The market research report provides a detailed market segmentation analysis of the Connected logistics market by component (Software and Services), by mode (Roadway, Railway, Waterway, and Airway), by industry (Manufacturing, Automotive, Food and Beverages, Healthcare, Consumer Goods and Retail, and Others), and by region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America). This market research report identifies many companies which includes SAP, Infosys, IBM, Cisco, HCL Technologies, etc. in the connected logistics market.
Overview of the Connected Logistics Market
Infoholic’s market research report predicts that the connected logistics market revenue is estimated to be $14,392.2 million in 2018 and is expected to reach $47,438.0 million by 2024, growing at a CAGR of 22.0% during the forecast period 2018–2024.
According to the connected logistics market analysis, owing to the increasing need to automate all the activities associated in warehouse and transportation of good, connected logistics helps customers to visualize progress of logistics and take actions accordingly.
Connected logistics finds significant interest from the organizations who deal heavily with logistics. The increased usage of sensors and automation by the customers is expected to steer the market growth, both in developed and developing countries. As per the report, the roadway logistics is of focus area for the logistics vendors followed by railways and waterways.
Competitive Analysis and Key Vendors
The connected logistics software vendors are extending its partner ecosystem with capabilities in integration, consulting, reseller, and geographical reach to enhance their software offerings. The connected logistics is expected to enhance the trade management of organizations and track each activity of the goods in transit.
The report contains an in-depth analysis of vendor profiles, which include overviews and offerings, and competitive landscape. The integration capability of the connected logistics software will leverage the capabilities in connecting freight, warehouse, quality, and compliance.
Some of the key vendors in the market are:
- HCL Technologies Ltd
Other companies covered in the report are Cloud Logistics, Freightgate, Orbcomm, Blu Jay Solutions, and Freightos.
The Connected logistics market is categorized based on four segments – component, mode, industry and region.
Segmentation based on component
In 2018, the software segment occupied the largest market share and is expected to have the highest share during the forecast period. The consulting segment in services is expected to have the largest market size during the forecast period to impart knowhow of the benefits and integration capability of the connected logistics to enterprises.
Segmentation based on mode
In 2018, the roadways occupied the largest market share and is expected to grow at a high CAGR during the forecast period. Roadways are the most common mode of transportation as the delivery of products relies on roadways at some stage and vendors are improving the warehouse management and route optimization for smooth roadway connections.
Segmentation based on industry
- Food and Beverages
- Consumer Goods and Retail
In 2018, the consumer goods and retail occupied the largest market share and is expected to continue the same trend during the forecast period and it is expected to grow at a high CAGR during the forecast period due to heavy use of transportation and logistics to replenish FMCG goods is of utmost importance for the industry.
Segmentation based on regions
In 2018, North America accounted for the largest share of the connected logistics market owing to strong economic conditions in the region and enhanced customer experience for the clients. The Asia Pacific region holds good potential for the vendors to improve logistics management and greater traceability to enhance the customer experience for growing customer base of organizations in the region. Organizations in the region are experiencing increase in customers and focused on organized logistics to reduce cost and time.
The study offers a comprehensive analysis of the “Connected Logistics” market bringing out the complete key insights of the industry, the report also aims to provide an opportunity for companies to understand the latest trends, current market scenarios, government initiatives, and technologies related to the market. In addition, it helps the venture capitalists in understanding the companies better and take informed decisions.