The global connected logistics market size was valued at USD 29.72 billion in 2022, and is expected to expand at a compound annual growth rate (CAGR) of 14.5% from 2023 to 2030.
Connected logistics provides a number of benefits to logistics organisations that offer services for several industry verticals, including real-time access, enhanced operational efficiency, and increased production, through the integration of numerous linked platforms. Connected logistics service providers have introduced innovative products and solutions that enable simple access and high degrees of interoperability for high productivity and well-informed decision making through collaborative efforts.
The data shows that companies all over the world are using the internet of things (IoT) more and more, especially those in the logistics and transportation sectors. To reduce the waste generated during the delivery of goods, these enterprises must increasingly make their current business practises more visible. By incorporating IoT technology and other pertinent sensor-based technologies, companies in the transportation and logistics sector can significantly reduce their overall operational costs, improve process efficiency, and improve client experiences. Therefore, it is anticipated that these factors will boost market growth by increasing the adoption of linked logistics.
Logistics organisations that supply services to several industry verticals can benefit from real-time access, higher operational performance, and increased productivity thanks to connected logistics’ integration of numerous interconnected platforms. Connected logistics service providers are introducing cutting-edge goods and solutions to enable simple access and high degrees of interoperability for achieving high efficiency and informed decision making through collaborative efforts. Additionally, a number of communication technologies, including Bluetooth, ZigBee, Wi-Fi, and others, contribute to an increase in logistical support. During the expected term, it is predicted that the NFC category will grow the fastest.
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The Connected Logistics Market – Segmentation
The Connected Logistics Market fragrance concentrates market has been sub-classified into component, software, technology, devices, transportation mode, end-use industry.
On the basis of component, the Connected Logistics Market is bifurcated into:
• Hardware
• Solutions
• others
On the basis of software, the market is segmented into:
• Asset management
• Warehouse IoT
• Security
• Data management
• Network management
• Streaming analytics
• others
on the basis of technology, the market is segmented into:
• Bluetooth
• Cellular
• Wi-fi
• ZigBee
• NFC
• Satellite
• others
On the basis of devices, the market segmented into:
• gateways
• RFID Tags
• Sensor Nodes
• Others
On the basis of transportation mode, the market segmented into:
• Roadways
• Railways
• Airways
• Seaways
• Others
On the basis of end-user industry, the market segmented into:
• Automotive
• Manufacturing
• Oil and Gas
• IT and Telecom
• Healthcare IT and Telecommunication
• Retail
• Food and beverages
• Others
The Connected Logistics Market – Key Market players
Global key players of Connected Logistics Market include AT&T Inc., Cisco Systems Inc., Eurotech S.p.A., HCL Technologies Limited, Honeywell International Inc., Infosys Limited, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE and Zebra Technologies Corporation, and others.
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Due to the existence of both established and emerging businesses, the competitive landscape of this market is moderately split. Additionally, it is projected that technological advancements in the logistic sectors will hasten both product creation and investment growth. Different players in the market intend to actively address the issues by developing plans that will have a broad impact on the market’s development. The market’s growth prospects have plenty of room to grow during the anticipated term. Last-mile delivery has become more effective thanks to connected logistics, which uses tracking and communication devices. By reducing the cost of transportation, connected logistics helps with the effective administration of supply chain security, freight traffic, and fleet routing. Moreover, technology like global positioning system (GPS) and vibration monitoring support performance optimisation and offer position tracking for each fleet vehicle. Planning for risk resilience has been considerably enhanced by connected logistics.
The Connected Logistics Market – Growth Factor
Some of the factors driving the market’s growth include the expanding use of online shopping among consumers and the advancement of technology. The demand for these solutions is being driven by the expanding availability of integrated logistics systems with strong interoperability, security, and accessibility characteristics. The demand for connected logistics goods and solutions is also being driven by the need to lower the cost of shipping and storage services. Intelligent transportation systems are expected to become much more necessary. The target market is expected to benefit financially from improved adoption of logistics 4.0 and continued efforts to enhance autonomous logistics vehicles during the projected period.
Key Benefits for Stakeholders
- The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global Connected Logistics market.
- Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets.
- Current and future trends adopted by key market players are highlighted to determine overall competitiveness.
- The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential.
