San Francisco, California, January 02, 2018: The rising demand for smart, automated shipment tracking in the logistics industry world over is a primary factor driving the global connected logistics market. The intensifying need for a proper sensing technologies for temperature-sensitive products at warehouses and storage facilities to help protect against damage is stoking the demand. This is attributed mainly to a burgeoning number of temperature-sensitive products in the food and beverages sector that need storage. A new report penned by TMR Research, titled, “Connected Logistics Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025”, offers an elaborate assessment of key growth dynamics, emerging trends, and prominent factors impacting the connected logistics market.
The pressing need for improving the operational efficiency among logistics businesses to boost their profit margins is a key factor bolstering the demand for connected logistics systems. The growing adoption of automated logistics technologies for high-value goods being shipped has enhanced the shipment visibility, thereby accentuating the growth of the market. The pressing need for minimizing claims arising out of damage of high-value shipped products in the logistics industry is a noticeable factor boosting the market.
The need for bringing transparency in logistics to reinforce customer trust and gain operational efficiency is bolstering the demand. Furthermore, the need for tracking supply chain activities in real time is also boosting the demand.
The rising popularity of IoT platforms that enables the end-to-end connected solution that integrates devices, sensors, and database is reinforcing the demand for solutions in the logistics market. The market is likely to substantially benefit from various advancements made in IoT compute and resources in various regions. The reduction in cost of sensors and the advent of innovative mobile technologies are crucial factors positively affecting the growth of the market.
The rise in deployment for high-tech vehicles for logistics is a prominent trend boosting the market. However, the lack of uniform governance standards in the logistics industry in some parts of the world and the lack of data interoperability, mounting privacy and safety concerns are some of the notable factors expected to act as bottlenecks in the growth of the market. The lack of standards for data management is also likely to hinder the market if not properly addressed. Nevertheless, the need to adopt automation to bring operational efficiency in order to drive revenue margins is a significant factor expected to bolster demand over the forecast period.
The extensive demand for smart connected logistics solutions and services in developing regions will keep these markets at the forefront. On the others hand, several economies in developed regions are expected to open up exciting avenues for market players, owing to an accelerated pace of adoption of connected logistics solutions across businesses. Spiraling investment in the deployment of smart connected logistics technologies in countries such as Mexico, the U.S., and Canada, will accentuate the regional market over the forecast period. A staggering adoption of IoT connected solutions in the logistics industry in these countries will bolster uptake. In addition, a favorable regulatory landscape and the presence of markedly well-off workforce in the logistics industry are boosting these regional markets.
Several players are tapping emerging opportunities by leveraging the potential of IoT for supply chain initiatives. Some of the leading players operating in the connected logistics market are AT&T, Inc., IBM Corporation, Intel Corporation, SAP SE, and Eurotech S.P.A. A number of prominent players are tapping opportunities in developed markets and expanding their outreach to developing regions, in order to gain a competitive edge over others. They are also investing in the development of advanced IoT solutions for supply chain infrastructure to gain a better foothold in the market.
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