Connected Logistics Market Analysis By Component(Hardware, Software, Services), By Transport Mode(Roadways, Railways, Airways, Waterways), By Application(Inventory Tracking, Optimized Warehousing, Real-Time Fleet Management, Predictive Maintenance, Cargo Integrity Monitoring, End-to-end Delivery Tracking), By Industry Vertical(Retail & E-commerce, Automotive, Aerospace & Defense, Healthcare, Energy, Electronics & Semiconductors) & Forecast 2024-2035
- PUBLISHED ON
- 10/11/2022
- NO OF PAGES
- 220
- CATEGORY
- Retails & Consumer
The global connected logistics market size was valued at US$ 31,654.55 million in 2023, and anticipated to grow at a CAGR of 13.9 % over the forecast period. Connected logistics has changed the way logistical operations are carried out so that they are more focused on the needs of the customer by sharing data, information, and facts with supply chain partners. Connected logistics uses a network of interconnected communication systems, cloud platforms, and Internet of Things (IoT) technology to boost the productivity of logistical operations.
Furthermore, it is often described as a collection of interconnected devices that logistics service providers utilise to get a better understanding of order processing, financial transactions, shipping, and other logistical activities including warehousing, transportation, and other value-added logistics services. The growing popularity of online shopping among consumers and the development of technology are some of the factors propelling the market's expansion. The demand for these solutions is being driven by the expanding availability of connected logistics systems with strong interoperability, security, and accessibility characteristics.
Additionally, the need for connected logistics goods and solutions is being driven by the need to lower the cost of shipping and storage services. Intelligent transportation systems are expected to grow to be considerably more necessary. The target market is expected to benefit financially from improved adoption of logistics 4.0 and continued efforts to enhance autonomous logistics vehicles during the projected period. One of the key reasons influencing the expansion of the intended market is the decreasing cost of loT sensors and connected logistics hardware. The market's expansion is, however, considerably constrained by the logistics industry's growing security and safety concerns.
Covid-19 Impact
The global economy was impacted by the COVID-19 epidemic. National lockdowns were announced by governments all around the globe in order to prevent the infection's spread. The production facilities were either completely shut down or operated at a reduced capacity in order to maintain social distance and to guarantee worker safety. The supply chain was disrupted across industrial verticals due to a lack of manpower and raw materials, and trade in the majority of industries ceased. The pandemic had an effect on several industries, including logistics.
The adoption of technology like the internet of things (IoT), automation, and robotics in the logistics industry has been hastened by the pandemic, though. Tracking cargo and vehicles demands these technologies. A move from electronic data to app-based interfaces with cloud integration has also occurred, making it possible for logistics companies to link with e-commerce platforms. For instance, 90% of respondents in a survey by Inmarsat, a pioneer in mobile satellite communications, stated that the Covid-19 outbreak had expedited the adoption of the Internet of Things (IoT). In terms of growth rate, the market had a modest downturn in 2020. However, as the use of technology increased in importance following the epidemic, the market began to grow.
Component Insights
By component, the global connected logistics market is classified into hardware, software, and services. In 2022, the hardware segment dominated the market, and throughout the forecast period, it is anticipated to grow at the highest CAGR. The sensors category is expected to gain a sizable market share due to the growing desire to track assets. Moreover, IoT-based connected sensor technology helps to maintain temperature stability, cut down on food waste, and increase supply chain visibility.
Transportation Mode Insights
In terms of transportation mode, the global connected logistics market is segmented into roadways, railways, airways, and waterways. The roadways segment held the major market share in 2022 and is projected to grow at a higher CAGR through the forecast period. The demand for road-based transportation to convey retail items over large distances, especially for last-mile delivery, can be attributed to the segment's growth. In addition, this transportation method also has a high carrying capacity, which makes it a popular option for logistics. The increased efforts being made by governments all over the world to promote road travel are also driving the market sector to grow.
Industry Vertical Insights
In terms of industry verticals, the retail and e-commerce segment dominated the market in 2022. Connected logistics solutions are used by the retail industry to fulfil the rising business demands. IoT solutions help connected logistics increase reliability, which is in line with the interests of the retail and e-commerce sectors.
