Connected Logistics Market-Overview
The need for communication in the logistic chain is imperative, thus bolstering the connected logistics market 2020. The ICT industry reports are produced by Market Research Future, which highlights market options for expansion. A 22% CAGR is estimated to define market development in the forecast period.
The need for proper control over the management of the products is estimated to guide the connected logistics market. Moreover, the development in the smart transportation market is predicted to spur the expansion of the connected logistics market share in the impending period.
The segmentation of the connected logistics market is conducted by software, transportation mode, platform, and vertical. On the basis of the software, the connected logistics market is segmented into the warehouse management system, network management, security, asset management, data management, and streaming analytics. Based on the platform, the connected logistics market is segmented into device management, application management, and connectivity management. On the basis of the transportation mode, the connected logistics market is segmented into airways, waterways, roadways, and railways. Based on the verticals, the connected logistics market is segmented into automotive, manufacturing, healthcare, retail, I.T. & Telecom, food & beverage, oil & gas, and others. Based on the regions, the connected logistics market comprises of North America, Europe, Asia Pacific, and the rest of the regions.
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Detailed Regional Analysis
The regional study of the connected logistics market encompasses North America, Europe, Asia Pacific, and the rest of the regions. It has been apparent that the North American regional market is poised to be the main shareholder of the connected logistics market. The reputable logistics industry and technical alterations in the North American region are predicted to motivate the connected logistics market. Innovation in technology is also expected to enhance the application of connected logistics. The Asia Pacific regional market is anticipated to prove the enormous growth prospects, importantly, in nations such as China and India. Due to the swelling population and producers in this region are utilizing innovative systems in their processes for management of complex logistics that are more efficient with the assistance of tools, which is intended to gather and decipher data.
The expansion of the market has currently come close to a standstill with government agencies and trade bodies, introducing a stimulus to pick up the pace of development in the global market. The support provided by regulations is estimated to stave off the effects of the downturn considerably in the coming period. The recalibration of the supply chain is estimated to be another area for market expansion in the upcoming period. The currency inflow is estimated to be restricted in the upcoming period, which may create further problems for the overall market growth. Current disequilibrium in the market forces has led to the market players adopting a more cautious approach to growth and development strategies. The planning and forecasting for human capital in the market is estimated to be a crucial area for focus in the years ahead. Advances in production style and technologies are estimated to gain precedence in the coming years as areas of innovation.
The leading companies in the global connected logistics market are Infosys Limited (India), SAP SE (Germany), Huawei Technologies (China), Freightgate Inc. (U.S.), Eurotech S.P.A (Europe), Cisco System Inc. (U.S.), HCL Technology Limited (India), ORBCOMM (U.S.), IBM Corp. (U.S.), AT&T Inc. (U.S.), Cloud Logistics (U.S.), Amazon Web Services(U.S.), Accenture (Republic of Ireland), Intel Corporation (U.S.), and Siemens (Germany).
Apr 2020 BMW is experimenting with a variety of autonomous, connected, and intelligent technologies at its German locations. BMW and three partner businesses from Bavaria are testing the possibilities for building BMW Group Plant Dingolfing, a smart factory for logistics. It’s an element of a three-year research project maintained by the Bavarian Ministry of Economic Affairs, Regional Development, and Energy. The “Autonomous and Connected Logistics” research project was formally commenced in September 2019 and is now going towards the solid phase.
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