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Connected logistics market Demand, Industry Size, Top Players, Opportunities, Sales, Revenue and Regional Forecast To 2027

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Shweta Raj
Connected logistics market Demand, Industry Size, Top Players, Opportunities, Sales, Revenue and Regional Forecast To 2027

Global Connected Logistics Market: By Software (Asset Management, Warehouse management system, Security), By Platform (Application Management, Device Management, Connectivity Management), By Transportation Mode (Roadways, Railways, Airways, Waterways) –Forecast till 2027

Overview

Connected logistics is an independent set of devices, joints, and internet of things (loT) that are used for communication. It is used to share data, information, and facts with the supply chain partners. Increasing demand for loT devices, sensor-based technologies like RFID in various domains include supply chain management systems boosting the growth of the global Connected logistics market. The adoption of advanced technologies such as big data and advanced analytics is increasing the adoption of logistics 4.0. The data collected from logistics can be converted into crucial insights using artificial intelligence that will help the businesses to improve their planning.

The adoption of cloud-based solutions, RFID, and internet access across all the regions in the globe is driving the growth of the Connected logistics platform market. Also, the introduction of new cloud-based solutions and applications for the transportation sector of products, that include tracking the goods and movement of planes, ships, and trucks, boosting the market growth. Other factors such as changing in the lifestyle of the people, increasing economics, and rapid rate of growth in smart cities technology are also some major drivers of the global Connected logistics market.

The Connected logistics market research report highlights the market is expected to grow at a CAGR rate of 17.5% in the forecast period. The global Connected Logistics market was estimated at USD 10.4 billion in 2026. The vehicle process has so many benefits across various Industries across the globe. Growing need for vehicles in the sectors of healthcare, food & beverage, pharmaceuticals, and manufacturing. The movement of goods and products driving the Connected logistics platform market. The Increasing cost of fuels and environmental pollution are increasing people to switch from traditional methods towards loT-enabled connected logistics solutions.

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Market segmentation

The Connected logistics services market is divided on the basis of technology, device, region, and component. The technology segment of the connected logistics services market includes Bluetooth, cellular, NFC, satellite, and Wi-Fi.

The device segment of the connected logistics platform market includes gateways, sensor nodes, RFID tags. The region segment of the market includes regions such as North America, Europe, Asia Pacific, and other regions in the world. The component segment of the connected logistics services market is further divided into hardware, services, and solutions. Among these, the solutions segment had the highest market share in 2018, and it is expected to grow more in the forecast period.

Regional overview

The Connected logistics market research report analyzes major regions in the market such as North America, Europe, Asia Pacific, and other regions on the globe. North America has the highest share in the market during the forecast period in 2018. The rapid adoption of connected logistics solutions and advanced technology such as machine learning, loT, cloud-based solutions, data analysis, deep learning is boosting the market growth in this region. Europe has the second-highest market share, and it is expected to grow with a great CAGR rate during the forecast period.  The demand of the logistics industry in this region is driving the growth. The increasing transportation of government and private sectors also boosting the growth. The Asia Pacific region is showing faster growth in the market due to improvements in technology, sensors, and automation technology.

Industry news

According to the Connected Logistics market research report, Covid-19 had a negative impact on the market. Covid-19 pandemic affected the global economy, and Industries across the world are suffering from it. In many industries, production work is at a halt due to the lockdown. In this case, the connected logistics devices can’t be produced by the Industries that are causing a decrease in the demand. The key players of the market are trying to grow the demand of the market. It is expected that the market will start to grow after the post-covid situation.

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