Connected Logistics Market Research Study Explores Regional Outlook and Competitive Landscape
Connected logistics market is driven by increasing adoption of IoT technologies, which enable real-time data exchange & connectivity across the supply chain.
PORTLAND, PORTLAND, OR, UNITED STATES, June 2, 2023/EINPresswire.com/ — The market for connected logistics was valued at $ 16,774 million in 2016; by 2023, it is anticipated to reach $ 27,722 million, rising at a CAGR of 7.60%. The Bluetooth and sensor nodes categories have the highest growth potential and are anticipated to offer profitable prospects for market participants.
Due to technological advancements in product offerings, increased adoption of Logistics 4.0, growth associated with Big Data and Analytics, cloud technologies, surge in demand for connected devices, and expansion of application areas among end users, connected logistics are currently experiencing increased adoption in both developed and developing regions.
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The Internet of Things (IoT) has transformed the logistics industry by enabling connectivity and real-time data exchange. IoT devices such as sensors, RFID tags, and GPS trackers are deployed throughout the supply chain, providing valuable insights into the location, condition, and performance of assets and shipments. This connectivity enables logistics companies to optimize operations, enhance visibility, and improve overall efficiency.
With the increasing complexity and global nature of supply chains, there is a growing demand for enhanced visibility and transparency. Connected logistics solutions offer real-time tracking and monitoring capabilities, allowing stakeholders to have complete visibility into the movement of goods, inventory levels, and supply chain processes. This increased transparency enables better decision-making, improved risk management, and enhanced customer service.
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Automation and robotics technologies are revolutionizing the logistics industry. Connected logistics solutions integrate automation and robotics technologies such as autonomous vehicles, drones, and robotic picking systems. These technologies streamline processes, reduce manual labor, and enhance operational efficiency. Automation also enables faster and more accurate order fulfillment, leading to improved customer satisfaction and cost savings.
The proliferation of data in the logistics industry has created a need for advanced analytics and artificial intelligence (AI) technologies. Connected logistics solutions leverage data analytics and AI to derive valuable insights from large datasets. Predictive analytics can optimize route planning, anticipate demand patterns, and improve supply chain forecasting. AI-powered algorithms can automate decision-making processes and optimize overall logistics operations.
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North America was the highest revenue contributor in 2016, accounting for around 42% share. Asia-Pacific is projected to grow at the highest CAGR of 11.0% during the forecast period.
The report features the competitive scenario of the Connected Logistics market and provides comprehensive analysis of the significant growth strategies adopted by major players. The key players operating in the market include SAP, ThingWorx, SecureRF, Oracle, Zebra, Technologies, GT Nexus, IBM, Cisco System, Inc., Eurotech S.P.A., and others.
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Allied Analytics LLP
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