The global Connected Logistics Market size is expected to reach USD 86.57 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 14.5% in the forecast period. The term ‘connected logistics’ refers to a collection of tools, and platforms, including hardware and software, that enable real-time tracking of commodities sent by land, rail, air, and sea routes.
To facilitate shipment, it communicates logistical and pertinent data such as tracking and traceability with every participant in the supply chain, such as manufacturers, suppliers, and customers, among others. By integrating several linked platforms, these solutions aid businesses in enhancing information flow during shipment and delivery using RFID chips. Connected logistics provides improved warehouse management using technologies such as the Internet of Things (IoT), blockchain, virtual reality, and big data, among others.
Connected logistics has enhanced the efficiency of last-mile delivery with the aid of communication devices and tracking devices. Connected logistics aid in the efficient management of supply chain security, freight traffic, and routing of the fleet by minimizing the cost of the transport. Additionally, technologies such as vibration monitoring and global positing system (GPS) aid in performance optimization and provide position tracking for each fleet vehicle. Connected logistics have significantly improved risk resilience planning.
Thus, increased demand for improved warehouse management and rising demand for efficient supply chain management among others are the factors fueling the growth of the target market. The demand for intelligent transportation solutions is anticipated to rise significantly overall, as well as in the logistics sector. It is expected that logistics 4.0 and ongoing work on autonomous logistics trucks will present lucrative opportunities for the target market's expansion.
Logistics 4.0 uses analytics, data, the internet of things, and automated decision-making solutions to improve operational efficiency and performance. For instance, in April 2022, Daimler trucks, with its independent auxiliary Torc Robotics, started testing their autonomous trucks, which operate on four levels of autonomous driving in the U.S. Additionally, autonomous trucks are increasingly gaining traction across the logistics industry owing to rising shortage of drivers, increased safety and improved efficiency.
The increasing implementation of logistics 4.0 and ongoing efforts to develop autonomous logistics vehicles are predicted to give profitable opportunities for the target market's growth over the forecast period. Additionally, the necessity to reduce the cost of shipping and storage services is propelling the demand for connected logistics products and solutions. The need for intelligent transportation solutions is anticipated to rise significantly. The declining cost of loT sensors and connected logistics hardware is one of the driving factors of the target market growth.
The COVID-19 pandemic led to disruptions in the global supply chains. In addition, the state and federal governments announced the lockdowns and border closures, which halted the shipment of the goods. However, the pandemic accelerated the adoption of technologies such as the internet of things (IoT), automation, and robotics, among others, in the logistics sector.
For instance, according to a report by Inmarsat, a leader in mobile satellite communications, “Owing to the pandemic, 90% of the transportation and logistics firms have adopted or are planning to adopt the deployment of Internet of Things (IoT) projects. Additionally, there has been a shift from electronic data to app-based program interfaces with cloud integration, enabling logistics companies to connect with e-commerce platforms.
Related Press Release@ Connected Logistics Market Report
List of Key Players in the Connected Logistics Market
- Intel Corporation
- Infosys Limited
- Cisco System Inc.
- HCL Technology Limited
- IBM Corporation
- SAP SE
- ORBOCMM
- Freightgate Inc.,
- Honeywell International Inc.
- NEC Corporation
Connected Logistics Market Report Highlights
- The hardware segment dominated the market in 2022. The sensors are the largest sub-segment of hardware components in terms of revenue owing to the increasing demand for asset tracking
- The services segment is anticipated to expand at the fastest CAGR during the forecast period. The managed services sub-segment generated the highest revenue in 2022. The high rate of outsourcing business functions contributes to the increasing demand for managed services
- The freight/transportation management software segment held the largest market share in 2022 and is also anticipated to register a promising CAGR during the forecast period. The dominance of the segment is owing to the need to reduce transportation costs and improve reliability
- The roadways segment dominated the market in 2022. This dominance can be attributed to the growing need for reduced traffic congestion, road safety, and increasing government initiatives in infrastructure development
- The retail and e-commerce segment is anticipated to expand at the fastest CAGR. The growth can be attributed to the increasing preference for online shopping among consumers
- North America dominated the market in 2022 and Asia Pacific segment is anticipated to register the highest CAGR during the forecast period. The growth can be attributed to the increasing investments in megacity projects in countries such as India and China
Connected Logistics Market Report Scope
Report Attribute
Details
Market size value in 2023
USD 33.58 billion
Revenue forecast in 2030
USD 86.57 billion
Growth Rate
CAGR of 14.5 % from 2023 to 2030
Historical data
2017 - 2021
Base year for estimation
2022
Forecast period
2023 - 2030
Related Reports@
Connected Logistics Market Segmentation
Grand View Research has segmented the global connected logistics market report based on component, transportation mode, vertical, and region.
