Retail & Consumer Goods Industry to Shape Shareholders’ Bottom Lines
The retail & consumer goods vertical would be the immediate customer of connected logistics, primarily attributable to the top-line growth of the e-Commerce industry. Consumer behavior has changed with the high influence of digital sales channels. This is compelling retail & consumer goods companies to reshape their underlying operating models with connected logistics, to keep pace with the ever-evolving industry and consumer demand. By 2029, the deployment of connected logistics in the retail & consumer goods industry will value over US$ 15 Bn.
U.S. Market Remains Most Lucrative
Revenue of the connected logistics market in North America will nearly triple over the next decade. The region is an early adopter and manufacturer of digital solutions, and thus, continues to generate significant total returns to stakeholders. Furthermore, this study highlights that, the U.S. represents the most lucrative growth prospects, and would hit US$ 10 Bn towards the end of the foreseeable period. Asia Pacific (APAC) is also reflecting investment opportunities, owing to rapid tech penetration to enhance logistics and product traceability. Influenced by an inflating customer base, companies in the region are increasingly embracing connected logistics in order to improve efficiency in terms of time and cost.
AI to Optimize Connected Logistics Ecosystem
Artificial intelligence (AI) is taking center stage in the logistics industry, as it helps reduce operating expenses (OPEX) and manage inventory with contextual intelligence. This technology exhibits the ability to optimize delivery routes and networks, as well as predict trends based on factors such as real-time sales and weather. The employment of anticipatory logistics backed by AI is accelerating, as it boosts efficiency and quality by predicting demand before consumers make a purchase.
Furthermore, AI provides actionable insights from the data collected via supply chain and logistics, which can be used to forecast accurate demand and capacity planning, thereby streamlining the entire connected logistics ecosystem.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
How Growth will Unfold
Market players continue to invest their resources in connected logistic devices, which capture around half of overall market stack. Among the devices, radio-frequency identification (RFID) and off-highway vehicle (OHV) telematics would be the top priority for enterprises, owing to their attractive features - better stock and personnel safety, and enhanced customer retention. Market players are also extracting value-capture opportunities from software, which will surpass US$ 6 Bn in 2020. Furthermore, the adoption of connected logistic services is expected to falter markedly in the coming years.
CONNECTED LOGISTICS MARKET TAXONOMY
The global connected logistics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
- Vehicle Telematics
- Data Loggers
- GPS Tracking Devices
- RFID Tags
- Fleet Management
- Asset Tracking
- Security Solutions
- Integration & Deployment
- Support & Maintenance
- IT & Telecom
- Retail & Consumer Goods
- Food & Beverages
- Energy & Utilities
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa