Meticulous Research®, a leading global market research and advisory firm, has announced the release of its latest report, “Connected Logistics Market by Offering, Transportation Mode, Application, End User, and Geography – Global Forecast to 2029.” The report highlights significant growth opportunities in the connected logistics market, projected to expand at a compound annual growth rate (CAGR) of 11.5% from 2022 to 2029, reaching a market value of $57.75 billion.
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The robust expansion of the connected logistics market is primarily attributed to the increasing demand for efficient warehouse management systems and the rapid adoption of Internet of Things (IoT), cloud computing, and other advanced technologies across multiple sectors. As industries seek greater operational efficiency and enhanced supply chain visibility, connected logistics solutions are becoming an essential investment for businesses worldwide. Despite the market's positive growth trajectory, challenges remain—namely, the lack of standardization and ongoing concerns about data security.
However, significant opportunities abound, with the integration of blockchain technology into freight management systems and the expanding adoption of connected logistics solutions in developing regions. Additionally, the growing focus on autonomous vehicles in the logistics sector presents a compelling trend that is shaping the future of this market.
Market Segmentation: Key Growth Drivers
The report delves into the connected logistics market’s growth across various segments, including offering, transportation mode, application, and end-user industries. It also presents a comprehensive analysis of competitors and evaluates the market's regional dynamics.
Offering Segment: Solutions Lead the Way
The connected logistics market is segmented into solutions and services. In 2022, the solutions segment commanded the largest market share, driven by the growing need for real-time inventory tracking and monitoring, as well as government initiatives aimed at boosting the efficiency and sustainability of logistics operations. These solutions allow businesses to track inventory and goods movement remotely, significantly improving operational transparency and reducing human error.
The services segment, however, is expected to experience the highest CAGR during the forecast period. The rising demand for real-time operational visibility—especially for diagnosing and resolving issues before they affect business continuity or customer satisfaction—is a key factor fueling this growth. Service offerings that enhance operational performance and reduce downtime are increasingly sought after by businesses across various sectors.
Transportation Mode: Roadways Dominate
The market is segmented by transportation mode into roadways, railways, airways, and maritime. In 2022, roadways held the largest share of the connected logistics market, a trend attributed to the growing need for enhanced road safety, reduced traffic congestion, and increasing government investments in infrastructure. The demand for sustainable and smart roadways is driving innovation in this sector, ensuring that road transport remains a critical component of connected logistics.
The roadways segment is also expected to grow at the highest CAGR during the forecast period, supported by favorable government policies and the rise of smart city initiatives aimed at modernizing transportation networks.
Application Segment: Inventory Tracking Leads, End-to-End Delivery Tracking Surges
Within the application segment, the inventory tracking category held the largest share in 2022. The adoption of IoT-enabled solutions has greatly enhanced visibility into inventory movement, improving accuracy and reducing manual errors through automation. The need for efficient, automated inventory management systems is a key driver for growth in this segment.
End-to-end delivery tracking, however, is projected to witness the highest CAGR over the forecast period. Businesses are increasingly adopting digital solutions that integrate all stages of supply chain management into a single, user-friendly dashboard. This seamless integration offers greater visibility and control over the entire logistics process, from dispatch to final delivery, fueling demand for such solutions in the coming years.
End-Use Industries: Retail & E-commerce Lead, Automotive Sees Strong Growth
By end-use industry, retail & e-commerce emerged as the dominant segment in 2022, driven by infrastructure improvements, increasing awareness of tech-enabled logistics platforms, and the growing number of online shoppers. As e-commerce continues to boom, the demand for connected logistics solutions that ensure seamless, on-time delivery is escalating.
The automotive sector, however, is expected to register the highest CAGR during the forecast period. The need to enhance visibility in the logistics of automotive parts and manage risks more effectively is driving the adoption of connected logistics solutions in this sector. As automotive supply chains become increasingly complex, connected logistics solutions will play a critical role in optimizing operations.
Geographical Insights: North America Leads, Asia-Pacific Emerges
Geographically, North America dominated the connected logistics market in 2022, benefiting from growing public safety initiatives, smart city projects, and the adoption of sustainable automotive technologies. The region’s investments in infrastructure and traffic management are propelling the demand for connected logistics solutions.
The Asia-Pacific region, however, is poised to grow at the fastest rate during the forecast period. Significant investments in megacity projects, ongoing modernization of transportation networks, and the region’s increasing role as a global manufacturing and trading hub are expected to drive rapid growth in the connected logistics market.
Key Players in the Connected Logistics Market
The competitive landscape of the connected logistics market is comprised of prominent players such as International Business Machines Corporation (U.S.), SAP SE (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 Corporation (U.S.), Siemens AG (Germany), Oracle Corporation (U.S.), Zebra Technologies Corporation (U.S.), Cloud Logistics (U.S.), NEC Corporation (Japan), Accenture (Ireland), and Sigfox (France).
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