Meticulous Research®, a globally recognized leader in market intelligence and analysis, has released its latest market report titled “Connected Logistics Market by Offering, Transportation Mode (Roadways, Railways), Application (Inventory Tracking, Real-Time Fleet Management, and More), End User (Automotive, Healthcare & Pharmaceuticals, Others) and Geography—Global Forecast to 2029.” According to this comprehensive study, the global connected logistics market is set to expand at a compound annual growth rate (CAGR) of 11.5% from 2022 to 2029, ultimately reaching a market valuation of $57.75 billion by 2029.

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Market Growth Drivers

The anticipated surge in market growth is largely attributed to an increasing demand for enhanced warehouse management solutions and the widespread adoption of advanced technologies, such as the Internet of Things (IoT), cloud computing, and artificial intelligence (AI), across various industries. As supply chain complexities evolve, organizations are focusing on optimizing operational efficiencies and real-time tracking capabilities, fueling the rapid adoption of connected logistics solutions.

While these advancements present immense growth potential, the market faces certain challenges, such as the lack of standardization, which could hinder the broader adoption of connected logistics solutions. Nonetheless, opportunities abound as blockchain integration within freight management and the untapped potential in developing regions are expected to drive future growth. Furthermore, emerging trends like autonomous vehicles are transforming the landscape of logistics, pushing the sector toward a more digitized and efficient future.

Segment Highlights: Offerings, Transportation Modes, Applications, and End Users

By Offering: Solutions Segment Dominates, Services Poised for Rapid Growth

The connected logistics market is segmented by offerings into solutions and services. In 2022, the solutions segment held the largest market share, driven by the increasing need to remotely monitor and track inventory and shipments in real-time. Government initiatives focused on enhancing logistics efficiency and the growing adoption of environmentally friendly technologies have further bolstered this segment's dominance.

However, the services segment is forecasted to experience the highest CAGR during the forecast period. Businesses are increasingly seeking real-time visibility into supply chain operations to proactively diagnose and resolve issues, driving the demand for connected logistics services.

By Transportation Mode: Roadways Lead, Projected for Continued Growth

Transportation modes in the connected logistics market are categorized into roadways, railways, airways, and maritime. The roadways segment is expected to hold the largest share of the global market in 2022, primarily driven by initiatives aimed at improving road safety, reducing traffic congestion, and enhancing road infrastructure sustainability. Significant government investments in smart infrastructure development are further propelling this segment's growth.

Looking ahead, the roadways segment is anticipated to grow at the fastest rate during the forecast period, as advancements in connected vehicles and smart road networks enhance the efficiency and safety of ground transportation.

By Application: Inventory Tracking Leads, End-to-End Delivery Tracking Gains Momentum

The market's application-based segmentation includes inventory tracking, optimized warehousing, real-time fleet management, predictive maintenance, cargo integrity monitoring, end-to-end delivery tracking, and other use cases. In 2022, the inventory tracking segment is expected to command the largest market share, owing to the benefits of IoT-powered solutions that offer comprehensive visibility, increased accuracy, and automated tracking of inbound and outbound goods.

The end-to-end delivery tracking segment, however, is projected to register the highest growth during the forecast period. The ability to consolidate supply chain stages into user-friendly dashboards, offering seamless tracking of deliveries from origin to destination, is fueling the demand for this application.

By End-User Industry: Retail & E-commerce Lead, Automotive Segment on the Rise

End-use industries driving the connected logistics market include automotive, healthcare & pharmaceuticals, oil & gas, food & beverage, aerospace & defense, manufacturing, IT & telecommunications, retail & e-commerce, and others. In 2022, the retail & e-commerce segment is projected to account for the largest market share. This growth can be attributed to the increasing adoption of digital logistics platforms, rising infrastructure investments, and the surging number of online shoppers.

The automotive segment, however, is expected to witness the highest CAGR over the forecast period. As the automotive industry faces growing complexities in logistics, such as managing parts inventory and ensuring timely delivery, companies are investing in connected logistics solutions that provide real-time visibility and risk management capabilities.

Geographic Insights: North America Leads, Asia-Pacific Gaining Traction

Geographically, the connected logistics market spans North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, North America is projected to dominate the global market, driven by the region's focus on public safety, smart city initiatives, and the adoption of eco-friendly vehicle technologies. Furthermore, increasing governmental support for traffic management solutions is contributing to the region's leadership position.

However, the Asia-Pacific region is expected to experience the fastest growth during the forecast period, fueled by substantial investments in megacity infrastructure projects and ongoing modernization efforts in transportation networks across key emerging economies.

Key Market Players

The competitive landscape of the connected logistics market is characterized by several prominent players, including International Business Machines Corporation (U.S.), SAP (Germany), Intel Corporation (U.S.), Cisco Systems, Inc. (U.S.), Freightgate Inc. (U.S.), ORBCOMM (U.S.), AT&T Intellectual Property (U.S.), Honeywell International Inc. (U.S.), Bosch Service Solutions GmbH (Germany), HCL Technologies Limited (India), Infosys Limited (India), Eurotech S.p.A. (Italy), Microsoft (U.S.), Siemens (Germany), Oracle (U.S.), Zebra Technologies Corp. (U.S.), Cloud Logistics (U.S.), NEC Corporation (Japan), Accenture (Ireland), and Sigfox (France).

These industry leaders continue to drive innovation and collaborate with organizations globally to offer cutting-edge connected logistics solutions that address the evolving needs of the supply chain industry.

Conclusion

The connected logistics market is rapidly transforming the supply chain landscape by leveraging advanced technologies that enable real-time visibility, predictive maintenance, and optimized operational efficiency. As the market is set to experience significant growth in the coming years, stakeholders must stay ahead of technological trends and invest in solutions that not only streamline operations but also create sustainable, scalable supply chain models for the future.

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