Soaring Demand Set to Propel Connected Logistics Market to $55.1 Billion by 2029

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What Is the Expected CAGR for the Connected Logistics Market Through 2025?
The market size for connected logistics has witnessed swift expansion in the past few years. It is projected to surge from $28.33 billion in 2024 to $32.45 billion in 2025, reflecting a compound annual growth rate (CAGR) of 14.5%. Factors contributing to this trajectory during the historical period include globalization, the advent of IoT, the need for real-time visibility, progress in cloud computing, and the incorporation of big data analytics.

What's the Projected Size of the Global Connected Logistics Market by 2029?
The projected growth for the connected logistics market size is anticipated to accelerate over the next few years, with the market expected to expand to $55.1 billion in 2029, manifesting a compound annual growth rate (CAGR) of 14.2%. This growth in the forecast period is largely due to the adoption of blockchain technology, increased usage of autonomous vehicles, a greater emphasis on sustainability, the emergence of predictive analytics, and the building up of smart cities. Key trends over the forecast period comprise improved cybersecurity efforts, the proliferation of edge computing, enhanced utilization of robotics and automation, the broadening of 5G networks, and the advent of digital twins.

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Top Growth Drivers in the Connected Logistics Industry: What's Accelerating the Market?
The growth of the connected logistics market is projected to be fueled by the increasing integration of Internet of Things (IoT) devices. IoT, a term for the web of interconnected devices able to interact and share information via the Internet, is gaining momentum due to a rising demand for connectivity, effectiveness, and automation in various sectors and routine tasks. Devices using IoT technology for logistic connections allow for real-time shipment monitoring, improved route mapping, vehicle condition tracking, better inventory management, and supply chain operation efficiencies, leading to increased productivity, lowered expenses, and enhanced customer satisfaction. For example, a November 2022 report by Sweden's Ericsson, a telecommunications firm, projected there would be 15.7 billion global IoT connections in 2023 and projected that figure could climb to nearly 38.9 billion by 2029, expanding at a rate of 16%. Consequently, the growing integration of IoT-equipped devices is fueling the expansion of the connected logistics market.

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What Trends Will Shape the Connected Logistics Market Through 2029 and Beyond?
Big firms in the connected logistics market are prioritizing the development of advanced solutions like cloud-based services to bolster global supply chain efficiency. These services are vital in offering scalable, accessible, and central hubs for data storage, processing, and analysis, which aids in real-time decision-making and collaboration across the supply chain. For instance, Fujitsu Limited, an information and communications tech equipment and services provider based in Japan, launched a cloud-based logistics data standardization and visualization service for shippers, logistics firms, and supply chain vendors in December 2023. This service offers innovative solutions to enhance sustainability and address issues such as driver shortages, carbon emission reduction, and adherence to industry standards. It also provides automatic data conversion in line with logistics information standard guidelines, and includes functions for connecting, transforming, and storing various logistics data, complete with visualization and analysis tools through logistics KPIs. Its primary intention is to encourage inter-company collaboration, optimize the supply chain, and tackle issues like driver shortages and reduce energy usage via shared vehicle use.

What Are the Main Segments in the Connected Logistics Market?
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 Top Companies are Driving Growth in the Connected Logistics Market?
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, accenture*, 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.

Which Regions Will Dominate the Connected Logistics Market Through 2029?
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.

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