Global Connected Logistics Market Projected to Surpass $55.1 Billion by 2029 with 14.2% Annual Growth

"What market dynamics are playing a key role in accelerating the growth of the connected logistics market?
The connected logistics market is anticipated to grow due to the rising prevalence of IoT connected devices. The term 'Internet of Things' is defined as an interconnected network of devices capable of communication and data exchange through the internet. Its growth is a direct result of increasing demand for interconnectivity, efficiency, and automation across myriad industries and everyday activities. Devices connected through IoT in logistics allow for real-time tracking of shipments, improved route planning, vehicle condition monitoring, enhanced inventory administration, and supply chain operations optimization leading to heightened efficiency, cost reduction, and better customer satisfaction. For example, a November 2022 report from Ericsson, a telecommunications firm based in Sweden, forecasted that by 2023, global IoT connections would reach 15.7 billion and nearly double to 38.9 billion by 2029, indicating a growth rate of 16%. Hence, the connected logistics market's expansion is fueled by the growing ubiquity of IoT connected devices.

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How will the growth rate of the connected logistics market shape industry trends by 2034?
The market size of connected logistics has seen substantial growth in recent times. It's projected to rise from $28.33 billion in 2024 to $32.45 billion in 2025, boasting a compound annual growth rate (CAGR) of 14.5%. The significant development during the past can be credited to globalization, the advent of IoT, the need for real-time visibility, the progress in cloud computing, and the incorporation of big data analytics.

The market size of connected logistics is anticipated to experience swift expansion in the coming years. By 2029, it's expected to reach $55.1 billion, with a compound annual growth rate (CAGR) of 14.2%. Factors contributing to the growth predicted for this period include acceptance of blockchain technology, advancements in autonomous vehicles, heightened emphasis on sustainability, increased predictive analytics, and the development of smart cities. Key trends for the forecast period cover improved cybersecurity, advancement of edge computing, greater utilization of robotics and automation, broadening of 5G networks, and the emergence of digital twins.

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What are the most significant trends transforming the connected logistics market today?
Leaders in the connected logistics market, such as major corporations, are concentrating on creating sophisticated solutions, such as cloud-based services, to improve the efficiency of worldwide supply chains. These solutions play a pivotal role in connected logistics by offering scalable, accessible, and centralized data storage, processing, and analysis platforms, enabling real-time collaborations and better decision-making across the supply chain. For example, in December 2023, Fujitsu Limited, a Japanese information and communications tech services company, debuted a service for standardizing and visualizing logistics data via cloud technology. This service, designed for logistics firms, shippers, and supply chain vendors, offers innovative tools to advocate for sustainability and address issues such as carbon emissions reduction, driver shortages, and adherence to industry regulations. It provides automated data transformations to abide by logistics information standard guidelines and functions for connecting, transforming, and storing various logistics data. Also, it provides analysis and visualization tools via logistics KPIs. The newly launched service is designed to encourage collaboration between companies, streamline the supply chain, and provide solutions to issues such as energy consumption reduction and driver shortages through a shared vehicle use approach.

Which primary segments of the connected logistics market are driving growth and industry transformations?
The connected logistics market covered in this report is segmented -

1) By Component: Hardware, Solutions, Services
2) By Transportation: Roadways, Railways, Airways, Maritime
3) By Application: Inventory Tracking, Optimized Warehousing, Real-Time Fleet Management, Predictive Maintenance, Cargo Integrity Monitoring, End-To-End Delivery Tracking, Other Applications
4) By End-Use Industries: Automotive, Healthcare And Pharmaceuticals, Oil And Gas, Food And Beverage, Aerospace And Defense, Manufacturing, Information Technology (IT) And Telecommunication, Retail And E-Commerce, Other End-Use Industries

Subsegments:
1) By Hardware: Sensors, RFID Tags, GPS Devices, Communication Devices, Others (Drones, Cameras)
2) By Solutions: Fleet Management Software, Warehouse Management Systems (WMS), Supply Chain Visibility Platforms, Route Optimization Software, Inventory Management Solutions, Predictive Maintenance Solutions, Others
3) By Services: Integration Services, Consulting Services, Managed Services, Maintenance And Support Services, Data Analytics Services, Training And Support Services

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Which geographical regions are pioneering growth in the connected logistics market?
North America was the largest region in the connected logistics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the connected logistics market landscape?
Major companies operating in the connected logistics market are Microsoft Corporation, AT&T Inc., DHL International GmbH, Robert Bosch GmbH, FedEx Corporation, Huawei Technologies, Amazon Web Services, Siemens, Intel Corporation, Accentu*re, International Business Machines Corporation, Cisco System Inc., Oracle Corporation, Honeywell International Inc., SAP SE, TATA Consulting Services Ltd., NEC Corporation, Nippon Express Co. Ltd., Infosys Limited, HCL Technology Limited, Xpo Logistics Inc., Hexagon AB, Senko Group Holdings Co., Ltd., Yusen Logistics Co. Ltd., Trimble, Orbcomm, Eurotech Group, Freightgate Inc.

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What Is Covered In The Connected Logistics Global Market Report?

• Market Size Forecast: Examine the connected logistics market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the connected logistics market for a structured understanding.
• Key Players Overview: Analyze major players in the connected logistics market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the connected logistics market.
• Segment Contributions: Evaluate how different segments drive overall growth in the connected logistics market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the connected logistics market.
• Industry Challenges: Identify potential risks and obstacles affecting the connected logistics market.
• Competitive Landscape: Review strategic developments in the connected logistics market, including expansions, agreements, and new product launches.

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