Global
Connected Logistics Market: Snapshot
Key players in the global
connected logistics market are adopting numerous growth strategies to
steal a march over their competitors. Besides product development,
key players in the global connected logistics market are resorting to
mergers and acquisitions to gain competitive advantage.
Majorly fuelling growth in the
global connected logistics market is the breakthrough development in
the transportation of sensitive products such as pharmaceuticals. For
example, severe temperature fluctuations at the time of transport of
pharmaceuticals sends alert to the manufacturer to take action before
the products get damaged.
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The rising prominence of
internet of things in the logistics industry, along with multiple
applications of connected logistics in e-commerce, the global
connected logistics market is receiving a boost.
A report by Transparency
Market Research predicts the global connected logistics market to
rise at a robust 17.8% CAGR over the forecast period between 2017 and
2025. At this pace, the market will become worth US$55.17 bn by the
end of 2025 from US$10.21 bn in 2016.
Asset
Management to hold Dominant Market Share
The global connected logistics
market by service has been segmented into asset management, remote
asset tracking, security, network management, and data management.
Amongst all, asset management is likely to account for the leading
share in the connected logistics market. At present, globalization
and the need for advanced transportation and logistics infrastructure
is fuelling the demand for automated logistic systems. This is where
the virtues of asset management software come into play in terms of
assisting freight and infrastructure managers to address a number of
service and performance issues.
In terms of end-use, the key
segments into which the global connected logistics market has been
divided are freight management, food and beverage supply chain,
healthcare, retail. Warehouse management, and others.
Asia
Pacific to Clock Robust Growth in Near Future
The global connected logistics
market, by geography has been segmented into North America, Asia
Pacific, Latin America, the Middle East and Africa, and Europe. North
America presently holds supremacy in the global connected logistics
market vis-à-vis revenue. This is mainly due to the demand for
integrity control from businesses that deal in delicate products.
Europe is positioned second in
terms of revenue share in the global connected logistics market. The
growth of this market is mainly driven by the rising adoption of
connected logistics in the healthcare sector. In general,
the healthcare and pharmaceuticals industry face a number of
challenges in the supply chain. The transportation of several
pharmaceutical products need to meet temperature and pressure
specifications from preventing damage to these commodities. The
damage to any particular unit could result in huge loss for the
product manufacturer. In healthcare and pharmaceuticals, distribution
of perishable products, which could be of high value, from one
facility to another also needs reliable facility to prevent damage.
Vis-à-vis growth rate Asia
Pacific is expected to surpass other key regions over the forecast
period. The region is expected to expand at an impressive CAGR of
18.1% between 2017 and 2025. The burgeoning e-commerce sector that
needs real-time tracking of products is majorly driving the connected
logistics market in Asia Pacific.
Some of the leading players
operating in the global connected logistics market include
International Business Machines Corporation, Google Inc., Amazon Web
Services Inc., SAP SE, Infosys Limited, Microsoft Corporation,
Dynatrace LLC, NETSUITE Inc., Feightgat Inc., and Oracle Corporation.
About
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Transparency
Market Research (TMR) is a next-generation provider of syndicated
research, customized research, and consulting services. TMR’s
global and regional market intelligence coverage includes industries
such as pharmaceutical, chemicals and materials, technology and
media, food and beverages, and consumer goods, among others. Each TMR
research report provides clients with a 360-degree view of the market
with statistical forecasts, competitive landscape, detailed
segmentation, key trends, and strategic recommendations
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