05-Aug-2021 | Zion Market Research
Some of the key players operating in the video analytics are IBM, AT&T Inc., Eurotech S.P.A, ORBCOMM, Infosys, Cisco Systems, Intel Corporation, Zebra Technologies, SAP, SecureRE, GT Nexus, HCL Technologies ltd., and Robert Bosch GmbH among others. These players are set to bolster the development of connected logistics market.
According to analysts at Zion Market Research, The global connected logistics market accounted for USD 22.1 Billion in 2020 and is expected to reach USD 128.5 Billion by 2028, growing at a CAGR of 24.8% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Connected Logistics Market by Software (Streaming Analytics, Network Management, Security, Data Management, Warehouse IoT, Asset Management, Warehouse Control System and Others), by Verticals (Food & Beverages, Pharmaceutical & Healthcare, Chemical, Aerospace & Defence, Telecom & IT, Retail, Energy & Gas and Others) by Transportation mode (Seaway, Airway, Railway and Roadway), by Service (Consulting service, Professional service, Integration & Deployment, Support & Maintenance and Managed Services) and by Platform (Device Management, Application Management and Connectivity Management): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Increasing Adoption of IoT and cloud-based solutions In Supply Chain to Spur Market Growth
The market for connected logistics is expected to grow tremendously in forecasted period attributable to the increasing adoption of IoT and sensor-based technologies such as RFID in different domains, including the supply chain Management system. Also, the rising demand for cloud-based solutions and internet ubiquity around the world is driving the market, which help in management of products by tracking goods and movement of planes, trucks and ships which carry them. The growing need for reduction in stock and ease in product handling is anticipated to augment the market over the forecasted years. Companies from numerous sectors are focusing on opting for various connected logistics services to utilize their inventory in a proficient manner to provide just-in-time delivery services. As a result, the demand for connected logistics services and platforms for proficient management of operations at distribution centres has increased.
Presence of Big Players in The Region Support North American Dominance
With the largest share, North America was a leading regional market for connected logistics market in 2020 followed by Europe. The growth of this region is mainly attributed to increasing demand for transportation and retail industry verticals. Asia Pacific is expected to grow with the highest CAGR during the analysis period. This is due to the adoption of Internet of Things (IoT) in various industrial and business operations is expected to open new avenues for the connected logistics market over the coming years.
Browse the full “Connected Logistics Market by Software (Streaming Analytics, Network Management, Security, Data Management, Warehouse IoT, Asset Management, Warehouse Control System, and Others), by Verticals (Food & Beverages, Pharmaceutical & Healthcare, Chemical, Aerospace & Defense, Telecom & IT, Retail, Energy & Gas, and Others) by Transportation Mode (Seaway, Airway, Railway, and Roadway), by Service (Consulting Service, Professional Service, Integration & Deployment, Support & Maintenance, and Managed Services) and by Platform (Device Management, Application Management, and Connectivity Management): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/connected-logistics-market
The global Connected logistics market is segmented as follows:
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