Connected Logistics Market Overview
Global connected logistics market is expected to grow at a CAGR of approximately 18.33% during the forecast period 2022-2030.Connected logistics is a method used worldwide to access real-time data and manage the logistics operations that are otherwise very complex to handle in the most effective way possible.
It has various alternative ways to administer the division of logistics. It provides relevant information and helps transfer the data to an internal and even external database. The sensors on the vehicles carry out this activity. Presenting news and analyzing the status of the road in the context of the physical condition and traffic is also carried out by it.
Connected logistics was also developed initially as a part of helping in the transportation of sensitive goods like pharma products. It involves many applications which can be performed under the supervision of such products. They require an optimum temperature, and great care needs to be taken about their physical condition during transportation. The application enables the companies to perform excellent management tasks, reduce the delivery time, and maintain standards.
The recent pandemic that has hit the entire world has indeed come with a lesson to be prepared for everything that time brings on the way. Not only at the individual level, but the amount of stress, financial loss, and the physical trauma each one has been going through is indeed a matter of concern; every business has suffered in one or another way. If not financially, physically, and mentally for sure. But, it's the time to act and not sit back and crib about this all.
The government is taking various necessary steps to revive this market. The reports provide the current market scenarios and the qualitative and quantitative measurements of the Connected Logistics Market.
Connected logistics Market
The global connected logistics market is expecting to witness growth which will be considerably high. The projected CAGR of the market during the upcoming Connected Logistics industry Forecast period is 22%. Also, the market is expected to grow to a market value of 41.30 million in 2021 as opposed to 10.04 million in the year 2016.
Major drivers in the market include the decrease in the cost of the sensors and increased demand for operational efficiency and quality. Moreover, with the introduction of IoT connecting devices, the Connected Logistics Market Trends has also seen a steep rise. Also, an increase in the number of high technology vehicles and increased innovation in the mobile sector has bought the development in the market to a great extent.
The primary factor that has resulted in the hampered growth of the market is the lack of balanced standards in the Connected Logistics Market Growth.
Regulatory implications do not directly affect the connected logistics industry but have been indirectly related to it. Rules have always stayed in favor of the companies dealing in the related logistics market because of the immense support from the regulatory bodies and government authorities across various regions worldwide. The permission from the authorities comes to ensure that all the businesses that have been related to the logistics business get a similar type of growth and increased sales due to efficient working of the connected logistics market.
The Connected Logistics Market is divided into the following segments:
- Based on the Software
- Based on the Platform
- Based on the mode of transportation
- Based on the industry vertical
Based on the software
Based on the software, the market is further divided into the following subtypes:
- Asset management
- Warehouse management system
- Data management
- Network management
- Streaming analytics
Based on the platform
Based on the platform, the market is further segmented into the following:
- Application management
- Device management
- Connectivity management
Based on the mode of transport
Based on the mode of transport, the market is subdivided into the following:
Based on industry vertical
Based on the industry vertical, the market is further divided into the following:
- Oil and gas
- IT & Telecom
- Food and beverage
Based on the regions, the market is segmented into the following:
- North America
- Asia pacific
- Rest of the world.
The region that dominates the Connected Logistics Market Size and holds the largest share in North America. The growth and dominance of the area in the market are attributed to the advanced innovations in logistics.
The Asia Pacific is expected to grow at the fastest pace. Countries like China and India are expected to share the highest percentage in the Connected Logistics industry Share due to the growing opportunities in the regions. Also, the increase in the population and the number of manufacturers in the countries have affected the Connected Logistics Market Growth to a great extent. The fact that logistics works better with the help of advanced tools, the region has been leading in introducing these in the market, thereby bringing significant growth in the Connected Logistics Market Opportunities.
Europe is also expecting to witness considerable growth in the Connected Logistics Market Share due to the increase in technological advancements. The rest of the parts of the world might as well notice the change but at a slower pace than others.
Connected Logistics Market Key Players are as follows
- AT&T Inc. (U.S.)
