Connected Logistics Market Propels Supply Chain into the Future, Projected to Surpass USD 71.94 billion by 2030

According to the Next Move Strategy Consulting, the Connected Logistics Market is spearheading a transformative evolution in supply chain management, ushering in an era of unprecedented connectivity and efficiency. With projections indicating that the market is poised to exceed USD 71.94 billion by 2030, the logistics landscape is on the brink of a technological revolution.

Market Overview:

In the dynamic realm of supply chain management, the Connected Logistics Market takes center stage, leveraging advanced technologies to create a seamlessly connected and intelligent logistics network. Through the integration of IoT, data analytics, and real-time monitoring, the market is redefining how businesses manage and optimize their supply chains.

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Key Drivers:

E-Commerce Boom Fuels Connected Logistics Growth:
The escalating demand for e-commerce, coupled with the surge in global trade, underscores the vital need for real-time monitoring and visibility in logistics and supply chain operations. To meet this demand, companies are increasingly adopting connected logistics solutions to optimize their supply chains, offering real-time tracking and monitoring of goods in transit. The advantages of such solutions encompass enhanced efficiency, reduced risks of lost or damaged goods, and the capacity to meet customer expectations for faster and more reliable deliveries. Consequently, the connected logistics market is poised for significant growth as businesses embrace these solutions to navigate the evolving landscape of modern trade and consumer expectations.

Integration of Internet of Things (IoT) Fuelling the Market Growth:

The integration of the Internet of Things (IoT), cloud computing, and big data analytics has revolutionized the smart logistics industry. This synergy enables the collection, processing, and analysis of extensive data from logistical operations. The outcome is the development of connected logistics solutions that furnish actionable insights, significantly enhancing operational efficiency. Through real-time data monitoring and analysis, these technologies empower businesses with the tools needed to make informed decisions, optimize supply chain processes, and respond dynamically to changing logistical scenarios. The result is a smarter and more agile logistics ecosystem capable of meeting the evolving demands of modern industries.

Technological Advancements Fuelling market Growth:

The growth of the market is propelled by transformative technological advancements. Innovations like the Internet of Things (IoT), cloud computing, artificial intelligence (AI), machine learning (ML), and blockchain play pivotal roles by enabling real-time tracking of logistics operations. These technologies enhance efficiency, transparency, and decision-making in the supply chain. IoT facilitates interconnected devices for seamless communication, cloud computing provides scalable and accessible data storage, AI and ML optimize processes, and blockchain ensures secure and transparent transactions. This collective impact of cutting-edge technologies fosters a dynamic and responsive logistics ecosystem, driving the industry's growth through heightened connectivity and data-driven insights.

Restraints:

The adoption of connected logistics faces challenges due to significant initial capital expenditure and ongoing maintenance costs. This encompasses both hardware and software investments. Additionally, there are continual expenses related to software updates and potential hardware repairs or replacements. These financial considerations pose a challenge to the widespread adoption of connected logistics. While the benefits of enhanced efficiency and streamlined operations are evident, the associated costs can be a hurdle for businesses looking to integrate these technologies. Balancing the advantages against the financial investments becomes a crucial factor influencing the pace of adoption in the connected logistics industry.

Future Outlook:

The surge in high-tech vehicles equipped with GPS systems and telematics devices is a driving force behind the growth of the smart logistics market. This technological leap allows logistics companies to track shipments, monitor vehicle locations, and receive accurate delivery status updates. The improved tracking and visibility facilitate enhanced supply chain management, optimized route planning, and more precise estimations of delivery times. As a result, ample opportunities are created for the growth of the smart logistics market, as these advancements streamline operations, boost efficiency, and meet the increasing demands for transparent and optimized logistics solutions.
Market Segmentation:

The connected logistics market share is segmented based on components, technology, devices, transportation modes, and geography. Based on components, the market is divided into hardware, software, and services. Software is further sub-segmented based on asset management, warehouse IoT, security network management, and streaming analytics. Based on technology, the market is segmented into Bluetooth, cellular, Wi-Fi, Zigbee, NFC, and satellite. Based on devices, the market is classified into gateways, RFID tags, and sensor nodes. Based on transportation mode, the market is segmented into roadways, railways, airways, and waterways. Geographic fragmentation and analysis of each segment includes regions comprising North America, Europe, Asia Pacific, and RoW.

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Regional Dominance:

North America continues to lead the connected logistics market, maintaining its major share and projected dominance. The flourishing e-commerce sector, fueled by a surge in online shopping and heightened consumer demand for efficient deliveries, propels this growth. The U.S. Department of Commerce reported a staggering USD 1,040 billion in e-commerce sales in 2022, underlining the substantial impact.

In parallel, Asia-Pacific anticipates a consistent ascent in the smart logistics market, particularly in China, India, and Japan. The region responds to the growing e-commerce industry's demands for streamlined supply chain operations, optimized last-mile delivery, and efficient inventory management. With China's e-commerce market projected to reach USD 3.56 trillion by 2024, as per the International Trade Administration, the connected logistics industry in Asia-Pacific is poised for notable expansion.

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Competitive Landscape:

Some of the major players in the market are SAP SE, Thingworx, AT&T Inc., SecureRF, Cisco Systems Inc., Zebra Technologies, IBM Corporation, GT Nexus, Eurotech S.P.A., Oracle Corporation, Intel Corporation, Infosys Limited, HCL Technologies Limited, Orbcomm Inc, and Freightgate Inc.

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Contact Us:

Next Move Strategy Consulting
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E-Mail: info@nextmsc.com
Direct: +1-217-650-7991
Website: www.nextmsc.com

About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider committed to delivering high-quality market research reports. We assist multinational companies in gaining a competitive edge and expanding their industry presence by capturing a larger market share. Our research methodology combines primary research, secondary research, data mining, and data analytics to deliver reliable insights.

Over a decade, we have served over 1,000 global customers, including 90% of Fortune 500 companies. Our analysts constantly monitor high-growth markets and uncover hidden opportunities in various sectors. We offer top-quality syndicate and custom research reports across ten different industry verticals, catering to your unique business needs. Our industry-standard delivery solutions, from pre-consultation to after-sales services, ensure an exceptional client experience and support informed strategic decision-making.

This release was published on openPR.