Connected Logistics Market Expected to Reach $27,722 Million, Globally, by 2023

According to a new report by Allied Market Research, titled, Connected Logistics Market by Technology, and Devices: Global Opportunity Analysis and Industry Forecast, 2016-2023, the global Connected Logistics market was valued at $ 16,774 million in 2016, and is projected to reach at $ 27,722 million by 2023, growing at a CAGR of 7.60% from 2017 to 2023. Bluetooth and sensor nodes segments possess the maximum growth potential and are expected to create lucrative opportunities for industry players.

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At present, Connected Logistics witness an increased adoption in the developed and the developing regions, owing to technological innovations in product offerings, increased adoption of Logistics 4.0, growth associated with Big Data and Analytics, cloud technologies, surge in demand for connected devices, and increase in application areas among end users. Furthermore, factors such as growth associated with IoT, increase in need for mobility, increased internet penetration, and proliferation of smart devices are expected to provide numerous growth opportunities. However, Connected Logistics implementation issue is expected to restrict the growth of the market during the forecast period.

The Bluetooth segment dominated the Connected Logistics market in 2016, with around 20% revenue share and NFC segment is anticipated to exhibit fastest growth rate. This is attributed to the improved IT infrastructure and increased connectivity-related expenditures.

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The sensor nodes segment dominated the global Connected Logistics market, with around 49% share in 2016, followed by RFID tags segment. Furthermore, RFID tags segment is estimated to grow at the highest CAGR of 9.00%, owing to widespread adoption of advanced solutions and increased IoT spending.

North America was the highest revenue contributor in 2016, accounting for around 42% share. Asia-Pacific is projected to grow at the highest CAGR of 11.0% during the forecast period.

The report features the competitive scenario of the Connected Logistics market and provides comprehensive analysis of the significant growth strategies adopted by major players. The key players operating in the market include SAP, ThingWorx, SecureRF, Oracle, Zebra, Technologies, GT Nexus, IBM, Cisco System, Inc., Eurotech S.P.A., and others.

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Key Findings of the Connected Logistics Market:

• The Bluetooth segment dominated the global Connected Logistics market in 2016.
• The RFID tags, sensor nodes, and Zigbee segments are estimated to provide significant growth opportunities to the key market players.
• The North American market is expected to be dominant, in terms of market size. However, Asia-Pacific and LAMEA are estimated to possess the highest CAGR during the forecast period.

Key Benefits for Stakeholders

The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global Connected Logistics market.
Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets.

Current and future trends adopted by key market players are highlighted to determine overall competitiveness.
The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential.

Connected Logistics Market Key Segments:

By Technology
• Bluetooth
• Cellular
• Wi-Fi
• ZigBee
• NFC
• Satellite

By Devices

• Gateways
• RFID Tags
• Sensor Nodes

Segment Overview

The global Connected Logistics Market is segmented based on technology, device, and region. Technology covered in the study include Bluetooth, Cellular, Wi-Fi, ZigBee, NFC, and Satellite. Varied devices covered in the report are Gateways, RFID Tags, and Sensor Nodes. Based on region, the Connected Logistics market is analyzed across North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Top Impacting Factors

The global Connected Logistics market is influenced by several factors that include increased penetration of IoT & logistics 4.0, increased application areas, increased market for cloud solutions and proliferation of connected devices, growth associated with end-use industries, demand from developing economies, and others. All these factors collectively provide opportunities for Connected Logistics market growth.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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