With 24.7% CAGR, Connected Logistics Market Worth USD 82.14 ...| MENAFN.COM

Monday, 15 August 2022 01:42 GMT

With 24.7% CAGR, Connected Logistics Market Worth USD 82.14 Billion By 2026


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Pune, India, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The global connected logistics market size is projected to reach USD 82.14 Billion by 2026. Technological advancements have played a key role towards the advancements in connected logistics systems. According to a report published by Fortune Business Insights, the market was worth USD 14.49 billion in 2018 and will exhibit a CAGR of 24.7% during the forecast period, 2019-2026.

Connected logistics is an interconnected system that delivers real-time data about the goods and products that are carried during the transportation. Use of real-time concepts such as IoT and AI have allowed improved efficacies. Recent advancements in products have led to a wider product adoption across the world. The increasing investment in the development of advanced connected logistics will emerge in favor of the growth of the market. The high demand for these products is consequential to the increasing trading activities in several countries across the world. Moreover, the decreasing costs of IoT-integrated systems, accounting to the availability of open source systems, will influence the growth of the market in the coming years.


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Industry Developments:

December 2018 – Intel Corporation announced the launch of 'Intel Connected Logistics Platform.' The product is aa cost-effective IoT solution that will help users monitor and track the location of the assets during the transportation process.

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2019 to 2026
Forecast Period 2019 to 2026 CAGR 24.7%
2026 Value Projection USD 82.14 billion
Base Year 2021
Connected Logistics Market Size in 2018 USD 14.49 billion
Historical Data for 2015 to 2017
No. of Pages 160
Segments covered Component, Transportation Mode, Vertical and Geography
Connected Logistics Market Growth Drivers Growing Adoption of IoT-Enabled Connected Devices to Aid the Market Growth
Emergence of High-Tech Vehicles to Drive the Growth of the Market
Lack of Logistics Standardization


Rising Digitization Amid Pandemic to Propel Growth

The COVID-19 pandemic has positively impacted the Connected Logistics Market growth due to rising digitization in several industries. Also, leading companies from various sectors have adopted recent technologies to simplify their business operations and ease the work process. Furthermore, the companies implemented recent technologies to adopt work from home/remote work culture. These factors bolstered the market growth and expansion during the pandemic.


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Drivers and Restraints:
Increasing Number of Company Mergers Will Aid Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers and acquisitions have made the highest impact on the growth of the market. In January 2020, Trimble announced that it has completed the acquisition of Kuebix. Through this acquisition, the company plans to enhance its transportation technology portfolio. Trimble will gain access to Kuebix's private fleet and commercial carrier. Trimble's acquisition will not only help the company generate substantial market revenue, but will have a positive impact on the growth of the market in the coming years.

SEGMENTATION

By Component Analysis

Solutions Segment is Expected to Augment the Market During the Forecast Period

The service segment of the market is expected to be the fastest-growing segment during the forecast period. Along with the solutions, the key players are also engaged in providing professional and managed services. Among these, professional services hold the largest market share owing to the growing demand for digital & analytics and R&D services among the organizations to gain a competitive edge.

Connected Logistics Market Segments By Component
  • Hardware
  • Solution
  • Service
By Transportation Mode
  • Roadway
  • Railway
  • Airway
  • Seaway
By Vertical
  • Manufacturing
  • Automotive
  • Food and Beverages
  • Consumer Goods and Retail
  • Oil & Gas
  • Travel and Hospitality
  • Healthcare and Pharmaceuticals
  • Others


Regional Insights:

North America to Emerge Dominant; Growing Adoption of Logistic Solutions Will Aid Growth

North America Connected Logistics Market Size, 2018 USD 4.71 Billion . The report analyses the ongoing smart label market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these regions, the market in North America is likely to emerge dominant in the coming years. The increasing adoption of connected logistics solutions has created several growth opportunities for the companies operating in the regional market. As of 2018, the market in North America was worth USD 4.71 billion and this value is projected to increase further in the coming years. Besides North America, the market in Europe will witness considerable growth in the coming years.


Have Any Query? Ask Our Experts:


List of the leading companies that are operating in the global market are:

  • AT&T Intellectual Property
  • Robert Bosch GmbH
  • Cisco Systems, Inc.
  • Freightgate Inc.
  • HCL Technologies Limited
  • Honeywell International Inc.
  • IBM Corporation
  • Infosys Limited
  • Intel Corporation
  • NEC Corporation
  • One Network Enterprises
  • ORBCOMM
  • SAP SE
  • SIGFOX
  • Zebra Technologies Corp


Quick Buy –


FAQ's

How big is the connected logistics market?

The global connected logistics market size stood at USD 14.49 billion in 2018 and is projected to reach USD 82.14 billion by 2026, exhibiting a CAGR of 24.7% during the forecast period.

Which is the leading segment in the connected logistics market?

Connected logistics is a set of platforms or software and hardware that helps gain real-time information regarding the goods that are shipped through various modes of transportation, including roadways, railways, airways, and seaways.


Major Table of Contents:

  • Global Connected Logistics Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Size Estimates and Forecasts
      • By Component (Value)
        • Hardware
          • Gateway
          • RFID Tags
          • Sensor Node
        • Solutions
          • Warehouse Management
          • Freight Management
          • Fleet Management
          • Asset Tracking and Management
          • Device Management
          • Connectivity Management
          • Others
        • Services
          • Managed Services
          • Professional Services
      • By Transportation Mode (Value)
        • Roadway
        • Railway
        • Airway
        • Seaway
      • By Vertical (Value)
        • Manufacturing
        • Automotive
        • Food and Beverages
        • Consumer Goods and Retail
        • Oil & Gas
        • Travel and Hospitality
        • Healthcare and Pharmaceuticals
        • Others
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • The Middle East and Africa
        • Latin America
  • North America Connected Logistics Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Size Estimates and Forecasts
      • By Component (Value)
        • Hardware
          • Gateway
          • RFID Tags
          • Sensor Node
        • Solutions
          • Warehouse Management
          • Freight Management
          • Fleet Management
          • Asset Tracking and Management
          • Device Management
          • Connectivity Management
          • Others
        • Services
          • Managed Services
          • Professional Services
      • By Transportation Mode (Value)
        • Roadway
        • Railway
        • Airway
        • Seaway
      • By Vertical (Value)
        • Manufacturing
        • Automotive
        • Food and Beverages
        • Consumer Goods and Retail
        • Oil & Gas
        • Travel and Hospitality
        • Healthcare and Pharmaceuticals
        • Others


TOC Continued…!


About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email:




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