Connected Logistics Market Research Report, Trends, Analysis and Forecast to 2022

Connected logistics is a set of stages or programming and hardware that helps increase real-time data with respect to the products that are delivered through different methods of transportation, including roadways, railways, aviation routes, and seaways. It imparts applicable information and logistical information to all supply chain partners to smoothen the transportation procedure. These solutions help organizations in improving operational effectiveness, continuous access, and upgrades efficiency by coordinating different associated stages. It aids in cargo track management & routing, and supply chain security management. It likewise helps in risk resilience planning, tracking each fleet vehicle’s area and execution improvement. The“Global Connected Logistics Market” accounted for $9.72 billion in 2016 and is expected to reach $54.80 billion by 2022 growing at a CAGR of 33.4% from 2016 to 2022.

The rising cost of fuels and related environmental issues for example, carbon outflow and contamination are empowering the move from conventional transportation strategies towards IoT- empowered connected logistics solutions. They influence sensors, cloud innovation, and IoT network to remotely manage, monitor, and control the supply chain activities. The adoption of IoT has improved the productivity of the supply chain platform for the logistics and transportation industry. It offers complete visibility and faster detection of network issues that helps in powerful and convenient decision-making. Likewise, upgraded supply chain visibility leads to long-term cost savings. So, the demand for IoT-enabled solutions is growing in different industrial end-users.

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Autonomous trucks and vehicles have various advantages across different businesses that are battling with the demand for shorter delivery times. Thus, the developing requirement for these vehicles across industries, for example, food and beverages, medicinal services and pharmaceuticals, and manufacturing, for the development of products is showing opportunity for connected logistics technologies. The developing mobility demand has emphasized difficulties such as unpredictable oil costs, massive investment, and dealing with emissions. Consequently, key players are engaged in improving high tech vehicles that are equipped of meeting the future needs of the economy as well as society. The high tech vehicles utilized in supply chain and logistics helps in improving both the productivity and safety of transportation, coupled with upgraded environmental sustainability. Besides, the increasing accessibility of connected drones is supporting this demand to the developing number of high tech vehicles.

    

The development in deals of cell phones has expanded the adoption of Connected Logistics among industry verticals. According to “Ericsson Mobility Report” published in 2015, the number of smartphone users is estimated to reach 6.1 billion by 2020. Further, Cisco IBSG have anticipated that the number of connected devices is expected to reach 50 billion by 2020. Moreover, presentation of Bluetooth 5, Bluetooth beacons, growing internet penetration, and expected rise in trade volumes during forecast period is some of the factors that are expected to support the Connected Logistics market demand.

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The Asia-Pacific region is likely to provide high growth in terms of revenue in the forecast period, altogether in the developing economies like India and China. Enhancements in innovation, expanding the utilization of sensors, and automation is some factors expected to support the market growth. For instance, China is the world’s biggest E-Commerce market, with over half of global E-Commerce transactions coming from China.   As Per, DezanShira& Associates, in 2018, China’s online retail sales reached so higher by the end of 2019.  Also, in 2018, the number of digital purchasers in China exceeded 560 million, with the total number predictable to reach 634 million in 2020.Further, by 2020, China’s E-Commerce market is anticipated to be larger than those of other countries combined. The development of E-commerce industry in recent years in China is owing to the advancements in the internet infrastructure and establishment of global logistics networks.

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Also, in 2019, Singapore started transforming logistics to strengthen its place in APAC’s logistics industry by incorporating the advancements with the current procedures. The Singapore government has already begun transforming logistics as part of its USD 4.5 billion Industry Transformation Programme. The main objective of the program is to drive excellence in logistics operations and to be leaders in development, while additionally building a strong core of local logistics talent and making Singapore attractive to inward investment. This plan is named the Logistics Industry Transformation Map (ITM) and follows similar plans for Singapore’s food and beverage and precision engineering sectors.