Revolutionizing Connectivity in Logistics: A Prophesied Surge in the Connected Logistics Market, Projected to Surpass $71.94 billion by 2030

According to Next Move Strategy Consulting, the global connected logistics market size is anticipated to surpass $71.94 billion by 2030 reflecting a CAGR of 14.86% during the forecast period till 2030. This surge is driven by a confluence of factors reshaping the technological landscape and the way individuals interact with digital platforms.

Market Overview:

Connected Logistics is emerging as a transformative force, reshaping the landscape of supply chain and logistics management. This surge is fueled by the urgent need for efficiency, transparency, and real-time data insights in the logistics sector. As businesses worldwide strive for agility and optimization, Connected Logistics stands at the forefront, offering innovative solutions that promise to revolutionize the traditional logistics paradigm.

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Key Market Drivers:

1. IoT Integration in Logistics: The integration of Internet of Things (IoT) technologies in logistics operations is a pivotal driver for the Connected Logistics Market. Real-time tracking, monitoring, and data analytics enable businesses to optimize routes, reduce lead times, and enhance overall supply chain visibility.
2. Automation and Robotics: The adoption of automation and robotics in logistics processes is catalyzing the market's growth. From autonomous vehicles to smart warehouses, connected technologies are streamlining operations, reducing costs, and improving the overall efficiency of logistics networks.
3. Demand for Enhanced Customer Experience: The modern consumer demands a seamless and transparent purchasing experience. Connected Logistics, with its ability to provide real-time tracking information, delivery notifications, and accurate ETAs, contributes significantly to an enhanced customer experience, fostering brand loyalty.
4. Supply Chain Resilience: In a world marked by uncertainties, businesses are increasingly recognizing the importance of resilient supply chains. Connected Logistics plays a crucial role in ensuring supply chain visibility, risk management, and adaptability to dynamic market conditions.
Market Segmentation:

The connected logistics market includes various segments, including:

Type: Based on type, the market is categorised into hardware, software and services.
Technology: Based on technology, the market is segmented into Bluetooth, Cellular, Wi-Fi, ZigBee, NFC, and Satellite.
Devices: Based on devices, the market is classified into Gateways, RFID Tags, and Sensor Nodes.
Regional: Based on regional, the market is categorised into North America, Europe, Asia Pacific, and RoW.

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Outlook and Future Prospects:

An increase in the number of high-tech vehicles equipped with GPS systems and telematics devices, allows logistics companies to track shipments, monitor vehicle locations, and obtain accurate delivery status updates. These improve tracking and visibility and enable better supply chain management, optimized route planning, and more precise estimations of delivery times, which is thereby expected to create ample opportunity for the growth of the smart logistics market.

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The initial capital expenditure including hardware & software, and ongoing maintenance costs associated with connected logistics that involve costs related to software updates, hardware repairs or replacements can pose a challenge to widespread adoption, which is expected to restrain the growth of the connected logistics industry.

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Regional Analysis
North America holds the major share of connected logistics market and is expected to continue its dominance during the forecast period. The growing e-commerce sector driven by the surge in online shopping and consumer demand for efficient deliveries are driving the growth of the connected logistics market in this region. According to the U.S. Department of Commerce, the e-commerce industry recorded sales of USD 1,040 billion in 2022. This significant figure underscores the large scale and continuous growth of the e-commerce sector therefore boosting the adoption of smart logistics.

On the other hand, Asia-Pacific is expected to show a steady rise in the smart logistics market owing to the growing e-commerce industry in China, India, and Japan driven by the need for efficient supply chain operations, optimized last-mile delivery, and effective inventory management. According to the International Trade Administration, the significant growth of China's e-commerce market which is projected to reach USD 3.56 trillion by 2024, will have a profound impact on the connected logistics industry.

Competitive Landscape

Maximum growth opportunities make the connected logistics market highly competitive. 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. A number of developmental strategies have been adopted by these companies in the past few years.

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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.