Global Connected Logistics Market Size, Share, Development, Growth and Demand Forecast to 2023 By P&S Market Research

Market Overview

Connected logistics refer to a set of communication devices, advanced network connections and Internet of Things (IoT) technologies, which makes the traditional logistic processes more customer-centric. This is achieved by sharing relevant data, logistical information, and past facts with the supply chain partners. The global connected logistics market has gained significant growth, owing to development of new technologies for transportation and logistics.
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 Market Dynamics
The global connected logistics market is expected to witness a CAGR of 33.0%, during the forecast period, to reach $73,846.1 million by 2023. A significant growth in demand for connected logistics is expected due to rapid increase in adoption of advanced technologies such as IoT in transportation and logistics, advancement in big data analytics, and real time monitoring, globally. In addition, significant improvement in supply chain management is driving the global connected logistics market growth.
Trends
Rapid advancement in cloud computing, adoption of sensor based technologies across industries, and demand for advanced freight management systems are some of the key trends observed in the global connected logistics market. The cloud technology through real-time information sharing for transport carriers and logistics providers is helping in optimizing and executing both inbound and outbound shipments from global locations. Moreover, the global connected logistics market is expected to witness rapid growth, owing to the continuous development of data communication technologies in today’s logistics infrastructure.
Growth Drivers
The global connected logistics market is driven by factors such as rapid growth in IoT, decreasing cost of communication devices, increasing need for logistic operational efficiency, and adoption of smart devices globally.
Opportunities
With the implementation of technologies such as IoT, and adoption of data driven solutions, such as analytics, at a greater scale by logistics providers, the global connected logistics market has huge growth potential. Through factors, such as real time tracking, advanced shipment methods, warehouse capacity optimization, predictive asset management and effective improvement in last mile delivery, the way logistics vendors operate in the global market is likely to enhance. 
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