Regional Insights
In terms of region, North America dominated the market in 2022. The presence of a highly developed infrastructure in terms of rail and road connectivity can be attributed to the growth of the region. Also, the presence of major companies in the sector enables the region to dominate the global market in terms of revenue contribution during the forecast period. The ability to quickly implement technologies is made feasible by modern infrastructure. The United States is expected to continue to hold a dominant position over the anticipated time due to the development of new technologies, expanding working capital, and the explosive growth of the e-commerce sector.
Furthermore, during the course of the forecast, Asia Pacific is anticipated to grow at the fastest CAGR. In terms of investment and growth, the Asia Pacific is anticipated to have a faster rate of economic growth than other regions and to become the centre of all logistical activity. Furthermore, over the course of the projected period, regional growth is anticipated to be fuelled by increased transportation technological breakthroughs and expanding investment in megacity initiatives. The connected logistics market is bolstering significantly due to the region's booming manufacturing and e-commerce sectors.
Key Companies Insights
Some of the major companies studied under the market scope are as follows: Intel Corporation, Infosys Limited, Cisco System Inc, HCL Technology Limited, IBM Corporation, SAP SE, ORBOCMM, Freightgate Inc, Honeywell International Inc, NEC Corporation and Others. The existence of several companies on a global and regional scale creates intense rivalry for major players operating in the ecosystem. These players also use a variety of strategies, including merger and acquisition, the introduction of new products, geographic expansion, R&D for increasing their product portfolio, and others.
In 2022, C.H. Robinson and Waymo entered into a new strategic partnership to look into connected logistics solutions using autonomous driving vehicles.
Segments
By Component
· Hardware
o RFID Tags
o Sensors
o Communication Devices
o Tracking Devices
o Others
· Software
o Warehouse Management
o Fleet Management
o Freight transportation management
o Asset Tracking and management
o Data Management and Analytics
o Others
· Services
o Consulting
o Integration and Deployment
o Support & Maintenance
o Managed Services
By Transport Mode
· Roadways
· Railways
· Airways
· Waterways
By Industry Vertical
· Retail & E-commerce
· Automotive
· Aerospace & Defense
· Healthcare
· Energy
· Electronics & Semiconductors
· Others
Global Connected Logistics Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Connected Logistics market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Global Connected Logistics Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.
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• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Historic Year: 2016-2022
Forecast: 2024-2035
1. Global Connected Logistics Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Connected Logistics Market Scope and Market Estimation
1.2.1.Global Connected Logistics Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2032)
1.2.2.Global Connected Logistics Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2032
1.3. Market Segmentation
1.3.1.Component of Global Connected Logistics Market
1.3.2.Transport Mode of Global Connected Logistics Market
1.3.3.Application of Global Connected Logistics Market
1.3.4.Industry Vertical of Global Connected Logistics Market
1.3.5.Region of Global Connected Logistics Market
2. Executive Summary
3. Market Factor Analysis
3.1. Global Connected Logistics Market Industry Trends under COVID-19 Outbreak
3.1.1.Global COVID-19 Status Overview
3.1.2.Influence of COVID-19 Outbreak on Global Connected Logistics Market Industry Development
