Connected Logistics Market to Rise at 24.7% CAGR till 2026; Driven by the Increasing Adoption of IoT and AI in Transportation Systems

The global connected logistics market size is projected to reach USD 82.14 billion by 2026. Technological advancements have played a key role in the advancements in connected logistics systems. According to a report published by Fortune Business Insights, titled “Connected Logistics Market Size, Share & Industry Analysis, By Component (Hardware, Solutions, Services), By Transportation Mode (Roadway, Railway, Airway, Seaway), By Vertical (Manufacturing, Automotive, Food and Beverages, Consumer Goods and Retail, Oil & Gas, Travel and Hospitality, Healthcare and Pharmaceuticals, and Others) and Regional Forecast, 2019-2026,” the market was worth USD 14.49 billion in 2018 and will exhibit a CAGR of 24.7% during the forecast period, 2019-2026.

Connected logistics is an interconnected platform that helps derive real-time data and analytics. it is an IoT-integrated system that helps render higher efficacies in business operations and is used by major businesses across the world. The use of advanced technologies such as the AI and IoT will allow improved product efficacies, subsequently leading to a wider product adoption across the world. Massive investments are being made towards the integration of connected logistics as well as for developing newer systems associated with the concept. The availability of connected logistics with a higher degree of precision, security, and interoperability will contribute to the growth of the market in the forthcoming years.

Intel’s Latest Connected Logistics Platform is Deriving Allocates from Across the World; Product to Have a Positive Impact on Market Growth

The report highlights a few of the major industry developments of recent times and states their impact on the global market. The high investment in the development of newer products has yielded a few exceptional products in recent years. Accounting to the massive potential held by connected logistics, several companies are focused on introducing newer products. IN December, Intel announced the launch of ‘Intel Connected Logistics Platform’. The company claims that it’s latest product is a cost-effective system that is integrated with IoT solutions and will help monitor the location of user assets, even in harsh environments.

To Get the detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/connected-logistics-market-102414

Increasing Adoption and Subsequent Demand for High-tech Vehicles to Aid Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. The emergence of high-tech vehicles has played a massive role in the widespread adoption as well as demand for connected logistic systems. Moreover, the benefits offered by autonomous trucks and vehicles and their ability to deliver in a shorter span of time will contribute to the growth of the market in the coming years. The increasing trade activities have also opened up a huge potential for the companies operating in the connected logistics market.

HCL and Zebra Technologies Among the Leading Companies in the Market

With a bid to establishing a stronghold in the market, several large scale companies are looking to acquire smaller and medium enterprises. Due to the recent success of company mergers by major businesses, medium enterprises are encouraged to invest towards acquiring smaller firms. A few of the leading companies that are operating in the global connected logistics market are:

• AT&T Intellectual Property
• Robert Bosch GmbH
• Cisco Systems, Inc.
• Freightgate Inc.
• HCL Technologies Limited
• Honeywell International Inc.
• IBM Corporation
• Infosys Limited
• Intel Corporation
• NEC Corporation
• One Network Enterprises
• ORBCOMM
• SAP SE
• SIGFOX
• Zebra Technologies Corp

Further Report Findings:

The report analyses the ongoing connected logistics market trends across five major regions:

• North America (Highest Market Share)
  • 2017: USD 3.96 billion
  • 2018: USD 4.71 billion
• Latin America
• Europe (Second Largest Market)
• Asia Pacific (Fastest CAGR)
• Middle East and Africa

The market is segmented on the basis of:

• Component
• Transportation Mode
• Vertical

Industry Developments:

January 2020 – Trimble announced that it has signed an agreement for the acquisition of Kuebix. Through this acquisition, the company will look to enhance its transportation technology portfolio.

The global connected logistics market is segmented on the basis of: