Global Connected Logistics are expected to make a significant contribution to the overall industry, with an estimated market to reach USD39.8 billion by 2024. According to the report, some of the important driving forces behind the market growth are Fast and rising adoption of IoT in various domains, Rising demands for faster operations, Technological advancement like Big data and analytics platform and Increasing number of smart cities. The primary concern of any business is the reduction of the overall operating cost. The increased need for operating efficiency and meeting regulatory demands at the same time have become major challenges for the original Players, additional restraints impacting market are changing government standards which is continuously seeking attention of Industry Experts and Decision makers. The incite area of the relevant players is considered thoroughly in the study with proposition to materialistic things, magnetizing and inducing methods, and the level of conflict within competition.
According to a lead Analyst "Competition among the key players is at the peak level, as availability of large number of suppliers and even the threat of new entrant is high owing to market attractiveness. Key players are mainly focusing on adding new features and technologies to gain market attention.". Buoyed by strong demand and sales, industry profit margins have increased considerably during past few years.. A lot of small ventures are looking forward to grab the opportunities in emerging regions such as North America. These opportunities can be in terms of strategic moves, joint ventures, takeovers, merger and acquisitions. These attractive market trends are further expected to gain traction among the companies in the years ahead.
The Connected Logistics Ecosystem: 2018-2024 Opportunities, Challenges, Strategies, Industry Verticals & Forecasts report presents an in-depth assessment of the Connected Logistics market including latest technologies & innovation, key trends, market drivers, challenges, vertical & market applications along with deployment case studies, regulatory landscape, future roadmap and strategies, value chain and player profiles. The report also presents market size forecasts from 2018 till 2024. The forecasts are segmented by Type (Device Management, Application Management and Connectivity Management), by Application (Retail, Oil & Energy and Gas, Pharmaceuticals and Healthcare, Telecom and IT, Automotive, Aerospace and Defense, Food and Beverage, Chemical and Others) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).