3.2. Market Dynamics, By Region
3.2.1.Drivers
3.2.2.Limitations
3.2.3.Opportunities
3.2.4.Impact Analysis of Drivers and Restraints
3.3. Ecosystem / Value Chain Analysis
3.3.1.Raw Materials / Component Suppliers
3.3.2.Manufacturers / Vendors
3.3.3.Distributors
3.3.4.Buyers / End-users
3.3.5.Forward Integration & Backward Integration of Key Stakeholders
3.4. Global Connected Logistics Market - Pricing Trends Analysis & Average Selling Prices (ASPs)
3.5. End-users / Customer Preferences & Consumer Surveys
3.6. Technology Roadmap & Key Innovations /Developments
3.7. Key Mandates & Regulatory Scenario Analysis
3.8. Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
3.9. Porter’s Five Forces Analysis
3.9.1.Bargaining Power of Suppliers
3.9.2.Bargaining Power of Buyers
3.9.3.Threat of Substitutes
3.9.4.Threat of New Entrants
3.9.5.Competitive Rivalry
3.10. PEST Analysis
3.10.1. Political Factors
3.10.2. Economic Factors
3.10.3. Social Factors
3.10.4. Technological Factors
3.11. SWOT Analysis
3.12. Russia-Ukraine War Impacts Analysis
3.13. ANSOFF Matrix
3.13.1. Market Penetration Strategy
3.13.2. Product Development Strategy
3.13.3. Market Development Strategy
3.13.4. Diversification Strategy
3.14. Inflation Impacts Analysis
3.14.1. Supply Side Impacts
3.14.2. Demand Side Impacts
3.14.3. Outlook in 2023 & Beyond
3.15. Market Investment Feasibility Analysis
3.16. Opportunity Map Analysis
3.17. Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
4. Global Connected Logistics Market Estimates & Historical Trend Analysis (2019 - 2022)
5. Global Connected Logistics Market Estimates & Forecast Trend Analysis, by Component
5.1. Global Connected Logistics Market Revenue (US$ Mn) Estimates and Forecasts, by Component, 2019 to 2032
5.1.1.Hardware
5.1.1.1. RFID Tags
5.1.1.2. Sensors
5.1.1.3. Communication Devices
5.1.1.4. Tracking Devices
5.1.1.5. Others
5.1.2.Software
5.1.2.1. Warehouse Management
5.1.2.2. Fleet Management
5.1.2.3. Freight transportation management
5.1.2.4. Asset Tracking and management
5.1.2.5. Data Management and Analytics
5.1.2.6. Others
5.1.3.Service
5.1.3.1. Consulting
5.1.3.2. Integration and Deployment
5.1.3.3. Support & Maintenance
5.1.3.4. Managed Services
6. Global Connected Logistics Market Estimates & Forecast Trend Analysis, by Transport Mode
6.1. Global Connected Logistics Market Revenue (US$ Mn) Estimates and Forecasts, by Transport Mode, 2019 to 2032
6.1.1.Roadways
6.1.2.Railways
6.1.3.Airways
6.1.4.Waterways
7. Global Connected Logistics Market Estimates & Forecast Trend Analysis, by Application
7.1. Global Connected Logistics Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2032
7.1.1.Inventory Tracking
7.1.2.Optimized Warehousing
7.1.3.Real-Time Fleet Management
7.1.4.Predictive Maintenance
7.1.5.Cargo Integrity Monitoring
7.1.6.End-to-end Delivery Tracking
7.1.7.Others
8. Global Connected Logistics Market Estimates & Forecast Trend Analysis, by Industry Vertical
8.1. Global Connected Logistics Market Revenue (US$ Mn) Estimates and Forecasts, by Industry Vertical, 2019 to 2032
8.1.1.Retail & E-commerce
8.1.2.Automotive
8.1.3.Aerospace & Defense
8.1.4.Healthcare
8.1.5.Energy
8.1.6.Electronics & Semiconductors
8.1.7.Others
9. Global Connected Logistics Market Estimates & Forecast Trend Analysis, by Region
9.1. Global Connected Logistics Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2032
9.1.1.North America
9.1.2.Europe
9.1.3.Asia Pacific
9.1.4.Middle East & Africa
9.1.5.South America
10. North America Connected Logistics Market: Estimates & Forecast Trend Analysis
10.1. North America Connected Logistics Market Assessments & Key Findings
10.1.1. Connected Logistics Market Introduction
10.1.2. Connected Logistics Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
