Tokyo, Japan, May 11, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), "Connected Logistics Market: By Software, By Platform and Forecast till 2030”, the market is predicted to thrive substantially during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 18.33% to attain a valuation of around USD 71.1 Billion by the end of 2030.
The connected logistics market is growing at a rapid pace, mainly due to the proliferation of connected vehicles. The automotive industry is undergoing a major shift, embracing new mobility concepts that rely heavily on software, connectivity, and artificial intelligence. Resultantly, the demand for capabilities that can meet modern digital business needs is growing too.
Changing government mandates for the development of safe, connected cars, electric vehicles, and autonomous vehicles boosts the market size. By 2022, all new vehicles are expected to be connected to the internet. There is significant value in using data from connected vehicles to derive insights and intelligent solutions for various stakeholders in the mobility ecosystem. Subsequently, recent upgrades in connected logistics foster the market valuation.
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Market Research Future (MRFR) states that the global connected logistics market is expected to witness significant gains by 2030, registering an impressive CAGR throughout the review period (2022 – 2030). Additionally, the rising demand for smarter mobility by organizing trillions of data points for vehicles globally, across multiple brands, makes & models, and then standardizing & enhancing those streams of data on a vast scale pushes the market growth.
Players leading the global connected logistics market include,
- 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)
- Siemens (Germany).
Connected Logistics Market Report Scope:
| Report Metrics | Details |
| Connected Logistics Market Size by 2030 | USD 71.1 Billion (2030) |
| Connected Logistics Market CAGR during 2022-2030 | 18.33% |
| Base Year | 2021 |
| Forecast | 2020-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Drivers | Innovation in technology is also expected to enhance the application of connected logistics. These factors are foreseen to drive the connected logistics market growth across the region in the upcoming years. |
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Competitive Analysis
Fiercely competitive, the connected logistics market witnesses a large presence of notable players. Players focus on product development and incorporate strategic approaches, such as collaboration, mergers & acquisitions, product launch, and expansion to gain a larger competitive share. They make substantial investments to drive R&D for the development of required technologies and expansion.
Segments
The connected logistics market analysis is segmented into technology, application, connectivity, and region. The technology segment is sub-segmented into Wi-Fi, Bluetooth, 4G/LTE and 5G. The application segment is sub-segmented into navigation and telematics.
The sub-segment navigation is further bifurcated into road & vehicle monitoring, real-time data capturing & management. The sub-segment telematics is further bifurcated into in-car, car-to-car, and car-to-infrastructure.
The connectivity segment is sub-segmented into tethered connectivity, integrated connectivity, and embedded connectivity. By regions, the market is sub-segmented into the Asia Pacific, Americas, Europe, and rest-of-the-world.
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Geographical Analysis
North America leads the global connected logistics market. The largest market growth attributes to the increasing adoption of the internet of things and automobile companies in the US and Canada in this region. Moreover, the rising efforts of automakers in discovering new technologies to eliminate accidents and give a safe journey experience influence the region’s market share.
Large technological advances and the presence of various connected mobility solution providers in the region influence the market growth. Besides, the futuristic infrastructure in the region drives the market growth, bringing about advanced connected mobility platforms.
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Europe stands second in the global connected logistics market. The market is driven by rising technical expertise and enormous investments in developing technologies and integrated connectivity and embedded connectivity. Additionally, rapid advances in digital technology and increasing demand for connected logistics positively impact regional market growth.
The Asia Pacific connected logistics market is emerging as a promising market globally. Factors such as the augmenting demand for connected logistics from the automotive sectors and increasing adoption of smart & electric vehicles among people drive the regional market growth. Connected logistics markets in China, Japan, and India are growing exponentially, increasing the overall share of the regional market.
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