Connected Logistics Market By Component (Hardware, Solutions, Services) By Transportation Mode (Roadway, Railway, Airway, Seaway) By End-user (Oil & Gas, Manufacturing, Healthcare and Pharmaceuticals, Automotive, Travel and Hospitality, Food and Beverages, Consumer Goods and Retail, Others)- Growth, Size, Share and Competitive Analysis 2015 – 2027

The Connected Logistics market is projected to reach a market value of more than USD 84,000 million in 2027 from USD 22,357 million in 2020. It is estimated to witness growth at a CAGR of over 22.7% throughout the forecast period.

Connected Logistics is a set of hardware and software that helps get real-time information for the goods shipped through different modes of transportation. These solutions help supply chain companies access real-time, improving operational efficacy and increasing productivity. The “Global Connected Logistics Market” report with Credence Research offers detailed and accurate insights into this industry.

Key Market Drivers and Restraints

This report covers a detailed analysis of the major factors driving the market growth for the Connected Logistics market. The report discusses the major factors affecting global market growth for the Connected Logistics market and helps to identify the key growth trends.

Impact of COVID 19

COVID 19 had a severe impact on the world Connected Logistics industry. With the sudden lockdown, a complete ban on trade activities, and sealed country borders, the global logistics, and supply chain industry was rigorously impacted. Hence, the global Connected Logistics market stated around a 15% decline in its revenue when compared to 2019. Besides, speedy recovery across the globe and increased trade activities are anticipated to push the Connected Logistics market growth.

North America to Dominate the global Connected Logistics market.

The global Connected Logistics market covers six regions, including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa, with all major markets pertaining to it. The world Connected Logistics market report published by Credence Research offers a deep and detailed insight on all regional markets. North America had its dominance in the global Connected Logistics market with more than 35% market revenue share in 2020.

The solutions component leads Global Connected Logistics Market.

Hardware, solutions, and services are three major components for Connected Logistics. Solutions were the major component for Connected Logistics in 2020. The growing demand for effective supply chain management and the increasing need for mobility are the key factors for the dominance of the solutions segment in the global Connected Logistics market. However, the services component in Connected Logistics is anticipated to witness the fastest growth during the forecast period. 

Manufacturing continues to dominate the global demand for Connected Logistics.

The Global Connected Logistics market is segmented based on end-user industries, including Oil & Gas, Manufacturing, Healthcare and Pharmaceuticals, Automotive, Travel and Hospitality, Food and Beverages, Consumer Goods and Retail, and Others. More than 40% revenue share of the global Connected Logistics industry was streamed from the manufacturing industry, and it is presumed to continue its dominance during the forecast period.