IMARC Group, a leading market research company, has recently released a report titled “Connected Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″. The study provides a detailed analysis of the industry, including the global connected logistics market scope, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Connected Logistics Industry?
According to the report, The global connected logistics market size reached US$ 30.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 74.0 Billion by 2028, exhibiting a growth rate (CAGR) of 16.35% during 2023-2028.
What is Connected Logistics?
Connected logistics enables corporations to plan shipments and orders in advance and help prevent delayed deliveries by offering shipment tracking with real-time tracking. They use various platforms, software, and hardware to obtain real-time information. They transport goods through several modes, such as airways, roadways, railways, and seaways. They are employed to provide supply chain partners with all essential data and logistics information to streamline transportation processes. In addition, they provide fleet management, geofencing, vehicle analytics, route optimization, and safety from loss, theft, or damage of shipments. Owing to these benefits, connected logistics are widely adopted in retail, automotive, manufacturing, healthcare, and food and beverage (FB) sectors.
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What are the growth prospects and trends in the connected logistics industry?
The market is primarily driven by the significant expansion in the information and technology (IT) sector. In addition, connected logistics provide numerous benefits, such as real-time access, increased productivity, and improved operational efficiency contributing to market growth. Moreover, various technological advancements, such as the incorporation of sensor-based technology like radio frequency identification (RFID) chips and internet of things (IoT) devices in shipments, vehicles, and individual products, that generates data and allows organizations to track the exact location and condition of their shipments represents another major growth-inducing factor. Furthermore, the widespread adoption of cloud-based solutions and increasing digitalization in corporations are creating a positive market outlook across the globe.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
Breakup by Software:
- Asset Management
- Warehouse IoT
- Data Management
- Network Management
- Streaming Analytics
Breakup by Technology:
Breakup by Devices:
- RFID Tags
- Sensor Nodes
Breakup by Transportation Mode:
Breakup by End Use Industry:
- Oil and Gas
- IT and Telecom
- IT and Telecommunication
- Food and Beverage
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ATT Inc. (NYSE:T)
- Cisco Systems Inc. (NASDAQ: CSCO)
- Eurotech S.p.A.
- HCL Technologies Limited
- Honeywell International Inc.
- Infosys Limited
- Intel Corporation
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Zebra Technologies Corporation.
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