Global Connected Logistics Market: Key Highlights
- According to the new market research report “Connected Logistics Market by Technology (Bluetooth, ZigBee, NFC, Satellite, Cellular and Wi-Fi), by Software (Asset Management, Network Management, Data Management, Remote Asset Tracking and Security), by Platform (Application Management, Connectivity Management and Device Management), by Service (Integration and Deployment Services, Support and Maintenance and Consulting Services), by Transportation Mode (Roadways, Seaways, Railways and Airways), by Device (Gateways, RFID Tags and Sensor Nodes), by Vertical (Retail, Manufacturing, Aerospace and Defense, Food and Beverage, Telecom and IT, Automotive, Oil, Gas, and Energy, Pharmaceuticals and Healthcare, Chemicals and others), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)”, the global Connected Logistics Market is estimated to reach USD 128.3 Billion by 2027 at a CAGR of around 28.3% during the review period.
- The connected logistics helps to offer various benefits to logistics businesses by providing real-time access, enhance the operational effectiveness, as well as increase the productivity by integration of multiple connected platforms.
- Moreover, it also reduces the environmental harms and delivers real-time data into the progress of the logistics sector. These advancements will help the market to boost its efficiency in the forecast period.
Global Connected Logistics Market: Key Market Dynamics
- With the increasing penetration of Internet of Thing (IoT) is witness to boost the growth of the market in the forecast period. Whereas, it can help to provide an efficient supply chain platform for the logistics as well as for transportation industry.
- One of the major key concern of the market is the lack of logistics standardization which may hamper the market growth. Whereas, the lack of standardization is excepted to results in inefficient logistics operations which may lead to increase the logistics cost.
- Rising advancement in cloud computing and increasing technological advancement in logistic industries is a key role for the growth of the connected logistics market in the forecast period.
- Security concern is act as a major challenging factor for the growth of the market in the forecast period.
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Global Connected Logistics Market: Regional Overview
- North America:
The North America regional is had projected that the tremendous growth with the rising developed technological infrastructure. Whereas, with the rising of new smart building solution with new technologies such as IoT, big data, cloud computing and artificial intelligence, will play as a key factor for market growth in the region. However, the penetration of Wi-Fi, enhanced internet platform, as well as the smart city initiatives, will fuel the market growth.
Hence, these trend will lead to enhance the growth of the market in the forecast period.
The Asia-Pacific is projected of play a leading role for the growth and developments of the market in the forecast period. Whereas, the rising in the technology, increasing the use of sensors, expected to boost the market growth. Also, growing in adoption in new emerging technologies such as AI, machine learning and IoT and initiative taken by the government may lead to create a major impact for the growth of the market.
Hence, the rapid growing information and communications technology platform in the countries such as China and India, lead to fuel the growth of the market in the forecast period.
Global Connected Logistics Market: Key Players Overview
- IBM Corporation:
IBM is a leading of cloud platform and cognitive solutions company. Also, the company offers application, technology consulting and support, process design and operations, cloud, as well as network services. Whereas, the company helps to enhance the travel business with the scalable, dependable networks to boost the operations and support innovative. In 2018, the IBM and Maersk has announced the creation of TradeLens, the combine developed by the two companies to apply blockchain to the world's global supply chain. This will result a blockchain-enabled shipping solution which designed to promote more efficient and secure global trade, bringing together various parties to support information sharing and transparency, and spur industry-wide innovation.
- Telefonaktiebolaget LM Ericsson:
Telefonaktiebolaget L M Ericsson, commonly known as Ericsson, which is a multinational networking and telecommunications company. Whereas, the company develops and manufactures network equipment and software and services for network and business operations. In 2018, the Ericsson and China Mobile signed a Strategic Cooperation Framework Agreement to build on Ericsson leadership in IoT Connectivity Management. This will focus IoT Connectivity as well as the IoT Ecosystems including manufacturing, health, and intelligent transport.
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