Connected Logistics Market Size, Trends, Share Analysis, Size And Forecast To 2033

The connected logistics market size has grown rapidly in recent years. It will grow from $24.84 billion in 2023 to $28.33 billion in 2024 at a compound annual growth rate (CAGR) of 14%. The growth in the historic period can be attributed to globalization, the emergence of IoT, demand for real-time visibility, advancements in cloud computing, and integration of big data analytics.

The connected logistics market size is expected to see rapid growth in the next few years. It will grow to $48.31 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to the adoption of blockchain technology, the proliferation of autonomous vehicles, the increasing focus on sustainability, the rise of predictive analytics, and the expansion of smart cities. Major trends in the forecast period include enhanced cybersecurity measures, growth of edge computing, increased use of robotics and automation, expansion of 5G networks, and rise of digital twins.

Market Overview -
Connected logistics refers to the integration of various technologies such as IoT sensors, data analytics, and cloud computing to optimize and streamline the processes involved in the transportation, storage, and distribution of goods. It enables real-time tracking, predictive maintenance, and efficient resource management throughout the supply chain network.

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Increasing IoT Devices Drive Growth In Connected Logistics Market
The increasing exposure of IoT connecting devices is expected to propel the connected logistics market going forward. Internet of Things (IoT) refers to the network of interconnected devices that can communicate and exchange data over the Internet. It is driven by the growing demand for interconnectedness, efficiency, and automation across various industries and daily activities. IoT connecting logistics devices enable real-time shipment tracking, optimize route planning, monitor vehicle conditions, enhance inventory management, and streamline supply chain operations, leading to increased efficiency, reduced costs, and improved customer satisfaction. For instance, in November 2022, according to a report published by Ericsson, a Sweden-based telecommunications company, IoT connections worldwide were projected to amount to 15.7 billion connections in 2023. Moreover, the number is projected to reach nearly 38.9 billion in 2029 at a growth rate of 16%. Therefore, the increasing exposure of IoT connecting devices is driving the growth of the connected logistics market.

Competitive Landscape -
Major companies operating in the connected logistics market are Microsoft Corporation, AT&T Inc, DHL International GmbH, Robert Bosch GmbH, FedEx Corporation, Huawei Technologies, Amazon Web Services, Siemens, Intel Corporation, Accen*ture, International Business Machines Corporation, Cisco System Inc., Oracle Corporation, Honeywell International Inc., SAP SE, TATA Consulting Services Ltd, NEC Corporation, Nippon Express Co. Ltd., Infosys Limited, HCL Technology Limited, Xpo Logistics Inc., Hexagon AB, Senko Group Holdings Co., Ltd, Yusen Logistics Co. Ltd., Trimble, Orbcomm, Eurotech Group, Freightgate Inc.

Cloud-Based Solutions Revolutionizing Connected Logistics to Streamline Global Supply Chains
Major companies operating in the connected logistics market are focused on developing advanced solutions such as cloud-based services, to enhance global supply chain efficiency. It plays a crucial role in connected logistics by providing scalable, accessible, and centralized platforms for data storage, processing, and analysis, facilitating real-time decision-making and collaboration across the supply chain. For instance, in December 2023, Fujitsu Limited, a Japan-based information and communications technology equipment and services provider, launched a cloud-based logistics data standardization and visualization service for shippers, logistics firms, and supply chain vendors, providing innovative tools to promote sustainability, tackle challenges such as driver shortages, carbon emissions reduction, and compliance with industry regulations. This service offers automated data conversion to comply with logistics information standard guidelines, functions to connect, transform, and store various logistics data, and visualization and analysis tools through logistics KPIs. The new service aims to facilitate inter-company collaboration, optimize the supply chain, and address challenges such as driver shortages and reducing energy consumption through shared vehicle use.

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Key Segments -
The connected logistics market covered in this report is segmented -
1) By Component: Hardware, Solutions, Services
2) By Transportation: Roadways, Railways, Airways, Maritime
3) By Application: Inventory Tracking, Optimized Warehousing, Real-Time Fleet Management, Predictive Maintenance, Cargo Integrity Monitoring, End-To-End Delivery Tracking, Other Applications
4) By End-Use Industries: Automotive, Healthcare And Pharmaceuticals, Oil And Gas, Food And Beverage, Aerospace And Defense, Manufacturing, Information Technology (IT) And Telecommunication, Retail And E-Commerce, Other End-Use Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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