Connected Logistics Market Size & Share Set to Reach USD 71.10 Billion by 2030, at 18.1% CAGR Growth: Polaris Market Research

NEW YORK, Nov. 21, 2022 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "Connected Logistics Market Share, Size, Trends, Industry Analysis Report, By Component Analysis (Hardware, Solutions, Service); By Transportation; By Vertical; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the research study, the global connected logistics market size & share was valued at USD 16.11 billion in 2021 and is expected to reach USD 71.10 Billion by 2030, growing at a CAGR of 18.1% during the forecast period.

What is Connected Logistics? What is Expected Size & Share of Connected Logistics Market?

• Overview

Connected logistics is a set of interconnected wireless sensor devices, joints, and Internet of Things (IoT) technologies that enhance operating efficiency in the logistics industry. With this technology, logistical businesses can gain real-time updates, interoperability, and access to required information. Connected logistics is not just about the Industrial Internet of Things, but it also includes services, security, the cloud, big data analysis, and several other third-platform technologies.

Connected logistics includes other associated logistics operations such as tracking, monitoring, asset management, warehouse management, as well as order processing, financial transactions, dispatching, and shipping. These technologies enhance process transparency which helps companies in becoming more client-focused and productive, thus driving the connected logistics market size.

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Our Free Sample Report Includes

• Report introduction, overview, and in-depth industry analysis
• Breakdown data by regions, type, players, and applications
• Competitive landscape and leading competitor market shares
• 110+ pages research report
• Offers chapter-wise instruction on request
• Includes market presence across different geographies with share, size, and trends
• Updated list of tables and figures
• The report covers leading players with their business strategies
• Factors and fact research methodology

Some of the Top Companies Operating in Global Market Are:

• AT&T Inc.
• IBM
• Intel Corporation
• SAP SE
• Infosys Ltd.
• Cisco Inc
• HCL Technologies Ltd
• ORBCOMM Corp
• EUROTECH Group
• Freightgate Corporation
• YUSEN LOGISTICS CO. LTD.
• NIPPON EXPRESS CO. LTD.
• SENKO Group Holdings Co. Ltd
• XPO Logistics Inc

For Additional List of Players and Detail Information, Download a Report PDF Brochure

Growth Driving Factors

• Surging advancements in software and cloud-based technologies to flourish the market growth

Big Data & advanced analytics are two technologies expected to augment the deployment of logistics 4.0. Data obtained from logistics and supply chains may be converted into insights that can be used by organizations to measure demand accurately. These factors are majorly driving the demand for the connected logistics market. Also, increasing demand for cloud-based services, RFID, and internet accessibility everywhere is propelling the market growth. The industry is further booming due to the rising development of novel software and cloud-based technologies for product management and transportation.

Moreover, growing economies, fluctuating consumer lifestyles, and the rapid development of smart communities in developing economies like China, Brazil, & India are expected to accelerate the connected logistics market sales. In addition, factors such as the lowering cost of communication tools coupled with the escalating demand for logistic operational effectiveness and increasing acceptance of smart devices worldwide are positively influencing the connected logistics industry evolution.

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Recent Developments

In May 2020, BluJay Solutions, a top cloud-based logistics execution platform, acquired E2open Parent Holdings, Inc. for about USD 1.7 billion. E2open Parent Holdings, Inc. is a leading network-based distributor of a 100% cloud-based, mission-critical, end-to-end management of supply chains platform.

Segmental Analysis

• Solutions held the biggest market share in 2021

Based on component analysis, the solutions segment accounted for the highest revenue share in the market in 2021. It is also expected to continue its dominance over the forecast period owing to the growing necessity for flexibility and efficient supply chain management. Further, the market's hardware component segment is further divided into gateway, RFID tags, and sensor node. Among these, sensor node sub-segment accounted for the largest revenue share.

• Roadways are anticipated to dominate the market

Based on transportation connected logistics market segmentations, the roadways segmentation is growing at the fastest rate because management and organization of merchandise regarding production, warehousing, distribution, and reuse are easier. Also, the rising requirement for transportation solutions is fueling the segment demand.

• Consumer goods & retail vertical is predicted to lead the market during foreseen period

In terms of vertical, the consumer goods & retail sector is expected to record the major CAGR over the forecast period due to the rising adoption of time-sensitive shipments by the industry players. This may minimize average delivery time (ADT) and provide a competitive advantage in the supply chain.

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Connected Logistics Market: Report Scope & Analysis

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Geographic Overview

• The connected logistics market in North America is predicted to dominate the market with significant share

Based on geography, North America is expected to generate high growth for the market. North America is estimated to generate nearly USD 23.97 billion by 2026. One of the major factors driving the industry growth in the region is the rising use of cutting-edge technologies like machine learning, the Internet of Things, cloud technology, big data, analytics, and deep learning.

Moreover, Europe is the second-largest current region and is expected to progress at a spectacular CAGR over the foreseen period. This can be attributed to the developing logistics sector. In addition, growing investments by public and private companies in the transportation industry are anticipated to boost European market growth.

Browse the Detail Report "Connected Logistics Market Share, Size, Trends, Industry Analysis Report, By Component Analysis (Hardware, Solutions, Service); By Transportation; By Vertical; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/connected-logistics-market

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Polaris Market Research has segmented the connected logistics market report based on component analysis, transportation, vertical, region:

By Component Analysis Outlook

• Hardware
• Gateway
• RFID Tags
• Sensor Node

• Solutions
• Freight Management
• Fleet Management
• Warehouse Management
• Asset Tracking and Management
• Device Management
• Connectivity Management
• Others

• Service
• Professional Services
• Managed Services

By Transportation Outlook

• Roadways
• Railways
• Airways
• Maritime

By Vertical Outlook

• Manufacturing
• Automobiles
• Food and Beverage
• Consumer Goods & Retail
• Oil and Gas
• Tourism and Hospitality
• Pharmaceuticals
• Other Industries

By Region Outlook

• North America (U.S, Canada, Mexico)
• Asia-pacific (China, Japan, India, Australia, Rest of Asia- pacific)
• Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
• LAMEA (Latin America, Middle east & Africa)

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About Polaris Market Research

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SOURCE Polaris Market Research