Overview and Scope
Connected logistics refers to the integration of various technologies such as IoT sensors, data analytics, and cloud computing to optimize and streamline the processes involved in the transportation, storage, and distribution of goods. It enables real-time tracking, predictive maintenance, and efficient resource management throughout the supply chain network.
Sizing and Forecast
The connected logistics market size has grown rapidly in recent years. It will grow from $24.84 billion in 2023 to $28.33 billion in 2024 at a compound annual growth rate (CAGR) of 14%. The growth in the historic period can be attributed to globalization, the emergence of IoT, demand for real-time visibility, advancements in cloud computing, and integration of big data analytics.
The connected logistics market size is expected to see rapid growth in the next few years. It will grow to $48.31 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to the adoption of blockchain technology, the proliferation of autonomous vehicles, the increasing focus on sustainability, the rise of predictive analytics, and the expansion of smart cities. Major trends in the forecast period include enhanced cybersecurity measures, growth of edge computing, increased use of robotics and automation, expansion of 5G networks, and rise of digital twins.
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Segmentation & Regional Insights
The connected logistics market covered in this report is segmented –
1) By Component: Hardware, Solutions, Services
2) By Transportation: Roadways, Railways, Airways, Maritime
3) By Application: Inventory Tracking, Optimized Warehousing, Real-Time Fleet Management, Predictive Maintenance, Cargo Integrity Monitoring, End-To-End Delivery Tracking, Other Applications
4) By End-Use Industries: Automotive, Healthcare And Pharmaceuticals, Oil And Gas, Food And Beverage, Aerospace And Defense, Manufacturing, Information Technology (IT) And Telecommunication, Retail And E-Commerce, Other End-Use Industries
Top 5 Major Players:
- Microsoft Corporation
- AT&T Inc
- DHL International GmbH
- Robert Bosch GmbH
- FedEx Corporation
North America was the largest region in the connected logistics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing exposure of IoT connecting devices is expected to propel the connected logistics market going forward. Internet of Things (IoT) refers to the network of interconnected devices that can communicate and exchange data over the Internet. It is driven by the growing demand for interconnectedness, efficiency, and automation across various industries and daily activities. IoT connecting logistics devices enable real-time shipment tracking, optimize route planning, monitor vehicle conditions, enhance inventory management, and streamline supply chain operations, leading to increased efficiency, reduced costs, and improved customer satisfaction. For instance, in November 2022, according to a report published by Ericsson, a Sweden-based telecommunications company, IoT connections worldwide were projected to amount to 15.7 billion connections in 2023. Moreover, the number is projected to reach nearly 38.9 billion in 2029 at a growth rate of 16%. Therefore, the increasing exposure of IoT connecting devices is driving the growth of the connected logistics market.
Key Industry Players
Major companies operating in the connected logistics market are Microsoft Corporation, AT&T Inc, DHL International GmbH, Robert Bosch GmbH, FedEx Corporation, Huawei Technologies, Amazon Web Services, Siemens, Intel Corporation, Accenture, International Business Machines Corporation, Cisco System Inc., Oracle Corporation, Honeywell International Inc., SAP SE, TATA Consulting Services Ltd, NEC Corporation, Nippon Express Co. Ltd., Infosys Limited, HCL Technology Limited, Xpo Logistics Inc., Hexagon AB, Senko Group Holdings Co., Ltd, Yusen Logistics Co. Ltd., Trimble, Orbcomm, Eurotech Group, Freightgate Inc.
The connected logistics market report table of contents includes:
1. Executive Summary
2. Connected Logistics Market Characteristics
3. Connected Logistics Market Trends And Strategies
4. Connected Logistics Market – Macro Economic Scenario
5. Global Connected Logistics Market Size and Growth
….
32. Global Connected Logistics Market Competitive Benchmarking
33. Global Connected Logistics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Connected Logistics Market
35. Connected Logistics Market Future Outlook and Potential Analysis
36. Appendix
List of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Connected Logistics Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Connected Logistics Market, Segmentation By Transportation, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Connected Logistics Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 75: Microsoft Corporation Financial Performance
Table 76: AT&T Inc Financial Performance
Table 77: DHL International GmbH Financial Performance
Table 78: Robert Bosch GmbH Financial Performance
Table 79: FedEx Corporation Financial Performance
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