Global Connected Logistics Market Industry Trends, Estimation & Forecast, 2018 - 2025

The market for connected logistics is still nascent and can be defined as interconnected devices that logistics and IoT solutions providers use to get more visibility within warehouse, transportation, and associated logistics processes, such as order processing, financial transactions, shipping, and dispatching & picking. It helps drive more effective business decisions by identifying the crucial bottlenecks and hence, facilitates critical decision-making.

The increase in the need for mobility, need to reduce the cost of administrative processes, penetration of IoT & Logistics 4.0, and the increased market for connected devices supplements the market growth. Connected Logistics facilitate logistical businesses with real-time updates, interoperability, and easier access to the required information. It provides an interface to integrate multiple devices, which enables informed decision making. The increased market for intelligent transportation solutions is expected to drive the Connected Logistics market growth.

“Global Connected Logistics market is valued at USD 14.39 billion in 2018 and it is expected to reach more than USD xx billion by 2025, likely to grow at a CAGR of 32.7 % during the forecast period”
 
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The software segment is further divided into asset management solutions, warehouse IoT solutions, security solutions, data management, and network management and streaming analytics. Compared to solutions, the services segment is expected to grow at a higher CAGR during the forecast period.  The services in the market are aimed at enabling smart and coordinated decision-making processes and mitigating the risks and vulnerabilities of the Internet of Things (IoT) in logistics using efficient tools and techniques. Moreover, these services enhance data management techniques and help to meet the end-to-end needs of all the verticals.
The security solution is expected to grow at the highest CAGR during the forecast period, as it is specifically focused on data security, which is the prime need of logistics companies. As IoT solutions offer an extremely connected system, data security solutions make sure all the data is secure. Rising incidents of data theft and data tampering have urged companies to purchase security solutions thereby causing them to grow at a high rate as compared to other solutions.

North America accounted for the largest share of the connected logistics market in 2018 owing to strong economic conditions in the region and enhanced customer experience for the clients. The roadway logistics is of focus area for the logistics vendors followed by railways and waterways.

The Asia Pacific region holds good potential for the vendors and is expected to grow at the highest CAGR during the forecast period. The Asia Pacific region is expected to witness growth in the connected logistics market due to the presence of few emerging countries and organizations in the region are experiencing an increase in customers and focus on organized logistics to reduce cost and time.

The global connected logistics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.

Few of the major competitors currently working in the global connected logistics market are AT&T Intellectual Property, EUROTECH,IBM Corporation, Intel Corporation, SAP SE, Infosys Limited, Cisco, HCL Technologies Limited, ORBCOMM, Cloud Logistics, Freightgate Inc., PTC, SecureRF Corporation., ZIH Corp, Infor, Amazon Web Services Inc., Oracle, BluJay Solutions, Dynatrace LLC., Freightos,  and others.

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