Connected Logistics Market to grow by USD 62.28 billion from 2022 to 2027 | Effective management of temperature-sensitive products to boost the market- Technavio

NEW YORK, Aug. 23, 2023 /PRNewswire/ -- The connected logistics market size is estimated to grow by USD 62,287.98 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 23.32%. The growth momentum will progress during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 36%. North America is estimated to contribute 36% to the growth by 2027. The prevalence of technology in supply chain and distribution management is driving this trend. The region's substantial market share is supported by strong information and communication technology infrastructure along with strong global connectivity. Furthermore, leading logistics providers such as DHL, GENCO, and Lineage Services are creating growth prospects for companies in the market. Hence, these factors are expected to drive market growth in the region during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Connected Logistics Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on mode of transportation (roadways, railways, airways, and waterways), type (Software services, IT services, and Hardware services), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The roadways segment will account for a major share of the market's growth during the forecast period. Connected logistics significantly improve transportation operations by facilitating better routing, optimal asset utilization, and better customer service. Accurate fuel cost estimation and route selection are among the benefits that contribute to the growth of connected logistics in the road sector. For the global supply chain, cold storage is critical, and connected logistics facilitate real-time temperature monitoring, helping transport managers and regulators prevent problems. such as product damage. Hence, these factors are expected to drive segment growth during the forecast period.

Insights on the market contribution of various segments, including country and region wise historic (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Connected Logistics Market – Market Dynamics

Key Driver

Effective management of temperature-sensitive products is a key factor driving market growth. Inefficient supply chain structures, especially in developing countries, play a central role in significant product losses. Poor temperature management and failure to comply with storage regulations largely explain the deterioration of temperature-sensitive items. To solve these problems, companies are adopting technologies such as IoT-enabled smart refrigerators, analytics, and cloud solutions. In addition, Custom-connected logistics systems skillfully handle temperature-sensitive items in different climates. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends

The increasing adoption of IoT in SCM systems is a major trend in the market. 

Significant Challenge 

Technical glitches in the use of connected logistics are challenging the market growth. 

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Connected Logistics Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the connected logistics market between 2023 and 2027
• Precise estimation of the size of the connected logistics market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the connected logistics market across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of connected logistics market companies

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Grade Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About US
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SOURCE Technavio