Connected Logistics Market Is Expected To Expand At A Compound Annual Growth Rate (CAGR) Of 14.5% From 2023 To 2030

The global connected logistics market size was valued at USD 29.72 billion in 2022, and is expected to expand at a compound annual growth rate (CAGR) of 14.5% from 2023 to 2030.

Connected logistics provides a number of benefits to logistics organisations that offer services for several industry verticals, including real-time access, enhanced operational efficiency, and increased production, through the integration of numerous linked platforms. Connected logistics service providers have introduced innovative products and solutions that enable simple access and high degrees of interoperability for high productivity and well-informed decision making through collaborative efforts. The data shows that companies all over the world are using the internet of things (IoT) more and more, especially those in the logistics and transportation sectors. To reduce the waste generated during the delivery of goods, these enterprises must increasingly make their current business practises more visible.

Logistics organisations that supply services to several industry verticals can benefit from real-time access, higher operational performance, and increased productivity thanks to connected logistics' integration of numerous interconnected platforms. Connected logistics service providers are introducing cutting-edge goods and solutions to enable simple access and high degrees of interoperability for achieving high efficiency and informed decision making through collaborative efforts. Additionally, a number of communication technologies, including Bluetooth, ZigBee, Wi-Fi, and others, contribute to an increase in logistical support. During the expected term, it is predicted that the NFC category will grow the fastest.

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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.

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The competitive environment of this market is moderately split as a result of the presence of both established and new companies. Additionally, it is anticipated that technical developments in the logistic sectors would speed up the development of new products and the expansion of investment. By creating strategies that will have a significant impact on the market's development, many market participants hope to aggressively address the problems. During the predicted period, the market's growth prospects have lots of potential to expand. The use of tracking and communication devices in linked logistics has increased the efficiency of last-mile deliveries. Connected logistics assists in the efficient management of supply chain security, freight traffic, and fleet routing by lowering the cost of transportation.

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.

Key Benefits for Stakeholders

1. The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global Connected Logistics market.
2. Porter's Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets.
3. Current and future trends adopted by key market players are highlighted to determine overall competitiveness.
4. The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential.

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