PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1238841
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1238841
Connected Logistics Market size was valued at USD 28,709.1 Million in 2022, expanding at a CAGR of 15.3% from 2023 to 2030.
Connected logistics are used in a variety of scientific fields, including molecular biology, drug discovery, clinical diagnostics, and genomics. They are designed to improve the accuracy and reproducibility of experiments, reduce the risk of contamination, and increase the throughput of samples.
Growing consumer preference for online purchasing and advancing technology are two reasons driving the market's expansion. The demand for these solutions is being driven by the expanding availability of integrated logistics systems with strong interoperability, security, and accessibility characteristics. E-commerce has presented logistics companies with additional difficulties, such as the desire for quicker delivery times and more flexibility. By offering real-time tracking, predictive analytics, and other tools to enhance delivery and transportation, connected logistics solutions can assist businesses in overcoming these obstacles. As the Internet of Things (IoT) has expanded, sensors and other linked devices can now be used to collect data and automate logistics procedures. This covers anything from automating warehouse operations to tracking the temperature and humidity of products in transit operations.
Furthermore, there is an increasing requirement for real-time visibility and transparency into the movement of products as supply chains become more complicated and worldwide. This visibility is provided by connected logistics solutions, which enable businesses to track shipments, keep an eye on inventory levels, and manage transportation in real time. Companies are using automation to increase efficiency and save costs due to increased labor expenses and a lack of skilled workers. By automating everything from warehouse operations to transportation planning, connected logistics solutions enable businesses to optimize their logistical processes and rely less on manual labor.
The Global Connected Logistics Market is segmented on the basis of Component, Transportation, End User, and Region.
The market is divided into three categories based on Components: hardware, software, and software. The hardware segment dominates the market. The increasing demand IoT enabled devices, and sensors are mainly contributing to segment growth.
The market is divided into four categories based on Transportation: roadways, railways, airways, and waterways. The roadways segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the demand for road-based transportation from retail logistics.
The market is divided into seven categories based on End users: retail, automotive, aerospace, healthcare, energy, electronics, and others. The retail segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to the increasing demand for connected logistics in the retail industry for quick delivery services.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America held the largest market share in 2021 and is projected to continue its dominance during the forecast period. The rising demand for connected logistics from the automotive and retail sectors is contributing to market growth.
Due to the constant development in the connected logistics market in the coming years, the worldwide market for connected logistics is made of both international and local producers, making it one of the most competitive sectors in the world. Companies sell their Components through a variety of channels, including corporate websites, e-commerce websites, retailers, distributors, and end consumers. Component makers compete on a variety of aspects, including Component costs, performance, Component making, end user, reputation, and availability. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new component launches, distribution network development, R&D spending, and mergers and acquisitions. For instance, in 2022, Oracle and RHI Magnesita announced a deal to use Oracle's fusion cloud management software solution.
This proposed research study on Connected Logistics market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Connected Logistics market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Connected Logistics market
Impact of COVID-19 on Connected Logistics market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Connected Logistics market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Connected Logistics market, we have also included competitive landscape and key innovator analysis for the Connected Logistics market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Connected Logistics market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Connected Logistics market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows: