Global connected logistics market: Overview
Enterprise network mostly for logistics which supports hub operators and various others to monitor and manage traffic both inside as well as towards the hub is called as connected logistics. Connected Logistics technology can be defined as interconnected devices that today’s IoT solution providers and logistics render to boost the operating efficiency of many logistics tasks. Few connected logistics technologies such as warehouse management, fleet management tracking, monitoring, transportation, and other associated logistics operations, include order processing, financial transactions, dispatching, and shipping. In addition, connected logistics also establish communication among all parties involved although they don’t have direct connectivity. Apart from this, connected logistics also reduces emissions and environmental harms and delivers real-time information into the progress of transportation & logistics industry. Sensors and Connected devices are installed in movable containers and storage facilities so that it would be helpful to monitor and provide real-time information to supply chain management team. The data generated from these connected devices are large in size which requires the technologies such as RFID, sensors, bar codes and GPS
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IoT (Internet of Things) is highly helpful for the connected logistics market as follows:-
Better asset management by emphasizing real-time product issues
Decrease in fuel costs by monitoring of fleet routes
Improved inventory management by reducing out-of-stock states.
Deeper insight into customer behavior and product usage.
Global connected logistics market: Drivers and Restraints
The key driving factors for global connected logistics market are the rapid rate of internet of things components including sensors, growing demand for cloud-based solutions and RFID and Internet ubiquity across the globe. Also, big data and analytics platform are another major factors which are driving the global connected logistics market. The macroeconomic factors which drive the global connected logistics market are changing the lifestyle of consumers, emerging economy and rapid rate of smart cities in emerging countries such as China, Brazil, and India. The growth of the global connected logistics market is also supported by the introduction of new application and cloud base solutions for the transportation and management of products, include tracking of goods, and movement of plane, trucks, and ship which carry them, and those products are connected with sensors. The key restraining factors of global connected logistics market are security issues, owing to rising cybercrime and network connectivity issues.
Global connected logistics market: Segmentation
Global connected logistics market can be segmented based on end-use industry, transportation mode, software, platform, service, and region.
Global connected logistics market can be segmented on the end-use industry as follow:-
BFSI (Banking Financial Services and Insurance)
Retail and consumer packaged goods
telecom, media, and entertainment
Travel & Hospitality
Energy, resources, and utilities.
Global connected logistics market can be segmented on transportation mode as follow:-
Global connected logistics market can be segmented by service type as follow:-
Deployment and Integration service
Support and maintenance
Global connected logistics market can be segmented by software type as follow:-
Remote asset tracking
Building automation system
Warehouse control system
Monitoring control management system
Inventory management system
Global connected logistics market can be segmented by platform type as follow:-
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Global connected logistics market: Segmentation Overview
Global connected logistics market segmentation is done by end use industry includes BFSI, retail and consumer packaged goods, telecom, media and entertainment, Manufacturing and much more. Among these mentioned end-use industry, retail and consumer packaged goods are estimated to witness a positive growth over the forecast year in the global connected logistics market. Asset management is estimated to account highest market share over the forecast year in connected logistics market across the globe.
Global connected logistics market: Regional Outlook
Based on the geographies, Global connected logistics market is segmented into seven regions – Eastern Europe Western Europe, North America, Latin America, Asia-Pacific excluding Japan, Japan, and Middle East & Africa. Among the regions as mentioned above, North America accounts for the largest market share followed by Western Europe for global connected logistics market. Asia Pacific is estimated to gain the highest CAGR in the global connected logistics market.