Global Connected Logistics Market: Market Segments: By Software (Asset Management, Warehouse IoT, Security, Data Management, Network Management and Streaming Analytics); By Platform (Device Management, Application Management and Connectivity Management);By Service (Professional Service and Managed Service); By Transportation Mode (Roadways, Railways, Airways and Waterways); By Industry Vertical (Food and Beverage, Retail, Manufacturing, Oil & Gas, Healthcare and Pharmaceuticals, IT & Telecom, Automotive and Others); and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
Connected Logistics can be described as different interconnected devices that can be used by Internet of Things solution providers in order to improve the operational efficiency of many logistics activities. This is done by sharing with the supply chain partners relevant data, logistical knowledge, and past evidence. These technologies include surveillance, warehouse management, tracking of transport fleet management, as well as related logistics activities such as shipping, financial transactions, processing of orders, and shipping. Linked logistics is also useful because it creates coordination between all parties, often without direct connectivity. Connected logistics technology can also be described as interconnected devices created by today's suppliers of logistics and IoT solutions to improve the operational efficiency of different logistics operations.
Due to the rapid increase in the adoption of advanced technologies such as IoT in transport and logistics, the advancement of big data analytics, and real-time monitoring globally, a substantial increase in demand for connected logistics is expected. In addition, substantial progress in supply chain management is driving the global Connected Logistics Market growth.
Global Connected Logistics Market is segmented by software as Asset Management, Warehouse IoT, Security, Data Management, Network Management, and Streaming Analytics. The greater market share in 2018 was accounted for by the asset management software segment and is expected to see the highest growth during the forecast period as it is primarily based on data protection, which is the logistics companies' primary need. As an extremely connected framework is offered by IoT solutions, data protection solutions ensure that all data is secure. Rising data theft and data tampering events have urged businesses to buy security solutions, causing them to expand at a high pace relative to other software’s.
Global Connected Logistics Market is segmented by Service into Professional and Managed. The greater market share in 2018 was accounted for by the managed segment and is expected to lead in terms of market share during the forecast period. Market services are intended to allow smart and organized decision-making processes and to mitigate the risks and vulnerabilities of the Internet of Things (IoT) using effective tools and techniques in logistics. In addition, these services develop data processing strategies and help to fulfill the end-to-end requirements of all verticals.
Global Connected Logistics Market is segmented by Industry Vertical into Food and Beverage, Retail, Manufacturing, Oil & Gas, Healthcare and Pharmaceuticals, IT & Telecom, Automotive, and Others. The greater market share in 2018 was accounted for by the Retail segment in the connected Logistic Market. The vertical retail & consumer goods will be the immediate connected logistics customer, mainly attributable to the e-Commerce industry's top-line development. With the high presence of digital distribution platforms, customer behavior has changed. This forces retail and consumer goods companies to reshape their underlying operating models with related logistics in order to keep pace with the ever-changing market and consumer demand.
The evolution of the Internet of Things (IoT) and associated connected technologies has brought massive growth in the field of transport and logistics. In addition, ongoing technological developments have led to low-cost, more intelligent, and better communication devices. To boost operational efficiency through efficient data communication, these devices, offering ease of connectivity, are being deployed across industries, including transportation and logistics. With major IoT and related technology advances, logistics providers are making connected logistics apps to track and monitor the entire supply chain in real-time, anywhere and at any time, through sensors and connected devices.
Sensors have led to high growth opportunities in the connected logistics industry, the expansion of the Internet, and the rising affordability of IoT services such as RFID. Big data and analytics systems contribute equally to the increasing growth of the industry. This is also helped by the emergence of modern technological advances such as wearable devices, which are very cost-effective embedded sensors. In addition, ongoing technological developments have led to low-cost, more intelligent, and better communication devices. To boost operational efficiency through efficient data communication, these devices, offering ease of connectivity, are being deployed across industries, including transportation and logistics.
Issues such as improvement in performance, service availability, and utilization through mobile devices can be addressed by asset management software to help freight and infrastructure managers. The lack of awareness about the benefits and hesitation of accepting new technological developments is hampering the growth. Also, the various regional regulatory compliances and ambiguity in a clear definition of sea and air borders hampers the growth of the Global Connected Logistics Market size.
Global Connected Logistics Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Connected Logistics Market in North America held the largest market share of XX.X% in the year 2018. Over the next decade, revenue from the linked logistics industry in North America will almost triple. As an early adopter and producer of digital technologies, the region continues to generate substantial overall returns for stakeholders. In addition, at the end of the forecast era, the U.S. represents the most lucrative development opportunities. Asia Pacific (APAC) also represents investment opportunities due to the rapid penetration of technology to boost logistics and traceability of goods. Influenced by an inflating customer base, businesses in the area are rapidly adopting linked logistics to boost time and cost-efficiency.
Global Connected Logistics Market, which is highly competitive, consists of several major players such as AT&T, Inc., IBM Corporation hold a substantial market share in the Global Connected Logistics Market. Other players analyzed in this report are Intel Corporation, SAP SE, Infosys Limited, Cisco Systems Inc., HCL Technologies Limited, and Cloud Logisticsamong others.
Key players are adopting inorganic growth strategies such as product launches in the global nutritional supplement market. For instance, in In January 2017, Intel worked with Honeywell to develop an IoT-based retail industry approach that would focus primarily on improving the quality of the supply chain and rising profitability by improving product visibility. Tracking, monitoring, and protected access for moving goods will be integrated into the newly built solution. The challenge, therefore, is to increase inventory accuracy and improve customer service.
Global Connected Logistics market segments:
By Transportation Mode:
By Industry Vertical:
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