Connected Logistics Market
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.
By the integration of numerous linked platforms, connected logistics offers a number of advantages to logistics companies that provide services for different industry verticals, including real-time access, improved operational efficiency, and increased production. In order to facilitate easy access and high levels of interoperability for high productivity and well-informed decision making through group efforts, connected logistics service providers have launched novel products and solutions.
According to the figures, businesses throughout the globe are increasingly using the internet of things (IoT), particularly those in the logistics and transportation sectors. These businesses have an increasing need to make their current business procedures more transparent so that their customers can reduce the waste produced during the shipping of goods. Businesses in the transportation and logistics sector can drastically lower their overall operational costs, increase process efficiency, and enhance customer experiences by implementing IoT technology and other relevant sensor-based technologies. Thus, it is projected that these factors will increase the use of connected logistics and, as a result, spur market expansion.
By integrating numerous linked platforms, connected logistics are able to offer real-time access, enhanced operational effectiveness, and improved productivity to logistics companies that provide services for various industry verticals. Innovative products and solutions are being introduced by connected logistics service providers to facilitate easy access and high levels of interoperability for achieving high productivity and well-informed decision making through group efforts. Also, various communication technologies, such as Bluetooth, ZigBee, Wi-Fi, and others, help to increase logistical assistance. The NFC category is anticipated to develop at the fastest rate during the forecasted period.
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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 –Regional Analysis
North America dominated the global Connected Logistics Market, is expected to increase market demand over the projection period. Some of the factors that contribute to the growth of the market in North America include the use of cutting-edge technologies like machine learning, the Internet of Things, cloud computing, big data, analytics, and deep learning. The US continues to hold the largest market share in North America as a result of the existence of notable players.
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
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