Meticulous Research®, a renowned global market intelligence and consulting firm, has released its latest report titled, “Connected Logistics Market by Offering, Transportation Mode (Roadways, Railways), Application (Inventory Tracking, Real-Time Fleet Management, Others), End-User (Automotive, Healthcare & Pharmaceuticals, Others) and Geography – Global Forecast to 2029.” The report projects the global connected logistics market to experience robust growth at a CAGR of 11.5% from 2022 to 2029, reaching an estimated market size of $57.75 billion by 2029.

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The upward trajectory of the connected logistics market is primarily driven by the increasing need for streamlined warehouse management solutions and the rapid integration of IoT, cloud computing, and cutting-edge technologies across various industries. However, the market faces hurdles such as a lack of standardization. Nevertheless, the incorporation of blockchain technology in freight management and expanding opportunities in developing regions present promising growth prospects. Challenges in ensuring secure data management persist, alongside growing concerns over security in data handling.

A notable trend in the connected logistics sector is the increasing emphasis on autonomous vehicles, which continues to transform the logistics landscape.

Comprehensive Market Segmentation

The connected logistics market is comprehensively segmented by offering, transportation mode, application, and end-user industries, providing deep insights at regional and country levels.

Offering: Solutions Lead the Way, Services on the Rise

The market is segmented into solutions and services. In 2022, the solutions segment is anticipated to dominate the market, attributed to the increasing demand for real-time inventory tracking and monitoring solutions that enhance operational efficiency and government-backed initiatives promoting sustainable logistics practices. Solutions that enable real-time visibility into inventory movement, combined with advancements in eco-friendly automobile technologies, are bolstering this segment’s growth.

However, the services segment is poised for the highest growth rate throughout the forecast period, as companies increasingly rely on real-time operational insights to diagnose and address potential challenges before they impact business operations or customer satisfaction.

Transportation Mode: Roadways Set to Dominate

By transportation mode, the market is categorized into roadways, railways, airways, and maritime. In 2022, roadways are expected to account for the largest share of the connected logistics market. The surge in demand for enhanced road safety measures, reduced traffic congestion, and improved infrastructure, backed by significant government investments, is driving growth in this segment. Furthermore, the roadways segment is projected to experience the highest growth rate during the forecast period due to its critical role in enabling more sustainable and efficient logistics operations.

Applications: Inventory Tracking Takes Center Stage

The connected logistics market by application is segmented into inventory tracking, optimized warehousing, real-time fleet management, predictive maintenance, cargo integrity monitoring, end-to-end delivery tracking, and other applications. Inventory tracking is expected to capture the largest market share in 2022, driven by the increasing adoption of IoT-powered solutions that provide comprehensive visibility into inventory movement. These technologies enhance accuracy and minimize human errors by automating the scanning of inbound and outbound inventory items.

However, the end-to-end delivery tracking segment is projected to grow at the highest CAGR during the forecast period. The ability of these solutions to offer integrated, user-friendly dashboards that consolidate multiple stages of supply chain management into a seamless experience is propelling the demand for delivery tracking solutions.

End-User Industries: Retail & E-commerce at the Forefront

The connected logistics market is further segmented by end-user industries, including automotive, healthcare & pharmaceuticals, oil & gas, food & beverage, aerospace & defense, manufacturing, IT & telecommunications, retail & e-commerce, and others. The retail & e-commerce segment is expected to hold the largest share of the market in 2022, fueled by infrastructure development, increased awareness of tech-enabled logistics platforms, and the growing number of online consumers.

Simultaneously, the automotive sector is projected to exhibit the highest growth rate over the forecast period. The automotive industry’s increasing reliance on connected logistics solutions to optimize visibility and risk management across the supply chain is expected to drive substantial growth in this segment.

Geographic Insights: North America Leads, Asia-Pacific to See Rapid Growth

In terms of regional analysis, North America is set to dominate the global connected logistics market in 2022, owing to increasing governmental initiatives aimed at improving public safety, managing traffic congestion, and fostering the adoption of sustainable transportation technologies. The region’s commitment to smart city development is also playing a pivotal role in advancing the connected logistics sector.

Meanwhile, the Asia-Pacific region is expected to experience the fastest growth during the forecast period. The rapid pace of infrastructure development, investment in megacity projects, and ongoing modernization of transportation networks in countries such as China and India are expected to fuel significant growth in this region.

Key Players Shaping the Future of Connected Logistics

The connected logistics market is highly competitive, with several major players vying for market dominance. Key players identified in the market include:

International Business Machines Corporation (U.S.)
SAP SE (Germany)
Intel Corporation (U.S.)
Cisco Systems, Inc. (U.S.)
Freightgate Inc. (U.S.)
ORBCOMM (U.S.)
AT&T Intellectual Property (U.S.)
Honeywell International Inc. (U.S.)
Bosch Service Solutions GmbH (Germany)
HCL Technologies Limited (India)
Infosys Limited (India)
Eurotech S.p.A. (Italy)
Microsoft Corporation (U.S.)
Siemens AG (Germany)
Oracle Corporation (U.S.)
Zebra Technologies Corp. (U.S.)
Cloud Logistics (U.S.)
NEC Corporation (Japan)
Accenture (Ireland)
Sigfox (France)
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