Pune, India, February,2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Connected Logistics Market.
Connected Logistics Market – Overview
The sophistication in the logistic chain has increased recently due to increasing consumerism globally. Market reports linked to the information and communication technology industry have been offered by Market Research Future which makes reports on other industry verticals that aims to study the current market scenarios better. The market is expected to achieve a CAGR of 18.33% while earning revenues worth USD 71.1 billion in the period of the forecast.
The communication in the logistic chains these days has to be flawless to ensure efficient deliveries to end users; this is where the use of connected logistics becomes important. The requirements for new alternatives in connected logistics are expected to create new areas for growth of the market in the forecast period. Moreover, the exceptional management offered by connected logistics in terms of temperature control apart among other aspects is fuelling the growth of the market globally. Also, the increased distribution of sensitive goods like pharmaceutical products is anticipated to create further impetus for the connected logistics market in the forecast period.
The connected logistics market is carried out on the basis of platform, software, transportation mode, vertical and region. On the basis of software, the connected logistics market is segmented into warehouse management system, asset management, security, network management, data management, and streaming analytics. The segmentation of the connected logistics market on the basis of platform consists of device management, application management, and connectivity management. Based on transportation mode, the connected logistics market is segmented into airways, railways, roadways, and waterways. On the basis of vertical, the connected logistics market is segmented into manufacturing, retail, oil and gas, IT & Telecom, automotive, healthcare, food and beverage, and others. The regions included in the market for connected logistics are Asia Pacific, North America, Europe, and Rest of the World.
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The assessment of the regions in the connected logistics market covers regions such as Asia Pacific, North America, Europe, and Rest of the World. North America is anticipated to be the key shareholder in the forecast period owing to the well-known logistics industry and technological alterations in the region. Improvements in technology are also projected to develop the use of connected logistics. These factors are also anticipated to compel the connected logistics market’s development across the region in the imminent years. The Asia Pacific region is projected to display enormous growth opportunities, significantly, in China and India. Due to the mounting population and producers in this region, the contenders are using original systems in their operations for managing complex logistics works more competently with the aid of tools, which are intended to decode the collected data.
The competitive outlook for the market is expected to diversify significantly in the coming period. The developments in the market are expected to be fuelled by the rise in investments and product innovations. The competitors are proactively addressing the challenges to growth and are crafting strategies that can have the best overall effect on the market's progress. The market leaders are taking an interest in the creation of strong value chains that can yield increased profits. The opportunities for growth in the market have ample scope for development in the forecast period. The market challengers find themselves in a promising position with the capacity to handle the pace of change. The perceived tendency for the market’s growth has increased following the availability of positive factors in the market.
The foremost players in the connected logistics market globally are SAP SE (Germany), Eurotech S.P.A (Europe), Intel Corporation (U.S.), ORBCOMM (U.S.), Cisco System Inc. (U.S.), IBM Corp. (U.S.), HCL Technology Limited (India), Freightgate Inc. (U.S.), AT&T Inc. (U.S.), Cloud Logistics (U.S.), Infosys Limited (India), Huawei Technologies (China), Accenture (Republic of Ireland), Amazon Web Services(U.S.), and Siemens (Germany).
Dec 2018 Intel has announced recently the Intel Connected Logistics Platform, which is a lucrative internet of things (IoT) solution allowing users to observe the state and location of assets in any setting throughout the supply chain. With Google Cloud and PA Consulting, Intel CLP can help businesses with close to real-time supply chain visibility, whilst monitoring the integrity, quality, and security of their shipments while on the move.