Research Nester published a report titled “Connected Logistics Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global connected logistics market in terms of market segmentation by component, technology, transportation mode, verticals, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global connected logistics market is anticipated to grow with a CAGR of 19.77% during the forecast period, i.e., 2021-2030. The market is segmented by component into software, hardware, and services, out of which, the software segment is anticipated to garner the largest revenue of USD 41914.64 Million by the end of 2030. Moreover, in the year 2020, the segment registered a revenue of USD 7956.08 Million.
The global connected logistics market is estimated to garner a revenue of USD 110610.52 Million by the end of 2030, up from a revenue of USD 22532.08 Million in the year 2020. Surge in need amongst the business organizations in the transportation and logistics industry to improve the global supply chain connectivity, followed by the increasing adoption of information technology in the transportation industry, and the surge in the adoption of sensor-based technologies are some of the major factors anticipated to drive the growth of the market in the coming years.
Geographically, global connected logistics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in the Asia Pacific is anticipated to garner the largest revenue of USD 39390.40 Million by the end of 2030. Moreover, in the year 2020, the market in the region generated a revenue of USD 7322.93 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Surge in the Adoption of Internet of Things (IoT) to Drive the Market Growth
By the end of 2030, the total number of active IoT devices is expected to surpass 25 Billion, up from close to 10 Billion devices in the year 2021.
Businesses worldwide are increasingly adopting information technology solutions to optimize their existing process efficiency and also to reduce operational costs. With similar perspectives, the business organizations in the transportation and logistics industry are increasingly using IoT devices to enhance transparency in their operational processes and also help their customers reduce wastes generated during the process of the transportation of goods. Such a factor is anticipated to drive the growth of the market in the coming years.
However, the lack of proper infrastructure in several developing economies, concern for data security, and the lack of uniform government regulations are expected to operate as key restraint to the growth of global connected logistics market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global connected logistics market which includes company profiling of AT&T Inc., IBM Corporation, Intel Corporation, SAP SE, Infosys Limited, Cisco Systems Inc., HCL Technologies Limited, ORBCOMM Inc., EUROTECH S.p.A., Freightgate Inc., YUSEN LOGISTICS CO., LTD., Nippon Express Co, Ltd., SENKO Group Holdings Co., Ltd., XPO Logistics, Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global connected logistics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.