Connected Logistics Market Projected to Grow with a CAGR of 19.77% During 2021-2030

(AmericaNewsHour via Comtex)

Research Nester has released a report titled "Connected Logistics Market: Global Demand Analysis & Opportunity Outlook 2030" which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

The total number of active IoT devices worldwide touched near to 10 Billion devices in the year 2021 and is further expected to reach 25 Billion by the end of 2030.

The statistics portray the growing adoption of internet of things (IoT) worldwide amongst business organizations, including those businesses which are in the transportation and logistics industry. There is a growing need amongst these business organizations to enhance transparency in their existing business processes so that their customers can lower the wastage generated during the process of transportation of goods. By the adoption of IoT technology and other related sensor-based technologies, businesses in the transportation and logistics industry can significantly reduce their overall operational costs, enhance process efficiency, and also improve their customer experiences. Such factors are therefore anticipated to raise the adoption of connected logistics, and in turn, boost the market growth.

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The global connected logistics market is anticipated to grow with a CAGR of 19.77% during the forecast period, i.e., 2021-2030. The market is estimated to garner a revenue of USD 110610.52 Million by the end of 2030. Additionally, in the year 2020, the market registered a revenue of USD 22532.08 Million. The market is segmented by component into software, hardware, and services. The software segment, out of all the other segments, is projected to garner the largest revenue of USD 41914.64 Million by the end of 2030. Moreover, the segment generated a revenue of USD 7956.08 Million in the year 2020.

By region, the global connected logistics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in the Asia Pacific is anticipated to garner the largest revenue of USD 39390.40 Million by the end of 2030. Additionally, the market in the region attained a revenue of USD 7322.93 Million in the year 2020.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

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However, the lack of proper infrastructure in several developing economies, concern for data security, and the lack of uniform government regulations are predicted to hinder the market growth.

This report also provides the existing competitive scenario of some of the key players of the global connected logistics market, which includes company profiling of AT&T Inc., IBM Corporation, Intel Corporation, SAP SE, Infosys Limited, Cisco Systems Inc., HCL Technologies Limited, ORBCOMM Inc., EUROTECH S.p.A., Freightgate Inc., YUSEN LOGISTICS CO., LTD., Nippon Express Co, Ltd., SENKO Group Holdings Co., Ltd., XPO Logistics, Inc., and others.

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled "Connected Logistics Market: Global Demand Analysis & Opportunity Outlook 2030", analyses the overall global connected logistics industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global connected logistics market in the near future.

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