10.1.2.1. By Component
10.1.2.2. By Transport Mode
10.1.2.3. By Application
10.1.2.4. By Industry Vertical
10.1.2.5. By Country
10.1.2.5.1. The U.S.
10.1.2.5.2. Canada
10.1.2.5.3. Mexico
11. Europe Connected Logistics Market: Estimates & Forecast Trend Analysis
11.1. Europe Connected Logistics Market Assessments & Key Findings
11.1.1. Connected Logistics Market Introduction
11.1.2. Connected Logistics Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
11.1.2.1. By Component
11.1.2.2. By Transport Mode
11.1.2.3. By Application
11.1.2.4. By Industry Vertical
11.1.2.5. By Country
11.1.2.5.1. Germany
11.1.2.5.2. U.K.
11.1.2.5.3. France
11.1.2.5.4. Italy
11.1.2.5.5. Spain
11.1.2.5.6. Russia
11.1.2.5.7. Rest of Europe
12. Asia Pacific Connected Logistics Market: Estimates & Forecast Trend Analysis
12.1. Asia Pacific Market Assessments & Key Findings
12.1.1. Connected Logistics Market Introduction
12.1.2. Connected Logistics Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
12.1.2.1. By Component
12.1.2.2. By Transport Mode
12.1.2.3. By Application
12.1.2.4. By Industry Vertical
12.1.2.5. By Country
12.1.2.5.1. China
12.1.2.5.2. Japan
12.1.2.5.3. India
12.1.2.5.4. Australia
12.1.2.5.5. South Korea
12.1.2.5.6. ASEAN
12.1.2.5.7. Rest of Asia Pacific
13. Middle East & Africa Connected Logistics Market: Estimates & Forecast Trend Analysis
13.1. Middle East & Africa Market Assessments & Key Findings
13.1.1. Connected Logistics Market Introduction
13.1.2. Connected Logistics Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
13.1.2.1. By Component
13.1.2.2. By Transport Mode
13.1.2.3. By Application
13.1.2.4. By Industry Vertical
13.1.2.5. By Country
13.1.2.5.1. U.A.E.
13.1.2.5.2. Saudi Arabia
13.1.2.5.3. Egypt
13.1.2.5.4. South Africa
13.1.2.5.5. Rest of Middle East & Africa
14. South America Connected Logistics Market: Estimates & Forecast Trend Analysis
14.1. South America Market Assessments & Key Findings
14.1.1. Connected Logistics Market Introduction
14.1.2. Connected Logistics Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
14.1.2.1. By Component
14.1.2.2. By Transport Mode
14.1.2.3. By Application
14.1.2.4. By Industry Vertical
14.1.2.5. By Country
14.1.2.5.1. Brazil
14.1.2.5.2. Argentina
14.1.2.5.3. Colombia
14.1.2.5.4. Rest of South America
15. Competition Landscape
15.1. Connected Logistics Market Competition Index, By Leading Players
15.2. Connected Logistics Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants
15.3. Connected Logistics Market Competition White Space Analysis, By Application / End-users
15.4. Connected Logistics Market Competition Heat Map Analysis, By Products / Services / Solutions
15.5. Connected Logistics Market Competition Regional Intensity Map Analysis, By Geographies Served
15.6. Connected Logistics Market Concentration & Company Market Shares (%) Analysis, 2022
16. Company Profiles
16.1. IBM Corporation
16.1.1. Company Overview & Key Stats
16.1.2. Financial Performance & KPIs
16.1.3. Product / Service / Solutions Portfolio & Applications / End-uses
16.1.4. Business Strategy & Recent Developments
* Similar details would be provided for all the players mentioned below
16.2. Robert Bosch GmbH
16.3. Cisco Systems, Inc.
16.4. Freightgate Inc.
16.5. HCL Technologies Limited
16.6. Honeywell International Inc
16.7. Infosys Limited
16.8. Intel Corporation
16.9. NEC Corporation
16.10. One Network Enterprises
16.11. ORBCOMM
16.12. SAP SE
16.13. SIGFOX
16.14. Zebra Technologies Corp
16.15. Others**
17. Research Methodology
17.1. External Sources / Databases
17.2. Internal Proprietary Database
17.3. Primary Research
17.4. Secondary Research
17.5. Assumptions
17.6. Limitations
17.7. Report FAQs
18. Research Findings & Conclusion
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