Connected logistics benefits in improving and establishing interactions with companions involved in the logistics system by enabling hub administrators to observe inward and outward transportation. This enables more transparency and enhanced efficiency.
The market of supply chain and logistics is significantly affected by connected networks or Internet of Things and these have heavily impacted the economies of various countries on the basis of trade, exports and logistics. Also, the advancement in the information technology. The IoT is able to generate a huge amount of data and information which is stored and analyzed to churn out detailed insights regarding the logistics market. Due to analytics, connected logistics, at present will change the supply chain operations. The market is driven by various factors that include real time monitoring and analysis. This also includes some of the applications of predictive maintenance.
The foremost reason behind this is the growth of the cloud solutions- a service offered by the vendors across the globe. Retail and healthcare areas are anticipated to gain best advantages from connected logistics solutions. Retail is likely to grow at highest CAGR. The retail industry has employed the connected logistics resolutions to address their enterprise requirements.
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On the basis of regional analysis, the market is segmented into North America, Europe, Asia Pacific and rest of the world. Among these regions, North America is dominating the market of connected logistics and is expected to continue leading the market during forecast period. Whereas, Europe region claims the second spot in this market. However, there is expected a higher market growth rate during the forecast period in Asia Pacific. This growth is majorly due to rising population, and growing number of manufacturing base.
Major Key Players
The prominent players in the global connected logistics market are AT&T Inc. (U.S.), SAP SE (Germany), Eurotech S.P.A (Europe), ORBCOMM (U.S.), IBM Corp. (U.S.), Cisco System Inc. (U.S.), Intel Corporation (U.S.), HCL Technology Limited (India), Freightgate Inc. (U.S.), Cloud Logistics (U.S.), Infosys Limited (India), Amazon Web Services(U.S.), Huawei Technologies (China), Accenture (Republic of Ireland), and Siemens (Germany), among others are profiled in Market Research Future analysis and are at the forefront of competition in the global connected logistics market. The global Connected Logistics market is highly competitive. Technology giants such as Siemens AG (Germany), AT&T Inc. (U.S.), SAP SE (Germany), and others provide solutions required for connected logistics such as software as well as advising, deploying, and supporting services to connected logistics platform. Siemens had plans to start its global logistics headquarter including its portfolio of airports, cargo infrastructure, and port in the emirates. The prominent vendors and new entrants are investing research and development to innovate and expand their present product portfolio.
Global Connected Logistics Market is expected to grow at a CAGR of approximately 22% during the forecast period 2017-2023.
The global connected logistics market is segmented by software, platform, transportation mode, and vertical. Issues such as development in-service such as performance, availability, and utilization by mobiles can be approached by asset management system software to improve freight and infrastructure supervisors. Henceforth, asset management system software is foreseen to be the highest shareholder in the connected logistics market. Solutions powered by the use of IoT and RFID technologies help industries to address the critical challenge which is assuring product transportation promptly to the consumer.
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