The market for linked logistics is expected to grow from its current value of US$ 22.2 billion in 2022 to US$ 47.6 billion by the end of 2029. Over the projection period, demand for connected logistics is anticipated to grow at an excellent CAGR of 11.5%. (2022-2029).
| Connected Logistics Market Size (2022) | US$ 22.2 Bn |
| Predicted Net Worth (2029) | US$ 47.6 Bn |
| Global Market Growth Rate (2022-2029) | 11.5% CAGR |
| Roadways Market Share | 41.4% |
The majority of freighting operations, which make up a significant portion of logistics and supply chains, are conducted on roads, which dominate the connected logistics sector. Currently, 10% of the revenue generated by the global supply chain management business comes from connected logistics.
“Logistics industry is incorporating technologies such as Artificial Intelligence to manage inventory and reduce operational costs. Moreover, key players utilize this technology to manage networks, optimize delivery routes and to predict demand. Artificial Intelligence has helped streamline the entire logistics ecosystem,” concludes the FMI report.
Key Takeaways of Connected Logistics Market Study
- While software segment will be in high demand, devices continue to be preferred by consumers across the globe.
- Roadways will continue to be the preferred mode of transportation through 2029.
- Retail & consumers industry remains the key end-use area of connected logistics market.
- North America remains lucrative connected logistics market in view of ongoing digitization process.
Connected Logistics Market – Key Growth Factors
- Increasing adoption in manufacturing sector is supporting the growth of connected logistics market.
- Technological advancements in logistics industry such as blockchain technology and Internet of Things are bolstering the market growth.
- Preponderance of digital sales channels continues to shape the connected logistics market.
- Rapid tech penetration in Asia Pacific is boosting the regional connected logistics market.
- Need for real-time data and tracking precise location is pushing the growth of connected logistics market.
Connected Logistics Market – Key Restraints
- Dynamic competitive structure of connected logistics market presents critical challenges for market leaders.
- Data security issues associated with cloud-based technologies is limiting the growth of connected logistics market.
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Competitive Landscape
Key Segments of Connected Logistics Industry Survey
Connected Logistics Market by Component:
- Connected Logistics Devices
- Vehicle Telematics
- Data Loggers
- GPS Tracking Devices
- RFID Tags
- Connected Logistics Software
- Fleet Management
- Asset Tracking
- Security Solutions
- Connected Logistics Services
- Consulting
- Integration & Deployment
- Support & Maintenance
Connected Logistics Market by Transportation:
- Connected Logistics for Roadways
- Connected Logistics for Railways
- Connected Logistics for Airways
- Connected Logistics for Seaways
Connected Logistics Market by Vertical:
- Connected Logistics in Manufacturing
- Connected Logistics in IT & Telecom
- Connected Logistics in Automotive
- Connected Logistics in Retail & Consumer Goods
- Connected Logistics in Food & Beverages
- Connected Logistics in Healthcare
- Connected Logistics in Energy & Utilities
- Others
Connected Logistics Market by Region:
- North America Connected Logistics Market
- Latin America Connected Logistics Market
- Europe Connected Logistics Market
- East Asia Connected Logistics Market
- South Asia & Pacific Connected Logistics Market
- Middle East & Africa (MEA) Connected Logistics Market
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More about the Report
This Future Market Insights study of 388 pages provides all-inclusive insights on the global connected logistics market. The market analysis is based on component (devices, software, and services), transportation (roadways, railways, airways, and seaways), and vertical (manufacturing, IT & telecom, automotive, retail & consumer goods, food & beverages, healthcare, energy & utilities) across six regions (North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa).
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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