Global Connected Logistics Market

Connected Logistics Market Size, Share, Growth Analysis, By Component(Hardware, Software), By Transport Mode(Roadways, Railways) - Industry Forecast 2024-2031

Report ID: SQMIG45F2087 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 64 | Figures: 77

Connected Logistics Market News

  • In April 2024, in a significant development for India’s logistics sector, GR Logistics Park (Indore) Private Limited (GRIP), a subsidiary of G R Infraprojects Ltd. (GRIL), and PSA Ameya (PSA), a subsidiary of PSA India, have formalised an agreement to establish an Inland Container Depot (ICD) at the Multimodal Logistics Park (MMLP) in Indore. 
  • In January 2024, Apkudo, a supply chain automation provider for connected devices, acquired Mobile reCell. By combining Mobile reCell’s recovery solutions with Apkudo’s portfolio of services, the company is set to create new standards in the connected device supply chain. 
  • In October 2023, Airport Authority Hong Kong (AAHK) – operator of Hong Kong International Airport (HKIA) – signed an agreement with China’s Dongguan Port Group to establish a joint venture for the development of a novel sea-air intermodal transshipment facility. HKIA Dongguan Logistics Park will be the world’s first sea-air intermodal transshipment site in which a logistics park is directly connected to an airport’s airside environment.
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Connected Logistics Market size was valued at USD 30.32 billion in 2022 and is poised to grow from USD 34.97 billion in 2023 to USD 109.53 billion by 2031, at a CAGR of 15.34% during the forecast period (2024-2031).

The existence of numerous multinational and local businesses has led to the linked logistics market's intense competition and fragmented structure. To stay competitive and strengthen their market position even more, all of the key market players are concentrating on developing new products. 'Cisco Systems Inc. (United States)', 'IBM Corporation (United States)', 'SAP SE (Germany)', 'Oracle Corporation (United States)', 'Intel Corporation (United States)', 'Huawei Technologies Co., Ltd. (China)', 'Siemens AG (Germany)', 'Amazon Web Services, Inc. (United States)', 'Microsoft Corporation (United States)', 'Google LLC (United States)', 'Accenture PLC (Ireland)', 'DHL International GmbH (Germany)', 'FedEx Corporation (United States)', 'UPS (United Parcel Service, Inc.) (United States)', 'Deutsche Post AG (Germany)', 'Honeywell International Inc. (United States)', 'General Electric Company (United States)', 'Zebra Technologies Corporation (United States)', 'Cognizant Technology Solutions Corporation (United States)', 'JDA Software Group, Inc. (United States)', 'Qualcomm Technologies, Inc. (United States)', 'ABB Ltd. (Switzerland)'

One of the primary drivers of the connected logistics market is the growing demand for real-time visibility across the supply chain. Connected logistics solutions enable companies to track and monitor the movement of goods, assets, and vehicles in real-time. This helps in improving operational efficiency, reducing delays, optimizing routes, and enhancing overall supply chain visibility.

Connected logistics solutions leverage advanced analytics tools to process and analyze large volumes of data generated across the supply chain. Predictive analytics algorithms enable companies to anticipate demand patterns, optimize inventory levels, and identify potential disruptions. Real-time data combined with predictive insights enables proactive decision-making and enhances overall supply chain responsiveness.

In 2022, the market was most successful in North America. The availability of a highly developed infrastructure for rail and road connectivity can be credited with the region's progress. Furthermore, the region can be anticipated to contribute the most revenue to the market during the projected period due to the presence of important players in the sector. Modern infrastructure facilitates the quicker adoption of contemporary technologies. Because of the emergence of new technologies, rising working capital, and explosive growth of the e-commerce industry, the U.S.

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Global Connected Logistics Market

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