Connected Logistics Market is expected to demonstrate a CAGR of 32.5% by 2030

The Global Connected Logistics Market size is estimated to be USD 23.35 billion in 2019 and is predicted to reach USD 516.01 billion by 2030 with a CAGR of 32.5% from 2020-2030. Connected Logistics is a service which provides operational benefits in various industries by providing real time access, easy tracking, improved operational efficiency and improved productivity by the use of various integrated platforms. It is a technology which offers interconnected service from both the end by the use of various software which helps in the real time location access of goods coupled with various other services such as dispatching, communication, order processing and others.

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There has been rapid development in the technology which has led to various technological advancement coupled with increased internet penetration over the period of time is expected to be the major supporting factors for the market growth. Furthermore, increase in cloud based services, wide application in different industries are also expected to propel the growth of connected logistics market.

There are various other factors attributed the market growth include increased use of IoT, increased demand of real time information, easy access to the information and others. However, security issues and increase in cyber attacks are expected to hamper the growth of market. On the other hand, increase in E-commerce, globalization and infrastructure development is expected to crate ample opportunities in the market in the near future.

Market Segmentations and Scope of the Study:

The global connected logistics market share is analyzed on the basis of technology, devices, industry verticals and geography. On the basis of technology, the market is segmented into Bluetooth, Cellular, Wi-Fi, ZigBee, NFC, and Satellite. On the basis of devices, the market is divided into Gateways, RFID Tags, and Sensor Nodes. On the basis of industry verticals, the market is divided into retail, manufacturing, oil & energy and gas, pharmaceuticals and healthcare, telecom and it, automotive, aerospace and defense, food and beverage, chemical, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to represents the increased adoption of connected logistics and holds the major market share over the forecast period. The growth factors include presence of advanced technology and developed infrastructure, increase demand of real time information with increase in e-commerce industry on a large scale.

Asia Pacific is expected to develop rapidly owing to the presence of developing economies which further anticipates the gradual increase in market share over the forecast period. The increase in internet penetration, coupled with increased awareness towards IoT and developing infrastructure are further expected to fuel the market growth.

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The connected logistics is highly competitive in nature and also consists of various market players which contribute the overall market size over the forecast period. Some of the major market players include EUROTECH, AT&T Intellectual Property, Intel Corporation, IBM Corporation, Infosys Limited, SAP SE, HCL Technologies Limited, Cisco, Cloud Logistics, ORBCOMM, PTC, Freightgate Inc., ZIH Corp, SecureRF Corporation., Amazon Web Services Inc., Infor, BluJay Solutions, Oracle, Freightos, and Dynatrace LLC., among others.

There have been various developments taken place in the market over the period of time which further enhanced the growth of connected logistics market. For instance, In December 2018, Intel announced the Intel Connected Logistics Platform (Intel CLP), a cost-effective internet of things (IoT) solution enabling users to monitor the condition and location of assets in any environment throughout the supply chain. With PA Consulting and Google Cloud, Intel CLP can benefit businesses with near real-time supply chain visibility, while monitoring the quality, integrity and security of their shipments while on the move. Intel CLP provides near real-time supply chain visibility, while monitoring the quality, integrity and security of freight during every step in the supply chain.