Connected Logistics Market to See Thriving Worldwide |
Market Overview
The Global Connected Logistics Market is anticipated to
account for approximately 22% of CAGR during the review period of 2017 to 2023.
In 2016, the global market was generated 10.04 million of market value.
However, the global market is projected to expand at 41.30 million of market
value during the forecast period of 2021.
Usually, connected logistics methods are widely used to manage logistics
operations and to access real-time data. The growing demand for operational
efficiency and quality, growing innovation in the mobile sector, the introduction
of IoT connecting devices, rise in the number of high technology vehicles, and
the declination of the sensors cost are the major factors that are driving the
global market growth in the assessment period.
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Key Players: -
·
AT&T
Inc. (U.S.)
·
SAP SE
(Germany)
·
Eurotech
S.P.A (Europe)
·
ORBCOMM
(U.S.)
·
IBM
Corp. (U.S.)
·
Cisco
System Inc. (U.S.)
·
Intel
Corporation (U.S.)
·
HCL
Technology Limited (India)
·
Freightgate
Inc. (U.S.)
·
Cloud
Logistics (U.S.)
·
Infosys
Limited (India)
However, the lack of balanced standards in connected logistics might
hinder the growth of the global Connected Logistics Market during the
forecast period.
Market Segmentation
The current Connected Logistics Market has been segmented based
on software, platform, mode of transportation, and industry vertical.
The current market has been classified into security, data management,
network management, asset management, warehouse management system, and
streaming analytics based on the software segment. Based on platform segment,
the Connected Logistics Market has been segmented into application
management, connectivity management, and device management.
In terms of modes of transportation, the global market has been divided
into roadways, waterways, railways, and airways. Depending on the vertical
industry segment, the present market has been segmented into retail,
manufacturing, food and beverage, oil and gas, IT & Telecom, healthcare,
automotive, and others.
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Regional Analysis
Geographically, the Connected Logistics Market has been spread
across many parts of the world, which includes North America, Asia Pacific,
Europe, and the rest of the world.
The North American region is predicted to hold the largest market share
and is estimated to dominate the market size in the forecast period. The
increasing advanced innovations in logistics are fueling the growth of the
North American regional market. Apart from this region, the Asia Pacific region
is projected to expand at the fastest pace during the analysis period. The
connected logistics industry market share is higher in this region because
of the presence of countries like India and China, which are bringing more
opportunities to the regional market. In addition, this region is expanding
because of the rising number of manufacturers in the countries and the rise in
the population. Moreover, this region is taking the help of advanced tools to
enhance the logistics works, which is bringing lucrative opportunities for the
market and creating significant growth in the forecast period.
Furthermore, the European regional market is estimated to witness
considerable growth in the global market because of the region's
considerable growth in technological advancements. Also, the rest of the world
is expected to witness a slower pace of change in the forecast timeframe as
compared to all these regions.
Industry News
In December 2018, Intel introduced a cost-effective IoT solution to its
users, which is called Intel connected the logistics platform. This platform is
helpful to monitor the condition and location in the supply chain.
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