Connected Logistics Market Size, Top Companies, Growth Statistics, Future Forecast 2024-2032

SHERIDAN, WYOMING, UNITED STATES, February 12, 2024 /EINPresswire.com/ -- IMARC Group, a leading market research company, has recently releases report titled "Connected Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032" The global connected logistics market size reached US$ 35.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 123.5 Billion by 2032, exhibiting a growth rate (CAGR) of 14.74% during 2024-2032.

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Factors Affecting the Growth of the Connected Logistics Industry:

• Technological Advancements:

The adoption of cutting-edge technologies like the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) in connected logistics is driving market expansion. These innovations enable seamless integration of logistics elements, allowing real-time data exchange and analysis. IoT devices on vehicles and cargo monitor location, condition, and environmental variables, ensuring efficient and safe transportation. AI and ML algorithms process extensive data to forecast demand, optimize routes, and automate warehouse tasks, leading to cost reductions and faster delivery.

• Rising Demand for Enhanced Transparency:

The growing demand for connected logistics, driven by the need for greater transparency in operations, is fueling market expansion. Real-time supply chain visibility enhances tracking from manufacturer to end-users, boosting accountability and minimizing delays or losses. Furthermore, increased adoption of connected logistics solutions providing detailed insights and enabling streamlined operations, efficient inventory management, and accurate delivery forecasts is further propelling market growth.

• Thriving E-Commerce Sector:

The increasing demand for connected logistics driven by the booming e-commerce industry is creating a favorable market outlook. Online retailers rely on advanced logistics solutions to handle large order volumes, ensure punctual deliveries, and manage returns effectively. Connected logistics are essential for meeting these needs by facilitating smooth coordination among warehouses, transportation, and last-mile delivery services. This integration optimizes order processing and shipment, leading to shorter delivery times and improved customer experiences.

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Key players operating in the connected logistics industry:

• 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.

Connected Logistics Market Report Segmentation:

By Component:

• Hardware
• Solutions
• Services

Solutions represent the largest segment, which can be attributed to the rising need for predictive insights.

By Software:

• Asset Management
• Warehouse IoT
• Security
• Data Management
• Network Management
• Streaming Analytics

Asset management holds the biggest market share as it tracks, monitors, and optimizes the utilization of physical assets involved in logistics operations through connected technologies and data analytics.

By Technology:

• Bluetooth
• Cellular
• Wi-Fi
• ZigBee
• NFC
• Satellite

Bluetooth accounts for the largest market share due to the increasing focus on seamless communication and data transfer between various devices and systems.

By Devices:

• Gateways
• RFID Tags
• Sensor Nodes

Sensor nodes exhibit a clear dominance in the market on account of the rising demand for real-time asset tracking.

By Transportation Mode:

• Roadways
• Railways
• Airways
• Seaways

Roadways dominate the biggest market share, which can be accredited to the increasing need to track the location, speed, and status of vehicles.

By End Use Industry:

• Automotive
• Manufacturing
• Oil and Gas
• IT and Telecom
• Healthcare
• IT and Telecommunication
• Retail
• Food and Beverage
• Others

Manufacturing accounts for the majority of the market share as to gain accurate insights into the entire supply chain, ranging from raw material procurement to finished goods distribution.

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

North America enjoys a leading position in the connected logistics market due to the presence of robust information technology (IT) infrastructure.

Global Connected Logistics Market Trends:

The increasing emphasis on environmental sustainability and carbon emission reduction in the logistics industry is driving market expansion. Connected logistics solutions optimize routes to cut fuel consumption and emissions, streamline load management to decrease trips, and enhance operational efficiency overall. Moreover, real-time tracking and data logging simplify regulatory compliance for goods transportation. Additionally, connected logistics technologies enable better risk management through predictive analytics, empowering companies to anticipate and address disruptions proactively.

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

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