The rising cost of storing, handling and finance for inventory has led to uneven supply chains and inconsistent product availability for consumers. Business inventories have dropped to near historic lows, and the costs associated with these items have risen considerably. Inventory-carrying costs rose by 25.9% in 2021, and transportation costs jumped 21.7%, leading to difficulties for consumers trying to access products. Within the transportation sector, air cargo faced shortages and record-high spot rates in 2021, as global travel bounced back sharply from the 2020 pandemic shutdowns. In response to these trends, companies have been increasingly turning to digital platforms and automation to manage their logistics needs. This is evident in the rise of warehouse robotics spending, which is expected to hit $27 billion by 2025. Automation can help reduce costs and improve efficiency in the supply chain while also providing greater visibility into inventory levels.

Trucking freight is continuing to see more volume and opportunities. Road freight, which accounts for the largest segment of the U.S. supply chain spend, grew by 23.4% last year, reaching a total spend of $831 billion. Capacity utilization is at historic highs, and equipment is becoming scarce, particularly for dry van and reefer.