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Electronics Parts Forward Logistics Market in APAC – Penetration of Blockchain Technology to Drive Growth | Technavio – Viral News

Electronics Parts Forward Logistics Market in APAC – Penetration of Blockchain Technology to Drive Growth | Technavio

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Electronics Parts Forward Logistics Market in APAC – Penetration of Blockchain Technology to Drive Growth | Technavio


LONDON–()–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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