Global Connected Logistics Market: Snapshot
According to the analysts of this fresh business intelligence study, the global connected logistics market is primed for a prosperous future, primarily due to the lack of proper temperature management at most of the storage facilities. Temperature-sensitive products, particularly from the food and beverage sector, require assurance regarding the protection of their products from getting spoiled or wasted. To overcome these issues, connected logistics has emerged as a formidable solution for various organizations, preserving against fluctuations in climate changes as the product is transported from the manufacturing unit to the consumers. For instance, software such as logistic tracking systems and advanced vehicle control systems can relay information pertaining to the real-time position of the vehicle.
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The emerging concept of Internet of Things (IoT) that has the ability to connect devices and make transfer of information an efficient process, is expected to prove to be a boon for the global connected logistics market. In addition to that, growing number of high-end vehicles across the world and ubiquity of smartphones is also in accordance to the connected logistics market.
The global connected logistics market is also gaining traction from decreasing cost of sensors, which are now sophisticated enough to detect even minute changes. In addition to that, persistent need of various vendors to decrease costs by the means of efficient operation network is expected to reflect positively over the market during the forecast period. On the other hand, the lack of a uniform standards of governance of logistic activities, strong need to improve security in various emerging economies, lack of data interoperability and management, and safety concerns are a few challenges the connected logistics market will have to overcome to attain maximum profit.
Global Connected Logistics Market: Overview
Connected logistics is a rewarding discipline of the logistics and warehouse domain that incorporates effective services and solutions for organizations to track their supply chain activities and ecosystem in real time. There are a number of software solutions included in connected logistics, viz. streaming analytics, data management, network management, security, warehouse IoT, and asset management. However, connected logistics is also offered based on vertical, transportation mode, service, and platform.
Rising government initiatives and augmented implementation of IoT and connected devices are deemed to be the prime reasons that organizations are increasingly demanding connected logistics and automated logistics systems. Inflating globalization aggravating the need for leading-edge logistics and transportation infrastructure is also regarded as a vital factor spurring the demand in the global connected logistics market.
Global Connected Logistics Market: Key Trends
With a view to satisfy the need to blunt concerns relating to security and as a result of a high adoption IoT logistics solutions, a growing trend of consumers taking to security solutions is forecasted to show prominence in the world connected logistics market. End users are expected to be allured by the benefit of taking charge of different tasks in the supply chain ecosystem. Warehouse and logistics players could particularly be using connected logistics services and solutions for real-time and proactive monitoring of supply chain activities.
The growth in the global connected logistics market could feel a setback due to security and privacy issues and sparse availability of standardized skills. Nevertheless, connected logistics is proving to be an indispensable and efficient action plan for businesses by consuming minimum resources and allowing optimum production. Across various countries of the world, connected logistics and devices have earned acceptance amongst logistics companies on account of their crucial advantages.
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Global Connected Logistics Market: Market Potential
Huawei Technologies and Deutsche Post DHL Group are looking to tap into the power of IoT for innovative ways to create connected logistics solutions to benefit the supply chain of their customers. The Chinese and German firms will jointly work to offer a broad scale of supply chain solutions for end users making use of industrial-grade IoT infrastructure and hardware. With the help of economical networked devices and sensors, this collaboration is envisioned to dig deep into the high-income IoT market. This will aid end users to optimize and monitor their supply chain in an efficient manner.
Global Connected Logistics Market: Regional Outlook
Developing regions around the globe are prognosticated to make progress at a commanding pace, owing to the soaring adoption of connected logistics solutions and services. However, developed regions such as North America followed by Europe are projected to raise their flags high in the international connected logistics market. Connected logistics is an acceptable and important business strategy as it allows real-time monitoring and tracking of a supply chain. Standing in a strong financial position, North America countries such as Mexico, Canada, and the U.S. are envisaged to significantly invest in supreme quality and innovative connected logistics technologies. The region is foreseen to benefit from the seamless adoption of IoT stimulated by technological developments.
Global Connected Logistics Market: Competitive Landscape
Top vendors such as SAP SE, Intel Corporation, IBM Corporation, Eurotech S.P.A., and AT&T, Inc. are foretold to showcase dominance in the international connected logistics market. Since North America holds a larger consumer base in the world, companies operating therein enjoy a heavy connected logistics investment which gives way to low regulatory burdens and highly skilled labor force to facilitate the flow of goods.
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