Brooklyn, New York, July 26, 2021 (GLOBE NEWSWIRE) -- According to a new market research report published by Global Market Estimates, the Logistics Monitoring Solutions Market will grow with a CAGR value of around 12.5 percent over the forecast period [2021 to 2026].
Logistics Monitoring Solutions provide an effective product and service offering to enhance transportation and storage activities. International trade expansion and the introduction of advanced automated solutions related to asset management, warehouse management, security, and networking will proliferate the industry expansion. Another prospect in the industry is the rising need to optimize operations and attain cost optimization.
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Security and networking will witness the highest growth
Security and networking solutions will witness the highest growth, due to the rising necessity to improvise product safety and internal & external communication. In the logistics industry, it is very essential to have an upgraded communication network to enhance the operation.
Pharmaceutical & Healthcare gaining high attention
As of now, the industry is gaining high demand from pharmaceutical & healthcare companies. The increasing need to control and manage the stock & facility due to rising importation and exportation activities will support the penetration in this segment. The global industry is facing a huge improvement and upgrdation in the medical sector to avoid unforeseen mismanagement in the industry.
APAC dominated the regional share
Asia Pacific Logistics Monitoring Solutions Market, led by China and India dominated the regional industry share. The presence of large-scale manufacturing facilities, retail industry, and automotive manufacturing are the key success factors to drive regional demand. Also, the increasing trend to adopt automated processing tools to optimize operations is another reason to induce demand.
Product customization and recognition will be prime strategies
The global industry share is partially fragmented in nature as few companies hold their dominance in the international market. However, the presence of a large number of providers makes the market not fully consolidated. Product and services awareness programs along with hands-on training are notable steps taken by the industry participants.
Key notable players include SAP, IBM, Oracle, Infosys, AT&T, Intel, Honeywell, HCL Technologies, Eurotech S.P.A, Cloud Logistics, Freightgate, ORBCOMM, Cloud Logistics, WebXpress, Digilogistics, Blue Yonder, Ramco Systems, Logisuite, Impinj, ICAT Logistics, Magaya, Intersec, Samsung Sds, Hexaware, Advantech, and Tech Mahindra.
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Offering Outlook (Revenue, USD Million, 2019-2026)
- Hardware
- Software
Type Outlook (Revenue, USD Million, 2019-2026)
- Storage
- Transportation
Solution Outlook (Revenue, USD Million, 2019-2026)
- Asset Management
- Warehouse Management
- Security
- Network Management
- Others
Industry Vertical Outlook (Revenue, USD Million, 2019-2026)
- Manufacturing
- Retail
- Oil & Gas
- Pharmaceutical & Healthcare
- Telecom & IT
- Automotive
- Food & Beverage
- Aerospace & Defence
- Chemicals
- Others
Regional Outlook (Revenue, USD Million, 2019-2026)
North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
Middle East & Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
Website: Global Market Estimates