Connected Logistics Market Size, Industry Analysis Report By Component (Hardware, Solutions), By Software (Asset management, Warehouse IoT, Security, Data management, Network management, Streaming analytics), By Technology (Bluetooth, Cellular, Wi-fi, ZigBee, NFC, Satellite), By Devices (gateways, RFID Tags, Sensor Nodes), By Transportation Mode (Roadways, Railways, Airways, Seaways), By end-user (Automotive, Manufacturing, Oil and Gas, IT and Telecom, Healthcare IT and Telecommunication, Retail, Food and beverages) & Region – Forecast
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 289
- CATEGORY
- Automotive & Transportation
The Connected Logistics Market is valued at around USD 30.1 Billion in 2022 and is expected to reach USD 74.0 billion by 2030, registering a CAGR of 16.35% over the forecast period. 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.
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.
The Connected Logistics Market – Market Trends
• One of the major elements favourably affecting the market is the booming information technology (IT) sector.
• Furthermore, because the logistics workflow depends on previous data for ongoing transit and delivery procedures, typical logistics cycles lack transparency and clarity. As a result, there are discrepancies in the predictions of gasoline costs, route options, and other factors.
• The internet of things (IoT) and radio frequency identification (RFID) chips are integrated into carriage trucks, shipments, and individual product units in connected logistics. Organizations are able to determine the precise location and state of the loads because to the data these devices produce.
• Before choosing their freight forwarders for international shipping, customers may also analyse market transportation and shipping pricing, which improves logistics' total visibility and transparency.
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.
Report scope
Global Connected Logistics Market: Historical Years- 2018-2021
Global Connected Logistics Market: Forecast Years- 2022-2030
Global Connected Logistics Market 2022- USD 30.1 Billion
Global Connected Logistics Market 2030- USD 74.0 billion
Global Connected Logistics Market CAGR- 16.35%
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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