LONDON--(BUSINESS WIRE)--Technavio’s new research report on the electronics parts forward logistics market in APAC offers an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio predicts a trend as a major factor that has the potential to substantially impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the electronics parts forward logistics market in APAC will grow at a CAGR of over 9% during the forecast period. One of the key factor driving the growth of the market is the increasing electronic parts trade between China and India. China and India have cumulatively witnessed a growth of around 35% in the global merchandise trade during 1990-2015 because of the presence of a sizeable middle-income population. High population density acts as a key driver for trade between India and China. In the middle of 2017, India increased import duty on certain product categories such as mobile phones, watches, and perfumes that are imported from China. However, increased import duty will take a long time to have a serious impact on China's imports to India.
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In this report, Technavio highlights the penetration of blockchain technology in logistics supply chain as one of the key emerging trends in the electronics parts forward logistics market in APAC:
Penetration of blockchain technology in logistics supply chain
Blockchain technology is also known as distributed digital ledger. It is used to store and transform data digitally with high security. This technology maintains the sequence of all transactions and shares it with the two transacting parties. The technology aids to increase transparency and reduce the possibilities of data corruption or data alteration during transactions between two parties. Blockchain technology is moving toward the growth stage in developed economies. But, in APAC, the technology is in its introduction stage. Emerging economies in APAC such as China and Japan have started implementing this technology in different industries such as pharmaceuticals and service industries.
“As a service industry, logistics is expected to benefit from the blockchain technology. The implementation of the blockchain technology in logistics supply chain showed an increase of around 30% efficiency when compared with conventional logistics supply chain. In case of electronics parts logistics, blockchain technology is expected to remedy challenges because of stock keeping unit proliferation,” says a senior analyst at Technavio for research on transportation and distribution.
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Electronics parts forward logistics market in APAC – segmentation analysis
This market research report segments the electronics parts forward logistics market in APAC into the following end-users (industrial and consumer electronics) and key regions (China, Japan, and others).
Of the two major end-users, the industrial segment held the largest market share in 2017, contributing to nearly 46% of the market. This region is anticipated post steady growth and dominates the global market throughout the forecast period.
China was the dominating region for the electronics parts forward logistics market in APAC in 2017, accounting for a market share of almost 31%. This region is expected to grow steadily during the forecast period.
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