“According to the SNS Insider report,The Connected Logistics Market Size valued at USD 29.54 billion in 2023, is projected to reach USD 43.68 billion by 2031”
The Internet of Things (IoT) adoption is rising, with a projected 80% of businesses expected to leverage it for supply chain visibility by 2025.
This, coupled with the ubiquity of cloud-based solutions 78% of logistics companies using them in 2023, empowers real-time data collection and analytics. These insights are crucial for optimizing routes reducing fuel consumption by up to 20%, minimizing delays improving on-time delivery rates by 15%, and streamlining warehouse operations. Ultimately, these factors translate into significant cost savings and a competitive edge for logistics players in a market increasingly focused on efficiency and customer satisfaction.
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Major Players Listed in this Report are:
- NEC Corporation
- Cisco System Inc
- Intel Corporation
- Amazon Web Services
- HCL Technology Limited
- Infosys Limited
- Honeywell International Inc
- SAP SE
- IBM Corporation
Security breaches are a major concern, with 43% of logistics companies experiencing cyberattacks in 2023.
This vulnerability stems from the vast network of interconnected devices, each a potential entry point for hackers. Furthermore, a lack of standardized regulations only 28% of countries have comprehensive IoT frameworks creates confusion and hinders widespread adoption. Additionally, integrating legacy systems with new technologies proves difficult for 37% of logistics firms due to compatibility issues.
By leveraging sensor data and AI, 72% of logistics companies could optimize warehouse layouts for improved picking efficiency.
This, coupled with real-time traffic data integration, could lead to a 40% reduction in last-mile delivery times. Furthermore, with the rise of autonomous vehicles, connected logistics platforms can play a crucial role in managing these fleets, with estimates suggesting a potential 25% decrease in operational costs for long-haul transportation.
The hardware segment leads the market in terms of both current share and projected growth rate. It’s broken down into categories like RFID tags, sensors, communication equipment, tracking devices, and others. Sensors are expected to hold a particularly large share of the market due to the increasing need for asset tracking.
Connected Logistics Market Key Segments:
By Component
- Software
- Services
- Hardware
By Transportation Mode
- Roadways
- Railways
- Airways
- Waterways
By Vertical
- Automotive
- Healthcare
- Retail & E-commerce
- Energy
- Aerospace & Defense
- Others
North America leads the connected logistics market, driven by several factors.
Firstly, a mature e-commerce sector, accounting for over 14% of retail sales in 2023, necessitates efficient and transparent logistics solutions. Secondly, strong government support for infrastructure development, particularly in intelligent transportation systems, forces adoption of connected logistics technologies. Thirdly, a high concentration of leading technology providers, like IBM and Oracle, fuels innovation and early integration within the supply chain. Concerns around data security and privacy pose hurdles, with 63% of businesses in the region expressing anxieties.
Competitive Landscape:
- The connected logistics landscape buzzes with activity from a moderately fragmented mix of established and emerging players, each vying for a piece of the digital transformation pie.
- While major tech firms like Intel and Cisco offer comprehensive solutions across transportation modes, niche players are carving out space in specific areas. For instance, security solutions are experiencing a boom growth exceeding 40%, driven by the rising adoption of Internet of Things (IoT) and the inherent concerns around data breaches.
- This emphasis on security reflects a broader market trend – with roughly 25% of the competition focused on services like data management and network analytics.
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Key Takeaways:
- There’s a strong push for cost reduction, with companies seeking solutions that bring down shipping and storage expenses by an estimated 15%.
- The rise of e-commerce and omnichannel retail is driving the need for real-time visibility across the supply chain. This is leading to a rise in inventory tracking solutions, which are expected to hold a dominant market share of around 40% in 2022.
- The dominance of roadways in global logistics isn’t expected to wane anytime soon. Roadways are projected to remain the leading transportation mode utilizing connected logistics solutions, accounting for roughly 60% of the market share in 2022.
Table of Contents – Key Points
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Connected Logistics Market, By Component
- Connected Logistics Market By Transportation Model
- Connected Logistics Market, By Vertical
- Regional Analysis
- Company Profiles
- Competitive Landscape
- Conclusion
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