Fortune Business Insights recently published an in-depth market research report on the "Connected Logistics Market Report 2024," offering key insights and a competitive edge for clients. This comprehensive report provides a detailed analysis of market segmentation, key components, and the driving factors shaping the industry.

Report Overview

The global connected logistics market size was valued at USD 14.49 billion in 2018 and is projected to grow worth USD 423.64 billion by 2032, growing at a CAGR of 23.7% during the forecast period. North America dominated the connected logistics market with a market share of 32.50% in 2018.

"Connected Logistics Market Size, Share & Industry Analysis, By Component (Hardware, Solutions, Services), By Transportation Mode (Roadway, Railway, Airway, Seaway), By Vertical (Manufacturing, Automotive, Food and Beverages, Consumer Goods and Retail, Oil & Gas, Travel and Hospitality, Healthcare and Pharmaceuticals, and Others) and Regional Forecast, 2019-2032."

Key Market Stats:

• Global Market Size (2018): USD 14.49 billion
• Projected Market Size (2032): USD 423.64 billion
• CAGR (2019-2032): 23.7%
• Leading Region (2018): North America, with a 32.5% market share.

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The report highlights the competitive landscape, analyzing top industry players, production capacity, pricing strategies, and global revenue generation. Key players include AT&T, Robert Bosch GmbH, Cisco Systems, Freightgate Inc., HCL Technologies, Honeywell International, IBM, Infosys, Intel Corporation, NEC Corporation, SAP SE, and more.

Market Drivers:

• Technological Advancements: IoT, AI, and big data analytics drive enhanced connectivity and operational efficiency.
• Rising Demand for Real-Time Tracking: Real-time shipment visibility is critical for modern logistics operations.
• Supply Chain Optimization: Companies are increasingly investing in connected logistics to improve efficiency, reduce costs, and streamline operations.
• E-Commerce Growth: The expansion of e-commerce necessitates advanced logistics solutions to manage high order volumes and meet delivery expectations.
• Regulatory Compliance: Logistics companies are focusing on regulatory requirements to ensure transparency and improve reporting capabilities.

Market Restraints:

• High Implementation Costs: Initial investments in sensors and software can be substantial.
• Data Security Concerns: Enhanced connectivity heightens the need for robust data protection.