Global Connected Logistic Market was valued US$ 13 Bn in 2017, and is expected to reach US$ 58 Bn by 2026, at a CAGR of 20.56 % during forecast period.
Connected Logistics are providing several benefits to logistics businesses offering services for different industry verticals by providing real-time access, improved operational effectiveness, and improved productivity by integration of multiple connected platforms. Connected Logistics service providers are introducing innovative products and solutions to provide ease of access and high level of interoperability to reach high productivity and informed decision making with collective efforts. Also, there are different communication technologies that assist improved logistical support, these include Bluetooth, ZigBee, Wi-Fi, and others. NFC segment is expected to witness the highest growth rate during the forecast period.
Global Connected Logistics market is influenced by various factors which include increasing penetration of IoT & logistics 4.0, increased application areas, increased market for cloud solutions and production of connected devices, growth related with end-use industries, demand from developing economies, and others.
All these factors together provide opportunities for Connected Logistics market growth.
Increasing need for mobility, need to decrease cost of administrative processes, and the increased market for connected devices enhancing the market growth. Connected Logistics enable logistical businesses with real-time updates, interoperability, and easier access to essential information. It provides interface to integrate multiple devices that are enabling informed decision making. Increased market for intelligent transportation solutions is expected to drive the Connected Logistics market growth during forecast period.
Increasing disposable income combined with growing smartphone penetration in developing countries will boost the e-commerce industry, which in turn will drive the demand for connected logistics solutions. Positive government policies are encouraging the set of SMEs across the supply chain. As the supply chain becomes more and more difficult, demand for these solutions will increase on account of confirming the effectiveness of supply chain and effective monitoring of inventory. It will be improving the company productivity and will also enlarge the demand for connected logistics solutions.
Additionally, supply chain monitoring system is helping an associations to minimize any inefficiencies along the supply chain which could affect the company’s productivity, and further boosting the demand for connected logistics solutions. Demand for IT security is expected to grow at an extensive rate on account of growing research and development expenses by vendors and increasing expenditure by consumers to boost the security of their goods at different stages of the supply chain.
Global connected logistics market looks fragmented because of the existence of various small and large players operating in the market. Leading players in the market are focusing on applying various business development strategies like mergers and acquisitions, partnership, collaborations, and introduction of new products that will help the players to maintain a competitive edge in the market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology.
The report also helps in understanding connected logistics market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in connected logistics market.
Scope of Global Connected Logistics Market:
Global Connected Logistics Market by Technology:
Global Connected Logistics Market by Devices:
• RFID Tags
• Sensor Nodes
Global Connected Logistics Market by Services:
• Asset Management
• Remote Asset Tracking
• Network Management
• Data Management
Global Connected Logistics Market by Platform:
• Connectivity management
• Device management
• Application management
Global Connected Logistics Market by Transportation:
Global Connected Logistics Market by End Use:
• BFSI (Banking Financial Services and Insurance)
• Retail and consumer packaged goods
• telecom, media, and entertainment
• Travel & Hospitality
• Energy, resources, and utilities.
Global Connected Logistics Market Geography:
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operated in Market Include:
• AT&T Inc
• Infosys Limited
• Cisco System Inc
• IBM Corporation
• Intel Corporation
• Cloud Logistics
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