The global connected logistics market size reached US$ 30.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 74.0 Billion by 2028, exhibiting a growth rate (CAGR) of 16.35% during 2023-2028.
Connected logistics allow organizations to plan orders and shipments in advance and help them prevent delayed deliveries by providing shipment monitoring with real-time tracing and tracking. It also offers geofencing, route optimization, fleet management, vehicle analytics, and security from theft, loss, or damage of shipments. Besides this, it helps forecast for predictable departure and arrival of shipments, improve operational efficiency, and enhance productivity by integrating multiple connected devices on a single interface. As a result, connected logistics find extensive applications in businesses across different industry verticals, such as automotive, healthcare, retail, manufacturing, and food and beverage (F&B).
Connected Logistics Market Trends:
- The thriving information technology (IT) sector represents one of the key factors positively influencing the market. Moreover, conventional logistics cycles do not have transparency and clarity as the logistics workflow relies on historical information for ongoing transportation and delivery processes. As a result, there are differences between the estimates about fuel prices, route choices, and other aspects. However, connected logistics integrates radio frequency identification (RFID) chips and the internet of things (IoT) devices in carriage trucks, shipments, and individual product units. The data generated from these devices enables organizations to know the exact location and condition of the loads. Additionally, they can interpret the transportation and shipping prices in the market before they select their freight forwarders for overseas shipping, which increases the overall visibility and transparency in logistics. Apart from this, factors, including storage space, the correct placement of stock, and the number of laborers required can be predetermined using connected logistics. This, coupled with the rising adoption of cloud-based solutions and the increasing digitalization in businesses across the globe, is stimulating the market growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global connected logistics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, software, technology, devices, transportation mode and end use industry.
Breakup by Component:
Breakup by Software:
- Asset Management
- Warehouse IoT
- Data Management
- Network Management
- Streaming Analytics
Breakup by Technology:
Breakup by Devices:
- RFID Tags
- Sensor Nodes
Breakup by Transportation Mode:
Breakup by End Use Industry:
- Oil and Gas
- IT and Telecom
- IT and Telecommunication
- Food and Beverage
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
- The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Key Questions Answered in This Report:
- 1. What was the size of the global connected logistics market in 2022?
- 2. What is the expected growth rate of the global connected logistics market during 2023-2028?
- 3. What are the key factors driving the global connected logistics market?
- 4. What has been the impact of COVID-19 on the global connected logistics market?
- 5. What is the breakup of the global connected logistics market based on the component?
- 6. What is the breakup of the global connected logistics market based on the software?
- 7. What is the breakup of the global connected logistics market based on technology?
- 8. What is the breakup of the global connected logistics market based on the devices?
- 9. What is the breakup of the global connected logistics market based on the transportation mode?
- 10. What is the breakup of the global connected logistics market based on the end use industry?
- 11. What are the key regions in the global connected logistics market?
- 12. Who are the key players/companies in the global connected logistics market?