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Connected Logistics Market is anticipated to rise at a value CAGR of 31.35% over 2019-2028. According to a study published by Insure Insights on the Connected Logistics Market. Logistics are an essential part of various industries like manufacturing, healthcare, Food, and Beverages, etc. Logistics have gained importance as it helps in reducing costs and improves overall efficiency. The rise in supply chain activities has further boosted the growth of logistics. Connected logistics involves communication devices, joints, and Internet of Things (IoT) technologies together as a set. It changes the key logistical processes to become more customer-centric by sharing data, information, and facts with the supply chain partners. The rise in the innovations in mobile technologies and an increase in logistics transparency have driven the market growth of Connected logistics.
Top Driver: Rise in the need for mobility are driving the growth of the Connected Logistics
The Increase in the need for mobility is the primary factor driving the market. The advent of technologies like IoT connecting devices and various other technological advancements in the logistics industry has accelerated the market of Connected Logistics, The decrease in the cost of sensors and the rise in the number of the high-tech vehicle, have escalated the overall demand if the market.
Asset management software has obtained the highest contribution in the Global Connected Logistics Market
Based on the Software segment, Asset management software has obtained the highest growth due to an increase in globalization, demand for advanced transportation and logistics infrastructure has primarily driven the segmental growth. Asset management software also supports shipping and helps managers to address issues regarding the improvement in service availability & performance with the help of a mobile device. The increase in demand for automated logistic systems have further prompted the market growth
In terms of the Transportation segment, roadways have obtained the most significant growth in the Connected Logistics Market due to managing the flow of goods through production activities like warehousing distribution, etc. The availability of real-time tracking system has further propelled the market growth. In terms of the End User, segment manufacturing has obtained the most remarkable growth due to the rise in the manufacturing activities
North America to Rule the global Connected Logistics Market due Technological advances
The presence of key players like AT&T IBM and technological advancements, including the adoption of IoT are the major factors contributing to the growth of the region. The economic growth of countries like the U.S., Canada, and Mexico are further propelling the market growth of the region. The strong financial growth of these countries and favorable investment are contributing to market growth. The advent of Big data, artificial intelligence, data analytics have escalated the market growth of the region. Industries are using connected logistics technologies for improving operational efficiency and also in the supply chain management have further improved the regional market revenue.
Strategic collaborations, mergers, and acquisition are the major strategies of the competitors
The players focus on Acquisition, Mergers Collaborations for their overall growth. The key competitors of the global Connected Logistics Market are IBM, Eurotech S.P.A, ORBCOMM, AT&T Inc. Infosys, Intel Corporation, Zebra Technologies, Cisco Systems, SecureRE, and GT Nexus
ORBCOMM: ORBCOMM is a giant competitor of Connected Logistics Market; for instance, in the year 2019, ORBCOMM had announced that it had completed the acquisition of Blue Tree Systems Limited. They provide transportation management solutions to trucks, straight refrigerated trucks, etc. This acquisition was made by ORBCOMM to strengthen its portfolio for transportation.
Infosys: Infosys is popular in the global Connected Logistics Market. In February 2020, Infosys had announced the agreement to acquire Simplus. This acquisition was made to strengthen the Infosys product portfolio.
Cisco Systems: Cisco Systems in May 2020, had announced the acquisition of ThousandEyes, the deal was made for USD 1 billion. The acquisition was made by Cisco Systems to strengthen its software portfolio.
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