Connected Logistics Market by Internet of Things Technologies in Fleet Management, Warehouse and Inventory Management, by Connectivity Technologies, by Devices, Transportation Mode, Services - Global Forecast to 2020 - Reportlinker Review

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Sep 30, 2015, 05:56 ET

NEW YORK, Sept. 30, 2015 /PRNewswire/ -- The adoption of connected logistics solutions will enhance the operational efficiency of various logistics applications such as fleet management, warehouse management, tracking and monitoring, inventory management, and telematics connectivity. IoT is the main technology used in connected logistics solutions and is rapidly gaining momentum in various logistics processes due to increasing internet ubiquity and emergence of the cloud platform.

Some of the major drivers in deploying connected logistics are the declining costs of sensors and RFID devices, need for constant connectivity and access to advanced network connection. Along with these drivers, the market is facing certain restraints such as lack of common standards, skill gap, and security and privacy concerns. The global connected logistics market is expected to grow from USD 5.05 billion in 2015 to USD 20.46 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 32.3%. The key players in this market include Cisco, Eurotech S.P.A., GT Nexus, IBM, and Infosys.

The deployment of various connected logistics systems and solutions such as logistics management system, warehouse management system and security and monitoring system enables the logistics providers to reduce the demand supply imbalance of electricity significantly. Apart from this, the third party logistics are the most flourishing services and are required by major logistics companies. The connected logistics systems inculcate the use of various connectivity devices of which the RFID tags are most widely utilized while implementing the solutions. Various other factors such as growing use of smart phones and cloud based services
are catalyzing the overall growth of the connected logistics market globally.

There are various assumptions that we have taken into consideration for market size and forecasting exercise. Few of global assumptions include political, economic, social, and technological factors. For instance exchange rates, one of the economic factors is expected to have a moderate rating of impact on this market.

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