Connected Logistics Market is Estimated to Increase at an Impressive CAGR of 11.5% over the Forecast Period 2022-2029

November 16, 2022November 16, 2022 ankush

FID tags are being adopted more widely as a result of the increased demand for efficient supply chain management. As a result, the connected logistics market is expanding. By the end of 2029, FMI predicts that the market for linked logistics will be worth more than US$47.6 billion.

“To manage inventory and lower operating costs, the logistics sector is embracing technology like artificial intelligence. Key players also use this technology to optimise supply routes, manage networks, and forecast demand. The FMI analysis indicates that artificial intelligence has improved the efficiency of the entire logistics industry.

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Key Takeaways of Connected Logistics Market Study

While software segment will be in high demand, devices continue to be preferred by consumers across the globe.
Roadways will continue to be the preferred mode of transportation through 2029.
Retail & consumers industry remains the key end-use area of connected logistics market.
North America remains lucrative connected logistics market in view of ongoing digitization process.

Connected Logistics Market – Key Growth Factors

Increasing adoption in manufacturing sector is supporting the growth of connected logistics market.
Technological advancements in logistics industry such as blockchain technology and Internet of Things are bolstering the market growth.
Preponderance of digital sales channels continues to shape the connected logistics market.
Rapid tech penetration in Asia Pacific is boosting the regional connected logistics market.
Need for real-time data and tracking precise location is pushing the growth of connected logistics market.

Connected Logistics Market – Key Restraints

Dynamic competitive structure of connected logistics market presents critical challenges for market leaders.
Data security issues associated with cloud-based technologies is limiting the growth of connected logistics market.

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Competitive Landscape

Global connected logistics market is fragmented in nature. Prominent stakeholders profiled in this FMI study include, but are not limited to, Cisco, Infosys Ltd., Intel Corporation, IBM Corporation, SAP SE, and Bosch. Off-highway Vehicle (OHV) and Radio-frequency Identification (RFID) continue to be prioritized by market players.

Moreover, enhanced customer retention, personnel safety and better stock are key focus areas of industry leaders. Software component will offer lucrative growth opportunities for key players through the forecast period.

Key Segments of Connected Logistics Industry Survey

Connected Logistics Market by Component:

Connected Logistics Devices
- Vehicle Telematics
- Data Loggers
- GPS Tracking Devices
- RFID Tags
Connected Logistics Software
- Fleet Management
- Asset Tracking
- Security Solutions
Connected Logistics Services
- Consulting
- Integration & Deployment
- Support & Maintenance

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Connected Logistics Market by Transportation: