Connected Logistics Market Set for Three-fold Revenue Growth Over 2019-2029
Amidst tech-driven disruptions, a majority of supply & logistic companies are still living in the pre-transformation era. Industrials are striving to introduce new products and deliver better services that respond flexibly to evolving expectations, while maintaining (or improving) their value pool. In order to flourish in this digital era, industry executives need a new-age model for their supply chain and logistics. Against this backdrop, the global connected logistics market will experience an astounding growth over 2019-2029, with revenue surging over 3X.
Key Factors Shaping Connected Logistics Market
Increasing Adoption of RFID Tags in Connected Logistics Spurring Market Growth
The rising need for efficient supply chain management is expected to support the growth of RFID tags in the connected logistics market. RFID in logistics has potential in route optimization and real-time tracking of goods. RFID is used to provide precise location and quantity data in real-time. RFID produces accurate and real-time information of goods that are in-transit or work-in-progress. Generally, RFID tags store detailed information up to 2 KB related to the product on which they are tagged, and the prices and details of products are automatically recorded. RFID tags in integration with cloud-based technology are used for real-time monitoring and storing data. Cloud-based RFID tags offer users additional functionalities such as warehouse and inventory management, depending upon the need for operations.
Logistics 4.0 Driving Growth of Connected Logistics Market
Logistics 4.0 enables process improvement through a variety of technological advancements, which include automated systems, driverless transport vehicles, and robotics. Increase in the adoption of cloud-based technology with the usage of logistics 4.0 and IoT is driving the growth of the connected logistics market. IoT sensors are built into cargo, ships, cabs, and trains, and are connected to an alarm system or dispatcher that is used for tracking and monitoring. These sensors transmit information to the team, which then gains insights of hidden risks and knowledge. This also gives accurate in-transit visibility and delivery of goods. The demand for cloud-based software as a service is increasing in logistics, as it helps logistic professionals access critical data and applications, both, on the road and in the office, from any connected device.
Adoption of AI Propelling Demand for Connected Logistics
Artificial intelligence (AI) is taking a central role in the logistics industry. AI provides logistics with contextual intelligence, which is used to reduce operating costs and manage inventory. AI has the ability to predict demand, optimize delivery routes, and manage networks. It can predict trends based on factors such as real-time sales, weather, and other things. The demand for anticipatory logistics that uses AI is increasing, as it allows logistic professionals to improve efficiency and quality by predicting demand before a consumer places an order. AI helps give useful insights from the data collected through supply chain and logistics, which can be used to streamline the entire logistics ecosystem. AI can help optimize future performance by forecasting accurate demand and capacity planning.
North America Connected Logistics Market to Remain Dominant through 2029
In terms of value, North America led the global connected logistics market in 2018. This regional market is projected to offer the most lucrative opportunities for revenue generation over the forecast period. The market in South Asia & Pacific is expected to record the highest growth rate over the forecast period, owing to the adoption of advanced technology to improve logistics management and traceability. Organizations in this region are experiencing increase in customers, which brings out the need for organized logistics to reduce cost and time.
Connected Logistics Market: Structure Analysis
- Partnerships, acquisitions, and collaborations by niche players is one of the key strategies being followed by leading connected logistics providers in the market.
- Bosch, Infosys, Cisco System, HCL Technologies, SAP SE, and Intel Corporation are the largest and most experienced players in the global connected logistics market.
- The market is fragmented in nature, which remains a key factor for its dynamic competitive structure.
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.
Devices remain highly preferred
Software to witness stable growth
Surging usage in roadways
Railways to see adoption upheaval
High adoption in retail & consumer goods vertical
Increasing application in manufacturing vertical
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.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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A recent market study published by Future Market Insights (FMI) on the connected logistics market includes global industry analysis of 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.
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
The report begins with the executive summary of the connected logistics market, which includes a summary of the key findings and statistics of the market. It also includes the demand- and supply-side trends pertaining to the market.
Readers can find the definition and detailed taxonomy of the connected logistics market in this chapter, which will help them understand the basic information about the market. Along with this, comprehensive information pertaining to connected logistics and its properties are provided in this section. This section also highlights the inclusions and exclusions, which help readers understand the scope of the connected logistics market report.
The Connected Logistics market report provides key market trends that are expected to significantly impact market growth during the forecast period. Detailed end user trends are also provided in this section.
This section explains the global market value analysis and forecast for the connected logistics market during the forecast period of 2019-2029. It includes a detailed analysis of the historical connected logistics market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019-2029). Along with this, the pricing analysis of the connected logistics market at the regional level has also been provided in this section.
This chapter explains the key macroeconomic factors that are expected to influence the growth of the connected logistics market over the forecast period. Along with macroeconomic factors, this section also highlights the supply chain, forecast factors, and value chain analysis of the connected logistics market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
This chapter explains the logistics performance index of major countries including U.S., Canada, Mexico, China, Japan, India, Turkey, and other countries.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the Connected Logistics market, along with their market presence analysis by region and product portfolio.
Based on product solution, the Connected Logistics market is segmented into devices (vehicle telematics, data logger, RFID tags, GPS tracking devices), software (fleet management, Asset tracking and management, security solution), services (integration & deployment, consulting, support & maintenance). In this chapter, readers can find information about key trends and developments in the connected logistics market and market attractiveness analysis based on component.
Based on application, the connected logistics market is segmented into roadways, railways, airways, and seaways. In this chapter, readers can find information about key trends and developments in the connected logistics market and market attractiveness analysis based on application.
This chapter provides various details about the connected logistics market based on vertical, and has been classified into IT & Telecom, healthcare, automotive, food & beverages, retail & consumer goods, energy & utilities, manufacturing and others. In this chapter, readers can understand the market attractiveness analysis based on Vertical.
This chapter explains how the Connected Logistics market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa.
This chapter includes a detailed analysis on the growth of the North America connected logistics market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the regional trends, and market growth based on vertical, and countries in North America.
This chapter provides the growth scenario of the connected logistics market in Latin American countries such as Brazil, Mexico, and the rest of Latin America. Along with this, assessment of the market across target segments has also been provided.
Important growth prospects of the Connected Logistics market in several countries such as Germany, the UK, France, Spain, Italy, BENELUX, Russia and the rest of Europe are included in this chapter.
This chapter provides the growth scenario of the connected logistics market in East Asian countries such as China, Japan, and South Korea.
This chapter highlights the growth of the Connected Logistics market in the South Asia & Pacific region by focusing on India, ASEAN, Australia, New Zealand, and the rest of South Asia & Pacific. This section also help readers understand key factors that are responsible for the growth of the connected logistics market in the South Asia & Pacific region.
This chapter provides information about how the connected logistics market is anticipated to grow in major countries in the MEA region, such as GCC countries, South Africa, Turkey, and the rest of MEA, during the forecast period of 2019-2029.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the connected logistics market, along with the detailed information about each company. This includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Bosch, SAP SE, IBM Corporation, Intel Corporation, Infosys Ltd, Cisco among others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the connected logistics market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the connected logistics market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Sales Executives
- Technical Advisors
- Connected Logistics Providers
- End-user Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near Term and Long Term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity of Assumptions
- Company White Papers
- Annual Reports and Investor Presentations
- Research Papers
- Company Press Release
- Government Websites and Publications
Primary Interview Splits