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Global Connected Logistics Market to
Witness 33% CAGR during 2017 – 2023


Global Connected Logistics Market

According to a new market research report Global Connected Logistics Market Size,
Share, Development, Growth and Demand Forecast to 2023 - Industry Insights by
Software (Asset Management, Warehouse Internet of Things (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 and Gas, Healthcare and Pharmaceuticals, IT and Telecom,
Automotive and Others) published by P&S Market Research, the global connected
logistics market is projected to reach $73,864.1 million by 2023, growing at a CAGR of
33.0% during 2017 - 2023.
Browse Report Description at: https://www.psmarketresearch.com/market-


Global Connected Logistics Market

Global connected logistics market to reach
$73,864.1 million by 2023
The study reveals that the global connected logistics market is likely to
reach $73,864.1 million by 2023. Due to significant growth in technologies
such as IoT, advancement in big data analytics, and real time monitoring,
the global connected logistics market is gaining traction.

Global Connected Logistics Market

Insights on market segments
As per the findings of the research, asset management has been the largest
software market in the global connected logistics market. Among various platforms,
application management witnessed the highest growth in demand from 2014 to
2016 and this segment is expected to continue leading the growth of the market
during the forecast period. Retail industry has been the highest user of connected
logistics market. However, the market is expected to witness fastest growth in
demand from IT and telecom industry, during the forecast period.

Global Connected Logistics Market

The market to witness fastest growth in AsiaPacific during the forecast period
Geographically, North America has been the largest market for connected logistics,
whereas Asia-Pacific is expected to witness the fastest growth among all the
regions, during the forecast period. The expected growth can be owed to factors
such as growth of digitalization, advancement in new technologies, growth in retail
industry, and increasing adoption of connected technologies by major logistics
providers in the region. Further, due to rapid technological advancements in supply
chain management and improvement in technology infrastructure, the region has
high tendency to adopt connected logistics solution at a rapid scale in near future.

Global Connected Logistics Market

Professional service becomes the larger connected
logistics market globally
Professional service has been the larger contributor to the global connected
logistics market. Professional services are required during and after successful
implementation of connected logistics system in every industry. The services are
offered through specialists or professionals for supporting various critical business
operations. Factors such as expert consulting, seamless system integration, on-time
support and services, reduced resource loss, and overall effective logistics
management have been driving the demand for professional services in the global
connected logistics market.

Global Connected Logistics Market

Growth in IoT bolsters the global connected logistics
market growth
The factors driving the growth of the global connected logistics market include
significant growth in IoT, decreasing cost of communication devices, increasing need
for logistic operational efficiency, and adoption of smart devices globally.
Technological advancements have led to low cost, smarter and better
communication devices. These devices, providing ease of connectivity, are being
implemented across industries, including transportation and logistics, to improve
operational efficiency through effective data communication. With the advent of
internet connections and development of advanced communication technologies,
new logistic solutions are improving the overall efficiency of freight transportation,
warehouse operations and end delivery.

Global Connected Logistics Market

Increased adoption of smart devices, such as smartphones, and usage of cloud
computing are also impacting the global connected logistics market. With increasing
customer expectations, industries such as retail and consumer goods are focusing to
streamline their manufacturing to consumer product flow through new
technologies. Connected logistics allow the end customers and logistic providers to
adjust their supply chains in case of delayed shipments or order cancellations. The
demand for on-time and real-time tracking is also a factor driving the global
connected logistics market growth. With immense development in IoT and related
technology, logistic providers are rendering connected logistics applications to
monitor and track the entire supply chain in real-time through sensors and
connected devices anywhere and at any time. This further helps them in enhancing
operational productivity and ensuring faster and safer delivery.

Global Connected Logistics Market

Moderate competition among key players in the
global market
The research states that the global connected logistics market is moderately
competitive with players developing new connected logistics approach. Some of the
key players in the connected logistics ecosystem are AT&T, Inc., IBM Corporation,
Intel Corporation, SAP SE, Infosys Limited, Cisco Systems Inc., HCL Technologies
Limited, and Cloud Logistics.
Most of the vendors prevailing in the global connected logistics market are actively
participating in organic and inorganic strategies. Many of them are entering
strategic partnership to help the industries such as retail, healthcare, and
manufacturing in operational transformation, while others are enhancing their
capabilities for rich connected logistics offerings.

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