How technology is digitally transforming the transport and logistics sector.

The transport and logistics (T&L) sector is widely viewed as the backbone of the global economy, moving billions of dollars’ worth of goods every day by land, sea and air. According to a recent report by Statista, the worldwide T&L market was worth a staggering $10.71 trillion in 2023, and this figure is projected to grow to $14.08 trillion by the end of 2028.

It is also a sector that has benefitted greatly from digital transformation in recent years, thanks to its willingness to embrace new technologies that have streamlined supply chain processes, shortened journey timesand improved customer experiences across the board.

However, with the technology industry moving at a relentless pace, T&L organisations are constantly investing in new solutions to optimise their operational efficiency and gain an all-important competitive advantage. This is reflected in a recent report by Research and Markets, which estimates that global spending on digital transformation in the logistics sector is expected to grow from $52.3 billion in 2022, to over $108 billion by 2030, growing at a CAGR of 9.6%.