Meticulous Research®, a premier global market research firm, announces the release of its comprehensive report, “Connected Logistics Market by Offering, Transportation Mode (Roadways, Railways), Application (Inventory Tracking, Real-Time Fleet Management, and others), End User (Automotive, Healthcare & Pharmaceuticals, and Others), and Geography—Global Forecast to 2029.” This detailed study provides a forward-looking analysis of the connected logistics market, which is projected to experience substantial growth through 2029.
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Market Growth and Projections
According to the report, the connected logistics market is anticipated to grow at a robust compound annual growth rate (CAGR) of 11.5% from 2022 to 2029, reaching a valuation of $57.75 billion by 2029. This growth is primarily driven by the increasing demand for efficient warehouse management and the widespread adoption of technologies such as IoT, cloud computing, and advanced analytics across various industries. Despite this positive outlook, the market faces challenges including a lack of standardization and data security concerns. However, emerging opportunities in blockchain technology and expanding applications in developing regions are set to drive further growth.
Market Segmentation and Insights
The report segments the connected logistics market by offering, transportation mode, application, and end-use industries:
• Offering: The market is divided into solutions and services. In 2022, the solutions segment is expected to dominate due to the growing need for real-time inventory tracking and monitoring. Conversely, the services segment is forecasted to experience the highest CAGR, fueled by the increasing demand for real-time operational visibility and proactive problem-solving.
• Transportation Mode: Segmented into roadways, railways, airways, and maritime, the roadways segment is projected to hold the largest market share in 2022. This is attributed to advancements in road safety, infrastructure development, and government initiatives. The roadways segment is also expected to see the highest growth rate throughout the forecast period.
• Application: The report identifies inventory tracking as the leading application segment in 2022, driven by the benefits of IoT-powered solutions in inventory management. However, end-to-end delivery tracking is poised for the highest growth, thanks to innovations that integrate multiple supply chain stages into cohesive platforms.
• End-Use Industries: The market is segmented into automotive, healthcare & pharmaceuticals, retail & e-commerce, and others. The retail & e-commerce sector is predicted to lead in market share in 2022, supported by infrastructure improvements and a rise in online shopping. The automotive sector is expected to grow at the highest CAGR, driven by the need for enhanced visibility and risk management in automotive logistics.
Regional Analysis
Geographically, North America is projected to hold the largest share of the connected logistics market in 2022, driven by public safety initiatives, traffic congestion management, and the development of smart cities. However, the Asia-Pacific region is expected to exhibit the fastest growth rate due to substantial investments in megacity projects and ongoing modernization of transportation networks.
Key Market Players
The report profiles leading companies in the connected logistics market, including:
• International Business Machines Corporation (U.S.)
• SAP (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 (Noida)
• Infosys Limited (Bengaluru)
• Eurotech S.p.A. (Italy)
• Microsoft (U.S.)
• Siemens (Germany)
• Oracle (U.S.)
• Zebra Technologies Corp. (U.S.)
• Cloud Logistics (U.S.)
• NEC Corporation (Japan)
• Accenture (Ireland)
• Sigfox (France)
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