The global connected logistics market reached a value of US$ 25.55 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 67.96 Billion by 2027, exhibiting a CAGR of 16.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Connected logistics allow organizations to plan orders and shipments in advance and help them prevent delayed deliveries by providing shipment monitoring with real-time tracing and tracking. It also offers geofencing, route optimization, fleet management, vehicle analytics, and security from theft, loss, or damage of shipments. Besides this, it helps forecast for predictable departure and arrival of shipments, improve operational efficiency, and enhance productivity by integrating multiple connected devices on a single interface. As a result, connected logistics find extensive applications in businesses across different industry verticals, such as automotive, healthcare, retail, manufacturing, and food and beverage (F&B).
Connected Logistics Market Trends:
The thriving information technology (IT) sector represents one of the key factors positively influencing the market. Moreover, conventional logistics cycles do not have transparency and clarity as the logistics workflow relies on historical information for ongoing transportation and delivery processes. As a result, there are differences between the estimates about fuel prices, route choices, and other aspects. However, connected logistics integrates radio frequency identification (RFID) chips and the internet of things (IoT) devices in carriage trucks, shipments, and individual product units. The data generated from these devices enables organizations to know the exact location and condition of the loads. Additionally, they can interpret the transportation and shipping prices in the market before they select their freight forwarders for overseas shipping, which increases the overall visibility and transparency in logistics. Apart from this, factors, including storage space, the correct placement of stock, and the number of laborers required can be predetermined using connected logistics. This, coupled with the rising adoption of cloud-based solutions and the increasing digitalization in businesses across the globe, is stimulating the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global connected logistics market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, software, technology, devices, transportation mode and end use industry.
Breakup by Component:
Breakup by Software:
Breakup by Technology:
Breakup by Devices:
Breakup by Transportation Mode:
Breakup by End Use Industry:
Oil and Gas
IT and Telecom
IT and Telecommunication
Food and Beverage
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being AT&T Inc., Cisco Systems Inc., Eurotech S.p.A., HCL Technologies Limited, Honeywell International Inc., Infosys Limited, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE and Zebra Technologies Corporation.
Key questions answered in this report:
How has the global connected logistics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global connected logistics market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the software?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the devices?
What is the breakup of the market based on the transportation mode?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global connected logistics market and who are the key players?
What is the degree of competition in the industry?