Global Connected Logistics Market Analysis By Size By Technology, By Devices, By Geographic Scope And Forecast 2027
Leeds, West Yorkshire -- (SBWIRE) -- 10/19/2020 -- Connected Logistics Market Size and Forecast
Connected Logistics Market was valued at USD 20.5 billion in 2019 and is projected to achieve USD 35.1 million by 2027, rising at a CAGR of 7.89% from 2020 to 2027.
What is Connected Logistics?
Connected Logistics could be outlined as numerous interconnected gadgets that can be utilized by the Internet of Things answer suppliers to have the ability to enhance the working effectivity of many logistics duties. These technologies include monitoring, warehouse administration, transportation fleet administration monitoring in addition to related logistics operations such as dispatching, monetary transactions, order processing, and delivery. Connected Logistics can be helpful because it establishes communication amongst all events which might be even with out direct connectivity. It's classified based mostly on technology including Wi-Fi, Bluetooth, Zigbee, NFC, Mobile, and Satellite. Based mostly on the gadgets, connected logistics is bifurcated into Gateways, Sensor Nodes, and RFID Tags.
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Global Connected Logistics Market Overview
The lowering value of sensors and the necessity for operational effectivity are anticipated to drive the linked logistics market over the anticipated years. Additionally, the Emergence of IoT connecting gadgets and the rise within the variety of high-tech vehicles expects a lift to the market within the coming years. Moreover, the rising innovation in mobile technologies and rising logistics transparency are predicted to fuel the market through the forecasted interval.
There are particular restraints and challenges confronted which may hinder the market progress. Lack of uniform governance requirements is more likely to act as a market restraint.
Connected Logistics Market by Technology
NFC technology is expected to hold the largest market share as it is used in a wide range of applications all over the globe.
Connected Logistics Market by Devices
- Sensor Nodes
- RFID Tags
Sensor Nodes are predicted to hold the most significant CAGR in the forecasted period as it facilitates a smooth flow of processes by performing processing, gathering & communication, sensory information, and others.
Connected Logistics Market by Geography
Rest of the world
The largest share in the market will be dominated by North America the Asia Pacific owing to the increase in customers and focus on organized logistics to reduce cost and time.
Key Players in Connected Logistics Market
Zebra Technologies SECURERF, SAP, THINGWORX, AT&T Inc. And Cisco Systems, Inc.
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