Smart Logistics Market: Introduction

Increasing technological advancements and demand for advanced services and systems have resulted into the introduction of technologies such as IoT, smart solutions, Big Data analytics, etc. Integration of these technologies have assisted in enhancing the overall output of various processes. One such integration of these technologies with logistics, with an intention of enhancing the overall efficiency associated with the logistic processes has resulted into smart or connected logistics.

The smart logistics market has witnessed significant traction since its inception and, is furthermore, expected to witness a double digit growth during the forecast period, owing to the increasing demand for automated logistic systems globally.

Smart Logistics Market: Dynamics

The increasing adoption of smart devices, Big Data analytics, cloud computing and IoT has enabled a connected environment, which as a result has enhanced the tracking and management processes. These factors are, thus, expected to be the key drivers for the growth of the global smart logistics market. Besides, the increasing demand and adoption of RFID technology for enhancing the tracking processes is also expected to be a factor impelling the growth of the smart logistics market, in terms of value. Advantages associated with smart logistics such as enhanced supply chain management, elimination of complexities associated with processes such as communication, freight management, cost-effectiveness, warehousing and distribution, etc., are also expected to drive the demand for smart logistics globally. Additionally, the initiatives taken by the government for enabling a connected environment is also expected to drive the adoption of smart logistics.

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However, lack of infrastructure and slow technological development in some of the underdeveloped countries for enabling a connected environment, challenges the implementation of smart logistics, and thus, acts as a restrain for the growth of the global smart logistics market.

Smart Logistics Market: Segmentation

The global smart logistics market can be segmented on the basis of components, industry vertical, and regions.

Segmentation of the Smart Logistics Market by Services:

Hardware
Software
Services
Professional Services
Managed Services

Segmentation of the Smart Logistics Market by Industry Verticals:

Oil and Gas
Power and Energy
Aviation and Marine
Military and Defense
Manufacturing
Retail
Automotive
Chemicals
Food and Beverages
Others

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Smart Logistics Market: Key Players

Examples of some of the key players operating in the smart logistics market are AT&T Intellectual Property, IBM Corporation, Intel Corporation, SAP SE, Cisco Systems, Oracle Corporation, Freightgate Inc., Arkessa, Bosch Connected Devices and Solutions GmbH, Honeywell International Inc., and Orbcomm Inc., among others.