The IT spends in the Indian logistics industry is set to increase 2.5 times from current Rs 400 cr to Rs 1000 cr in the next 5 years.
According to a survey by Kale Consultants, technology spending in freight forwarding, which constitutes 14% of the IT demand, is expected to grow by 160% to Rs 170 cr. The market size of the sector is Rs 11,000 cr and is expected to reach Rs 21,000 cr in next 5 years.
“Current IT spends by airports is 1.14% of the overall revenues, but proposed investments of Rs 28,525 cr in the next 4 years will boost the IT expenditure big time in the sector,” the report said.
Similarly, IT expenditure in the segments like warehousing, express and courier services and Radio frequency identification too is set to double over the next five years.
