment marks a significant milestone for the company as it highlights the company’s competitiveness in software, adding to the recognition for its high-performance memory hardware such as HBM.

3Compute Express Link (CXL): A next-generation interface that efficiently connects CPU, GPU, memory, and other components in high-performance computing systems to support massive, ultra-fast computation. By applying CXL to existing memory modules, the capacity can be expanded by more than 10 times.

In the future, developers around the world working on Linux will be able to use SK hynix’s technology as the industry standard for CXL memory, putting the company in an advantageous position for global collaboration on next-generation memory.

SK hynix’s HMSDK enhances memory package’s bandwidth by over 30% without modifying existing applications. It achieves this by selectively allocating memory based on the bandwidth between existing memory and expanded CXL memory. Additionally, the software improves performance by more than 12% over conventional systems through optimization based on access frequency, a feature which relocates frequently accessed data to faster memory.

The semiconductor industry anticipates full commercialization of CXL in the second half of 2024, coinciding with the release of the first server CPUs featuring the “CXL 2.0” specification. In preparation for this, SK hynix is currently validating CXL 2.0 memory in 96 GB and 128 GB capacities with customers. The company plans to begin mass production by the end of the year.

“For the development and spread of AI systems such as large language models (LLMs), it is now necessary to significantly improve not only semiconductors but also the level of system applications to support them,” said Youngpyo Joo, Head of Software Solution at SK hynix. “With this Linux integration and collaboration, we will strive to improve our status as a total AI memory solutions provider by innovating technologies and expanding the ecosystem in this field.”

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s top-tier semiconductor supplier offering Dynamic Random Access Memory chips (“DRAM”), flash memory chips (“NAND flash”), and CMOS Image Sensors (“CIS”) for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxembourg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.

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SOURCE SK hynix Inc.

Technology

TeraBox Is Set to Provide Premier Cloud Storage Solutions to Top Indonesian University Faculty and Students

Published

59 mins ago

September 23, 2024

Transforming Classrooms: TeraBox’s 1TB Free Cloud Storage Becomes Essential for Educators and Students

TOKYO, Sept. 23, 2024 /PRNewswire/ — TeraBox (“TeraBox” or “the Company”), a globally trusted cloud storage service headquartered in Tokyo, also a favored cloud storage solution among Indonesian users, held its first large-scale campus event at prominent Indonesian universities such as University Diponegoro, Universitas Indonesia, and Institut Teknologi Sepuluh Nopember. The company hosted numerous offline events, attracting interactions from more than 30,500 students and teachers, and handed out 85,000 flyers. Event videos posted on the universities’ official Instagram and YouTube accounts received tens of thousands of views. TeraBox looks forward to deepening its collaboration with academic institutions to offer innovative cloud storage solutions for students.

In an era where digital resources are integral to academic success, TeraBox is committed to becoming an essential tool for students, providing a secure and efficient way to save and share curriculum files and materials, simplifying file management. By offering a massive 1TB (1024GB) of free cloud storage space per account, TeraBox alleviates the challenges of managing extensive educational materials, such as e-books, digital textbooks, learning notes, and experimental data in the new semester to come. Furthermore, TeraBox enhances productivity by enabling students to engage in online assignments and collaborative projects, fostering sharing, collaboration, and communication among students and between students and teachers. TeraBox not only addresses issues related to insufficient memory on devices like smartphones and laptops, but also significantly boosts efficiency in data management in an environmentally friendly manner.

Understanding the need for seamless collaboration, TeraBox features user-friendly sharing options that allow students and faculties to create links with just one click. This facilitates easy sharing of multiple files simultaneously, which can greatly improve collaborative efforts among peers. Whether accessing files from mobile devices or desktops, students can manage their documents effortlessly anytime and anywhere. Feedback from offline surveys reveals that many users in Indonesia are impressed with TeraBox’s offering of 1TB (1024GB) of free storage space. This generous storage not only meets the needs of university students for sharing various social and lifestyle content but also eliminates the necessity of creating multiple accounts with other storage services to fulfill their storage requirements.

As of July 2024, TeraBox boasts over 320 million registered users worldwide, with more than 20 million active daily users across over 231 countries and regions. The platform ensures top-tier security by employing advanced measures such as TLS/SSL protocols, encryption algorithms, and access controls. TeraBox is accredited with ISO standards (ISO 27001/27701/27018) certifications to protect the safety of data storage and transmission. These technologies also guarantee the stored and transmitted information is safe through client-side endpoint encryption within a large-scale distributed system architecture.

About TeraBox

TeraBox, developed by Flextech Inc., is a globally trusted cloud storage app headquartered in Tokyo, Japan. With a focus on intelligent, efficient, and secure cloud storage, TeraBox is dedicated to providing users with innovative and user-friendly solutions for their data storage needs. Download the TeraBox App on Android, iOS, Linux, Mac, and Windows devices, or visit www.terabox.com for online access. To learn more about the fantastic Referral Program, please visit the provided site.

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SOURCE Flextech Inc.

Technology

Elmo Motion Control Exhibiting at Industrial Automation Show in Shanghai, China

Published

59 mins ago

September 23, 2024

Elmo brings live demonstrations to present the power of motion to Hall 5.1 in Booth E181.

PETAH TIKVA, Israel, Sept. 23, 2024 /PRNewswire/ — Elmo Motion Control, a global technology leader in motion control solutions, announces its participation at the annual IAS (Industrial Automation Show) exhibition at NECC in Shanghai, China, from September 24 to September 28. At the show, Elmo will display the Platinum line of servo drives, which include fully certified Functional Safety capabilities in small yet powerful packages, and conduct live demonstrations.

Elmo’s featured demonstrations will include an operating customer XYZT stage dynamic demo with four-axis movement controlled by a single multi-axis servo drive – the Platinum Quartet. Also on the floor will be a multi-axis gantry machine from our customer PBA Systems PTE Ltd and more. In addition, visitors can be the first in China to see the future of motion control – the next-generation motion controller with artificial intelligence readiness and a new line of multi-axis servo drives.

“We look forward to greeting visitors at this year’s show and presenting the latest Elmo products. On display throughout our booth is the future of motion control and the experience of seeing our multi-axis products in action. This year, we created an environment for machine developers to learn about advanced motion performance for any application in real-time,” stated Dr. Wayne Chen, Elmo China GM.

About Elmo Motion Control

Elmo has been a motion control technology leader for over 35 years, with millions of servo drives working 24/7 worldwide. Elmo offers complete motion control solutions from design to delivery of cutting-edge servo drives, network-based multi-axis motion controllers, and integrated servo motors. All solutions can be customized and configured using Elmo’s proprietary advanced and easy-to-use software tools for any machine in any industry, such as semiconductors, lasers, robots, life sciences, industrial automation, AGV, and more. The company employs more than 350 personnel with headquarters in Israel and offices in the United States, China, Germany, Italy, Korea, Singapore, and an additional manufacturing facility in Poland. Elmo has a worldwide distribution network. By advancing motion control with state-of-the-art technology, Elmo makes smart machines even smarter. As of 2022, Elmo is a Bosch Rexroth company.

For more information, visit www.elmomc.com or email marketing@elmomc.com.

Elmo Motion Control:
Robert Dugan, Marketing Manager at Elmo Motion Control
T: +972-(3)-929-2300 (ext. 368)
E: robertd@elmom.com

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SOURCE Elmo Motion Control, Ltd.