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The global connected logistics market was valued at US$ 25.55 Billion in 2021.
We expect the global connected logistics market to exhibit a CAGR of 16.50% during 2022-2027.
The rising integration of connected logistics with RFID chips and IoT devices in carriage trucks, shipments, and individual product units, notifying the exact location and condition of the loads, is primarily driving the global connected logistics market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of cloud-based solutions across several sectors to remotely plan shipments in advance and help in avoiding delayed deliveries by providing shipment monitoring with real-time tracing and tracking.
Based on the component, the global connected logistics market has been segmented into hardware, solutions, and services. Currently, solutions hold the majority of the total market share.
Based on the software, the global connected logistics market can be divided into asset management, warehouse IoT, security, data management, network management, and streaming analytics. Among these, asset management currently exhibits a clear dominance in the market.
Based on the technology, the global connected logistics market has been categorized into Bluetooth, cellular, Wi-Fi, ZigBee, NFC, and satellite. Currently, Bluetooth accounts for the majority of the global market share.
Based on the devices, the global connected logistics market can be segregated into gateways, RFID tags, and sensor nodes, where sensor nodes currently hold the largest market share.
Based on the transportation mode, the global connected logistics market has been bifurcated into roadways, railways, airways, and seaways. Among these, roadways exhibit a clear dominance in the market.
Based on the end use industry, the global connected logistics market can be segmented into automotive, manufacturing, oil and gas, healthcare, IT and telecommunication, retail, food and beverage, and others. Currently, the manufacturing industry holds the majority of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global connected logistics market include AT&T Inc., Cisco Systems Inc., Eurotech S.p.A., HCL Technologies Limited, Honeywell International Inc., Infosys Limited, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, and Zebra Technologies Corporation.
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