“The evolution of connected vehicles and increasing logistics transparency across the globe and the increasing adoption of connected and intelligent devices are some of the factors expected to drive the connected logistics market”
The connected logistics market size is estimated to grow from USD 10.04 billion in 2016 to USD 41.30 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.7%. The growth is attributed to the increasing adoption of connected/smart devices by consumers across the globe, which is increasing the demand for better network connectivity. The growing number of internet users, the presence of emerging economies, and increasing infrastructure needs are driving the growth of the market in APAC. Increasing spending in technology is contributing to the growth of the connected logistics market in North America and Europe. However, lack of uniform standards in organizational bodies is restraining the growth of the logistics and transportation vertical.
“Rising retail, pharmaceutical, and healthcare verticals are expected to gain prominent traction during the forecast period”
Retail is expected to grow at the highest CAGR in the vertical segment during the forecast period. This vertical has witnessed significant growth over the years with improvements made in the logistics management solution that helps in addressing enterprise demands. The IoT solutions will enhance the quality of shopping experience while improving available technology, economic structure, and environmental change in the interest of the retail industry.
“North America is expected to hold the largest market share, whereas APAC is projected to grow at the highest rate during the forecast period”
As per the geographic analysis, North America is expected to have the largest market share. It is likely to benefit from its technological advancements and followed by robust internet infrastructure. APAC is expected to be the fastest-growing region between 2016 and 2021in the global connected logistics market. With a huge investment in the sector, companies are facilitating the flow of goods with a highly skilled workforce and low regulatory burdens, as the region consists of the world’s largest consumer market. Hence, the adoption of new technologies and the presence of a strong domestic solution provider have contributed to the shift towards automated logistics and transportation infrastructure from conventional infrastructure. The market expected to grow at a significant pace in the coming years.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel.
The break-up profile of primary discussion participants is given below.
- By Company Type: Tier-1 (40%), Tier-2 (25%), and Tier-3 (35%) companies
- By Designation: C-level (40%), Director Level (30%), and others (30%)
- By Region: North America (40%), Asia-Pacific (APAC) (25%), Europe (20%), and Rest of World (15%)
The various key vendors in the connected logistics market profiled in the report are as follows:
1. AT&T Inc. (Texas, U.S.)
2. Eurotech S.P.A (Amora, Italy)
3. IBM Corporation (New York, U.S.)
4. Intel Corporation (Santa Clara, U.S.)
5. SAP SE (Walldorf, Germany)
6. Infosys Limited (Bengaluru, India)
7. Cisco System Inc. (California, U.S.)
8. HCL Technology Limited (Noida, India)
9. ORBCOMM (New Jersey, U.S.)
10. Cloud Logistics (Florida, U.S.)
11. Freightgate Inc. (California, U.S.)
The report carries discussion on various connected logistics segments, such as by software (asset management, warehouse IoT, security, network management, data management, streaming analytics), by platform (device management, application management, connectivity management), by service (professional, managed), by transportation mode (roadway, railway, airway, seaway), by vertical (retail, manufacturing, oil & gas and energy, pharmaceuticals and healthcare, telecom and IT, automotive, aerospace and defense, food and beverages, chemical, and others).
Reasons To Buy the report:
The report will help the market leaders/new entrants in the connected logistics market in the following ways:
- The connected logistics report segments the market into various subsegments covering this market comprehensively. The report provides the closest approximations of the market size for the overall market and the subsegments.
- The connected logistics report will help in understanding the competitors better and gain more insights to strengthen one’s market position. There is a separate section on competitive landscape, which includes competitor ecosystem and mergers & acquisitions, partnerships, and collaborations. Besides, there are company profiles of the top 10 players in the connected logistics market, where market internals that can put one ahead of the competitors, have been provided.
- The connected logistics report also helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.