PUBLISHER: SkyQuest | PRODUCT CODE: 1345196
PUBLISHER: SkyQuest | PRODUCT CODE: 1345196
Global Connected Logistics Market size was valued at USD 26.29 billion in 2021 and is poised to grow from USD 30.32 billion in 2022 to USD 82.34 billion by 2030, at a CAGR of 15.34% during the forecast period (2023-2030).The Global Connected Logistics Market encompasses the integration of digital technologies and data-driven solutions to enhance the efficiency and visibility of supply chain operations. This involves real-time tracking, remote monitoring, and predictive analytics to optimize transportation, inventory management, and overall logistics processes. The market's growth is driven by the rising demand for seamless supply chain connectivity, improved operational insights, and cost savings. It caters to various industries like manufacturing, retail, and healthcare, fostering streamlined operations and informed decision-making across the supply chain network.
Top-down and bottom-up approaches were used to estimate and validate the size of connected logistics market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Market Segmental Analysis:
Global Connected Logistics Market is segmented on the basis of component, transport mode, vertical outlook and region. By component, the market is segmented into hardware, software, services. By transport mode, market is segmented into roadways, railways, software, services. By vertical outlook, the market is segmented into retail & e-commerce, automotive, aerospace & defense, healthcare, energy, electronics & semiconductors, others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Driver:
Market Growth Propelled by Surge in Real-Time Visibility Demand
The escalating desire for real-time visibility throughout the supply chain serves as a prominent catalyst for the connected logistics market's expansion. Such solutions facilitate the real-time monitoring and tracking of goods, assets, and vehicles, subsequently refining operational efficiency, curtailing delays, optimizing routes, and augmenting overall supply chain transparency.
Advanced tools and technologies embedded within connected logistics solutions further fine-tune and rationalize supply chain functions. Boasting attributes like predictive analytics, automation, and digital documentation, businesses can more effectively oversee inventory, curtail lead times, and mitigate disruptions. The imperative to heighten supply chain efficiency and responsiveness plays a pivotal role in fostering the adoption of connected logistics solutions.
Restraint:
Market Growth due to Standardization and Interoperability Issues
Within the realm of connected logistics, a diverse array of technologies, platforms, and solutions from different providers coexist. The absence of uniform protocols and seamless compatibility among these systems presents obstacles to smooth data sharing and cooperative operations across the supply chain. Compatibility concerns may impede the expansion and efficiency of connected logistics solutions, particularly in settings involving various transportation modes and multiple entities in the logistics chain.
Market Trends:
Connected logistics solutions utilize sophisticated analytical tools to handle and assess vast quantities of data produced throughout the supply chain. By employing predictive analytic algorithms, businesses can forecast patterns in demand, fine-tune inventory quantities, and pinpoint possible disruptions. The synergy of up-to-the-minute data and anticipatory intelligence empowers proactive decision-making, ultimately bolstering the agility of the entire supply chain.