The research report “Connected Logistics Market Size, Industry
Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China,
India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa),
Application Growth Potential, Competitive Market Growth & Forecast, 2016 – 2024”,
global Connected Logistics Market forecast to grow at a 30% CAGR from 2016
to 2024.
Connected logistics helps
in establishing, improving interactions between all partners involved in the
logistics network by enabling hub operators to monitor inward and outward
traffic. This results in more transparency and enhanced efficiency. Presence of
business activities across the various regions of globe makes it mandatory for
organizations to opt for advanced infrastructure. Information, which is the
scarcest resource in the business world, can be efficiently and effectively
used with the help of connected logistic systems to redefine production
schedule and logistics. The connected logistics market tries to build the
competitive benefits in world of fierce competition by addressing issues with
technology and speed. It can serve as a potent tool for success in today's
competitive business environment, since responsiveness to customer needs is the
key determinant. An enterprise that caters instantly to the needs of the
customer is the winner.
Issues such as
improvement in service availability, performance, and utilization through
mobile devices can be addressed by asset management software to help freight
and infrastructure managers. Hence, asset management software is expected to
hold the maximum connected logistics market share. Solutions powered with the
use of technologies like IoT and RFID help organizations address the most
crucial challenge which is ensuring product delivery in a timely manner to the
customer.
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Real time vehicle tracking is made easier with the
advent of advanced vehicle control system and tracking system. Real time fast
response to false events can be provided using security software. The software
detects the unauthorized objects possessed by individuals in the transport
vehicles and monitors entry points. Some key users in the connected logistics
market are solution providers, communication equipment providers, government
agencies and authorities, system integrators, M2M, IoT, and general
telecommunications companies, managed service and middleware companies,
Internet identity management, privacy, and security companies.
Internet proliferation and growing affordability of
IoT services like RFID, sensors have led to high growth prospects in the
connected logistics market. Big data and
analytics platform are equally contributing to the rising industry growth. This
is also supported by the proliferation of new technological developments like
wearable devices, embedded sensors. Another major factor is various
technological solutions providing common platforms like M2M communication
systems, platform integration that offers convenience for SCM.
The main objective to use these services for
organizations will be asset management, reduction in fuel costs, fleet route
optimization, better inventory management, compliance management and getting
deeper insights of product usage and customer behavior. The lack of awareness
about benefits and hesitation of accepting new technological developments is
hampering the growth. Also, the different regional regulatory compliances and
ambiguity in clear definition of sea and air borders also hampers the growth of
the connected logistics market size.
Major system segments include monitoring management systems, logistics
management systems, warehouse management systems and security systems.
Technology systems consist of cellular, Wi-Fi, Satellite, ZigBee and NFC. Key
devices include gateways, sensor nodes and RFID tags. Service based
contributing to connected logistics market size include 3PL services,
professional services and system integration. Railways, airways, roadways, and
seaways are classified under transportation modes. The segment leading the
connected logistics market is software services having the highest share and is
expected to continue the dominance.
The main reason behind this is growth of cloud solutions which are
offered to service providers by vendors across the globe. Retail,
pharmaceutical, and healthcare sectors are expected to gain maximum benefits
from connected logistics solutions. Retail will be one of the sectors showing
highest CAGR. Retail sector has used the connected logistics solutions to
address enterprise demands. The quality of shopping experience will be enhanced
using IoT solutions while improving available technology, economic structure,
and environmental change in the interest of the retail industry.
U.S. connected logistics market share was the leading
regional segment in 2015. The APAC also consists of the world’s largest
consumer market which facilitates the flow of goods and less regulatory
burdens. Hence the local players are also adopting new technologies to provide
better solutions. This marks the shift of logistics from conventional
infrastructure to modern methods.
Some of the players are IBM, AT&T Inc., Eurotech
S.P.A, ORBCOMM, Infosys, Cisco Systems, Intel Corporation, Zebra Technologies, SAP,
SecureRE, GT Nexus. Major players in the market are expanding by acquiring new
companies to maintain presence in the growing competitive environment. The
connected logistics market share is also witnessing the collaborations of major
players to provide better technological solutions.
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