The installation of connected logistics systems helps to enhance the operational efficiency of different logistics applications such as warehouse management, fleet management, inventory management, tracking and monitoring and telematics connectivity. Internet of things (IoT) is the core technology which is used in connected logistics systems. The global connected logistics market is growing rapidly and is expected a significant growth during the forecast period. Owing to the rising need for the effective management of temperature-sensitive products is driving the growth of the connected logistics market globally. Connected logistics are used in a wide range of industry vertical including automotive, aerospace and defense, retail, oil and gas, food and beverages, pharmaceuticals and manufacturing among others.
The global connected logistics market is expected to grow during the period of 2017- 2025. The rising need for temperature sensitive products in food and beverage and pharmaceuticals industry is acting as a driver for this market. Additionally,various countries across the globe are revving up their defense infrastructure, which is in turn contributing to the growing demand for connected logistics. Moreover, increasing need for minimizing the wastage of drugs which occurred by lack of sufficient cold chain storage the market of connected logistics is growing significantly and is expected a stable growth during the forecast period. The food and beverages industry is suffering from huge amount of food wastage due to temperature issues. Therefore, the natural environment is damaging by disposing the food wastage using inappropriate technique. Hence, the organizations are spending on technologies such as connected logistics systems to avoid these issues, which help to booming the connected logistics market globally. However many organization are still reluctant to install the Internet of Things (IoT) mainly in logistics due to lack of awareness of this products and its benefits.
The ongoing technological advancement in the connected logistics industry is acting as an opportunity for the market.For instance; the new smart connected logistics are basically used in various applications such as mobile technology, logistics transparency and others. The rising innovation in mobile technology is expectedto fuel the growth during the forecast period. Recently many organizations in the domestic and international markets are raising the usage of technologies to manage their distribution systems and supply chain management (SCM). One of the key factor that booming the demand for mobility trends in supply chain management systems such as wireless connectivity, application development, advancements in M2M communication systems and platform integration that offers a convenient and easy access to supply chain related data.
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The global connected logistics market is segmented in four categories: by transportation systems, by application, by platform and by end use. By transportation systems the market can be divided intorailways, roadways, airways and seaways. In terms of application, the market of connected logistics can be divided into remote asset management and monitoring systems, warehouse automation systems, security management systems and data and network management systems. In terms of platform, the market can be segregated into device management platform, application enablement platform, network management platform. In terms of end use the market of connected logistics can be divided into retail, manufacturing, oil and gas industry, aerospace and defense, automotive and food and beverages among others.
By geography, the market of connected logistics is divided in five major regions such as North America, Europe, Asia Pacific and Middle East and Africa and Latin America. Europe and North America are the early adopters of technology and thereforethese two regions are expected to occupy majority of the market share. However, Asia Pacific is anticipated to see fastest growth during the forecast period due to the presence of developing nations such as China and India. This growth is endorsed to the availability of skilled workforce required to connected logistics market.
The key players participating in the connected logistics market are IBM Corporation (Armonk, New York), SAP SE (Walldorf, Germany), Cisco Systems Inc. (San José, California), A&T Inc.( Maryland, U.S.A.), Intel Corporation (Santa Clara, California), Cloud Logistics (Florida, U.S.A.), Infosys Limited (Bengaluru, India), HCL Technologies Limited (Noida, India), Orbcomm Inc.( New Jersey, U.S.A), Eurotech S.P.A (Province of Udine, Italy), and Freightgate Inc.( Fountain Valley City in California) among others.
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