- Siemens (Germany), SAP SE (Germany)
- Accenture (Republic of Ireland)
- Eurotech S.P.A (Europe)
- Huawei Technologies (China)
- ORBCOMM (U.S.)
- Amazon Web Services (U.S.)
- IBM Corp. (U.S.)
- Infosys Limited (India)
- Cisco System Inc. (U.S.)
- Cloud Logistics (U.S.)
- Intel Corporation (U.S.)
- Freightgate Inc. (U.S.)
- HCL Technology Limited (India)
All these Connected Logistics Industry Key Players have been working hard to bring growth to the Connected Logistics Market Size. Collaborations, acquisitions, and mergers have successfully increased the overall revenue of the need to a large extent. The plans and strategies they have been implementing are organized and tend to bring out the best in each one of them.
- To acquire Kuebix, an agreement was signed by Trimble in January 2020 to ensure that the company can serve its commercial carrier customers and also strengthen its network in the private fleet. This has indeed widened the horizons of the company to a great extent.
- Intel connected the logistics platform by Intel in December 2018, a cost-effective IoT solution, and enabled the users to monitor the location and the condition in the supply chain.
- Honeywell and Intel partnered with each other in January 2017 to develop an IoT-based retail industry solution. The collaboration was aimed mainly to increase the supply chain and also increase the profitability margins. The product has an in-built monitoring and tracking system to achieve an even more accurate and better customer experience.
- The focus is on bringing the technologically advanced and intelligent systems in the Connected Logistics Market Opportunities to help them get growth in productivity and help bring down the cost involved.
- Making things more straightforward with the help of assisted devices had been a significant point of focus for all the major players in the connected logistics industry.
The report prepared exclusively for the companies dealing in the connected logistic market has every tiny detail that an organization would need for the smooth and efficient running of the business. The survey conducted in the pre and post covid time has been made a part of the beautiful report from the market overview to the Connected Logistics Market Analysis. It also has market dynamics explained properly, including the growth, driving factors, and market restraints. The market segmentation has also been discussed in detail, including the segmentation based on the regions. The major players of the market and the strategies they have been implementing have also been added to the report. The latest advancements that have also been included in the report helps the companies to stay up to date with the innovations in the market
| Market Size
| 71.1 billion by 2030
| 18.33% CAGR from 2022-2030
| Base Year
| Forecast Period
| Historical Data
| Forecast Units
| Value (USD Million)
| Report Coverage
| Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
| Segments Covered
| By Software, By Platform, By Transportation Mode
| Geographies Covered
| North America, Europe, Asia-Pacific, and Rest of the World (RoW)
| Key Vendors
| AT&T Inc. (U.S.), SAP SE (Germany), Eurotech S.P.A (Europe), ORBCOMM (U.S.), IBM Corp. (U.S.), Cisco System Inc. (U.S.), Intel Corporation (U.S.), HCL Technology Limited (India), Freightgate Inc. (U.S.), Cloud Logistics (U.S.), Infosys Limited (India), Amazon Web Services(U.S.), Huawei Technologies (China), Accenture (Republic of Ireland), and Siemens (Germany).
| Key Market Opportunities
Asia Pacific is expected to show the immense growth opportunities, prominently, in China and India.
Owing to rising population and manufacturers in this region are using innovative systems in their operations for handling complex logistics works more efficiently with the help of tools, which are designed to collect and decode data.
| Key Market Drivers
| Innovation in the technology is also expected to enhance the application of connected logistics. These factors are foreseen to drive the connected logistics market growth across the region in the upcoming years.
Connected Logistics Market Highlights:
Frequently Asked Questions (FAQ) :
North America will be the major shareholder in the forecast period.
The market will be gaining CAGR of approximately 18.33% during the forecast period.
The market will be expanding during the years of 2022-2030.
AT&T Inc. (U.S.), SAP SE (Germany), Eurotech S.P.A (Europe), ORBCOMM (U.S.), IBM Corp. (U.S.), Cisco System Inc. (U.S.) are the major players being actively participating in the market share.
Asia Pacific region has chances to show the immense growth opportunities in the future for the market share.
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