DUBLIN, 22 November 2021 / PRNewswire / – The report “Connected Logistics Market – Growth, Trends, COVID-19 Impact and Forecast (2021-2026)” has been added to ResearchAndMarkets.com offer.
The global connected logistics market is expected to register a CAGR of 17.5% during the forecast period (2021-2026). Connected Logistics helps businesses become more customer-centric and efficient by increasing transparency in the business process.
The growing adoption of IoT and sensor-based technologies like RFID in various fields including Supply Chain Management System (SCM) will drive the connected logistics market during the period. forecast.
Advances in future technologies such as Big Data and advanced analytics will act as a catalyst for the adoption of Logistics 4.0. Data collected from smart and connected supply chains and logistics can be converted into actionable insights using AI systems, which will help businesses forecast demand accurately and thus improve planning. capacities.
In addition, the growing demand for cloud-based solutions, RFID and the ubiquity of internet across the world are other factors driving the market. The introduction of new cloud-based applications and solutions for transportation and product management, including tracking of goods and the movement of planes, trucks and ships that transport them. In addition, the macroeconomic factors driving the market are the changing lifestyles of consumers, emerging economies and the rapid rate of smart cities in developing countries such as China, Brazil, and India.
In United States, due to the COVID-19 epidemic, the government has shut down all logistics operations in the country, which has a huge impact on the industry. Connected Logistics market leaders have said that due to this epidemic, the US government has shown more flexibility towards telecommuting and online support. These factors are expected to further stimulate the market during the forecast period.
Growing use of IoT and future technologies in different industries will lead to the adoption of connected logistics
- According to CISCO, global internet traffic from non-PC devices accounted for around 71% of total IP traffic in 2020. Additionally, Machine-to-Machine (M2M) connections will account for half of total connected devices and connections globally. by 2023. In addition, there will be 14.7 billion M2M connections by 2023.
- Verizon recently conducted a survey finding that more than a third of fleet managers who do not use fleet tracking solutions (Fleet tracking solutions are mobile asset tracking solutions primarily suited for trucks and other vehicles). ) say they would expect increased productivity if they implemented the technology.
- The survey also shows that over 53% of companies using asset tracking solutions reported real productivity increases – most respondents reported positive growth in productivity (53% of respondents) and compliance. (52% of respondents).
- Companies like Walmart are using IoT, machine learning, and big data to transform their retail operations and improve their customer experience in a number of ways. The company was one of the first to adopt RFID tags to track their inventory.
Asia Pacific show maximum growth
- The Asia Pacific The region is expected to show robust revenue growth over the forecast period, significantly in developing economies like India and China. Technological improvements, increase in sensors and automation are some of the factors that are expected to drive the growth of the market.
- For example, China is the world’s largest e-commerce marketplace, with over 50% of global e-commerce transactions originating from China. According to Dezan Shira & Associates, the number of digital buyers in China exceeded 634 million in 2020. In addition, from China E-commerce market is expected to be larger than US, UK, Japan, Germany, and France combined. The growth of the e-commerce industry in recent years in China is attributed to the development of Internet infrastructure and the establishment of global logistics networks.
- Singapore began transforming logistics to strengthen its place in the APAC logistics industry by integrating technologies into existing processes. The Singapore the government has already started transforming logistics as part of its $ 4.5 billion Industry transformation agenda. The main objective of the program is to foster excellence in logistics operations and to be leaders in innovation while creating a strong core of local logistics talent and making Singapore attractive for foreign investment. This program is named Logistics Industry Transformation Map (ITM) and follows similar plans for that of Singapore the agrifood and precision mechanics sectors.
The competitive landscape of the global connected logistics market is moderately fragmented owing to the presence of many existing and emerging players in the market. Technological developments in the logistics sector are expected to fuel increased investment and product innovation. Competitors proactively address challenges by crafting strategies that can have the best overall effect on market progress. Growth opportunities in the market have wide scope for development during the forecast period.
- March 2021 – Oracle introduced new updates to its Oracle Fusion Cloud Supply Chain & Manufacturing (SCM) offering, which connects shipper supply networks to an integrated suite of cloud-based business applications.
- The Market Estimate (ME) sheet in Excel format
- 3 months of analyst support
Key topics covered
1.1 Hypotheses of the study and market definition
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market overview
4.2 Assessment of the impact of COVID-19 on the industry
4.3 Market drivers
4.3.1 Growing adoption of IoT in various industries
4.3.2 Adoption of sensor-based technologies
4.4 Market restrictions
4.4.1 Lack of uniform government regulations for smart technologies
4.4.2 Coronavirus outbreak affecting electronics industry
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness – Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By software
5.1.1 Asset management
5.1.2 Warehouse IoT
5.1.4 Data management
5.1.5 Network management
5.1.6 Streaming Analysis
5.2 By product type
5.2.1 Device management
5.2.2 Application management
5.2.3 Connectivity management
5.3 By mode of transport
5.4 By End User Industry
5.4.3 Oil and gas
5.4.4 IT & Telecom
5.4.5 Health care
5.4.6 IT and telecommunications
5.4.8 Food and drink
5.4.9 Other end-user industries
5.5 By geography
5.5.1 North America
5.5.3 Asia Pacific
5.5.4 Rest of the world
6 COMPETITIVE LANDSCAPE
6.1 Company profiles
6.1.1 Bosch Service Solutions GmbH
6.1.2 Cisco Systems, Inc
6.1.3 AT&T Inc.
6.1.4 IBM Corporation
6.1.5 Intel Corporation
6.1.6 SAP SE
6.1.7 Oracle Corporation
6.1.8 Freightgate Inc.
6.1.9 Orbcomm Inc.
6.1.10 HCL Technologies Limited
6.1.11 Honeywell International Inc.
6.1.12 Microsoft Corporation
6.1.13 Siemens AG
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
For more information on this report, visit https://www.researchandmarkets.com/r/6a479q
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SOURCE Research and Markets