Connected Logistics Component Outlook (Revenue, USD Million, 2017 - 2030)
- Hardware
- RFID Tags
- Sensors
- Communication Devices
- Tracking Devices
- Others
- Software
- Warehouse Management
- Fleet Management
- Freight Transportation Management
- Asset Tracking and management
- Data Management and Analytics
- Others
- Services
- Consulting
- Integration and Deployment
- Support & Maintenance
- Managed Services
Connected Logistics Transportation Mode Outlook (Revenue, USD Million, 2017 - 2030)
- Roadways
- Railways
- Airways
- Waterways
Connected Logistics Vertical Outlook (Revenue, USD Million, 2017 - 2030)
- Retail & E-commerce
- Automotive
- Aerospace & Defense
- Healthcare
- Energy
- Electronics & Semiconductors
- Others
Connected Logistics Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia-Pacific
- China
- India
- Japan
- South America
- Brazil
- Middle East & Africa
The Global Connected Logistics Market was valued at USD 21.42 billion in 2019 and is predicted to reach USD 41.51 billion by 2030 with a CAGR of 6.2% during the forecast period.Connected Logistics market enables informed decision making by integrating multiple devices into a single platform.
Connected logistics service providers have developed top notch interoperability through innovative products and solutions.
However, concerns regarding online security issues, cyber-attacks and hacking are expected to restrain market growth.Access Full Description of this report at:-https://www.nextmsc.com/report/connected-logistics-market Top Companies: SAP, Thingworx, AT Inc., SecureRF, Cisco Systems, Zebra Technologies, IBM Corporation, GT Nexus, Eurotech, Oracle and others.The Connected Logistics market is segmented on the basis of technology, devices and geography.
The competitive nature of the global Connected Logistics market allows big players such as SAP, Thingworx, AT Inc., SecureRF, Cisco Systems, Zebra Technologies, IBM Corporation, GT Nexus, Eurotech, Oracle etc.
For instance, in December 2018, Intel announced the Intel Logistics Platform which empowers the user to monitor the condition and location of assets in any environment throughout the supply chain.About Next Move Strategy Consulting:Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share.
Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade.
Growing at a stellar pace, Global Connected Logistics Market is set to increase the worth of the market, bringing it up to USD 55.17 billion by the end of the year 2025.
This is a steep rise from 2016, when the market worth was USD 10.21 billion.
This translates to an impressive 17.8% CAGR (Compound Annual Growth Rate) from 2017 to 2025.Technological Advancement to Propel Global Connected Logistics Market Growth over the Forecast PeriodOne of the major reasons supporting the growth of global connected logistics market is the technological advancement marking the landscape in terms of both transportation, and packaging.
Besides, development of better fuel and rising demand for shipped goods is also fueling the market growth by a substantial value.
E-commerce is playing a significant role in this area, fueled by rising disposable incomes and massive globalization, driving forward cross-border trade, enabling access to new and more products at the convenience of a click.Additionally, growing adoption and development of supporting technologies, like the Internet of Things (IoT) is also contributing significantly to the impressive CAGR that the global connected logistics market is set to chart over the forecast period.Get sample copy at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=25196Sensitive Products to Drive Demand Up for Global Connected Logistics Market over the Forecast PeriodIt is also worth noting that certain goods such as pharmaceuticals, that are time sensitive at most times and also require proper tracking and storage.
And, the reason behind this is that drugs and certain formulations are usually temperature sensitive.
