By : Kirtika and Neelarya

Technologies like IoT (internet of things), Artificial Intelligence or AI and blockchain are some of the essential emerging technologies that have currently changed the entire shipping and logistics industry. This has led to the shipping and Logistic companies look forward to the expanding capabilities of market fluctuations. The demand for perfect and timely order deliveries and other requirements will post the shipping and Logistic companies to get even more digitally advanced.

As per the recent research, it has been estimated that the shipping and Logistic industries will be worth more than USD 4.8 billion by the end of the year 2021. Digital disruptions like mobility, cloud computing, artificial intelligence are driving a major change in the shipping and Logistic industry.

Here are some of the top trends that are reshaping the S&L or the shipping and logistics industry:

Efficiency and safety in leveraging new advancements

Artificial intelligence is the coordinations business' pass to a completely digitized, data-driven future. While AI-empowered self-driving trucks and mechanized ports are as of now a reality, the Internet of Things (IoT) can acquire extra worth. Information from smart connected gadgets in the inventory network organization can be dissected by Machine-Learning (ML) calculations for endless advantages — from preventive upkeep and fix to improved effectiveness and cost pressure.

The advent of elastic logistics

Elastic logistics is the capacity of S&L suppliers to grow and recoil their abilities across topographies in light of market and request vacillations, changing buyer inclinations, and socio-political changes. To be versatile, S&L organizations should consider new ideas and influence the force of joint effort imaginatively. Organizations, for example, DHL and FedEx are now joining forces with local market players and public postal services to address the last-mile conveyance issues.

Blockchain- the future of logistics

Logistics market players, for example, UPS are wagering on blockchain as the eventual fate of logistics. Few logistics based organization as of late joined Blockchain in Transport Alliance (BiTA), a worldwide norms association pointed toward concocting creative ways and managing the utilization of blockchain in coordinations. Blockchain innovation can possibly offer uncommon degrees of operational straightforwardness and discernibility to logistics companies.

Is covid-19 a hindrance in the shipping & logistics industry?

Logistics firms, which are engaged with the development, stockpiling, and stream of merchandise, have been straightforwardly influenced by the COVID-19 pandemic. As an essential piece of significant worth chains, both inside and across worldwide lines, Logistics firms, encourage exchange and trade and assist organizations with getting their items to clients. Store network disturbances to the area brought about by the pandemic could, consequently, sway intensity, financial developmen