2H 2023 INDUSTRY UPDATE

• Freight demand has weakened as industry faces with multitude of headwinds including dwindling consumer demand, inflationary pressures, excess capacity, and ocean shipping disruptions.

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• Traction for automated Micro Fulfillment Centers is growing beyond online grocery to traditional brick-and-mortar stores due to reduced logistics and labor expenses and faster last-mile delivery to alleviate customer satisfaction.

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• Modern supply-chain security solutions are gaining significant momentum due to data sharing and the interconnectedness of highly automated plug-and-play software supply-chain systems.

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