Connected Logistics Market is Booming Worldwide 2020-2030
Posted by rakshita on November 12th, 2020
The Global Connected Logistics Market was valued at USD 21.42 billion in 2019 and is predicted to reach USD 41.51 billion by 2030 with a CAGR of 6.2% during the forecast period.
Connected Logistics market enables informed decision making by integrating multiple devices into a single platform. Connected logistics service providers have developed top notch interoperability through innovative products and solutions. The rise in demand for real time access of information, live tracking of goods in transit and increased operational efficiency are crucial elements that are expected to drive the growth of the market. Moreover, advancements in the technologies as well as the increasing penetration of internet are predicted to facilitate the growth of the market over the forecast period. Increase in E-commerce in conjunction with globalization and improved infrastructure are among elements expected to create opportunities for market growth. However, concerns regarding online security issues, cyber-attacks and hacking are expected to restrain market growth.
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Top Companies: SAP, Thingworx, AT&T Inc., SecureRF, Cisco Systems, Zebra Technologies, IBM Corporation, GT Nexus, Eurotech, Oracle and others.
The Connected Logistics market is segmented on the basis of technology, devices and geography. Based on technology, the market has been segmented into bluetooth, cellular, Wi-Fi, ZigBee, NFC and satellite. Based on devices, the market is segmented into gateways, RFID Tags and Sensor Nodes. In terms of geographical analysis, the market is categorized into North America, Europe, Asia Pacific and RoW.
Recent analysis indicate that North America is leading in the global Connected Logistics market but Asia Pacific region is expected to grow rapidly in market size during the forecast period. The competitive nature of the global Connected Logistics market allows big players such as SAP, Thingworx, AT&T Inc., SecureRF, Cisco Systems, Zebra Technologies, IBM Corporation, GT Nexus, Eurotech, Oracle etc. to make large investments and further escalate market growth. Strategic collaborations between big market players is a commonly adopted strategy. For instance, in December 2018, Intel announced the Intel Logistics Platform which empowers the user to monitor the condition and location of assets in any environment throughout the supply chain.
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About the Authorrakshita
Joined: October 20th, 2020
Articles Posted: 7
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