Increasing Adoption of Smart Devices Leading to Growth of Connected Logistics Market


The connected logistics market is projected to reach $73,846.1 million by 2023 at a 33.0% CAGR during the forecast period (2017–2023). The market is growing due to the increasing adoption of smart devices and demand for temperature-sensitive products’ management and a significant decline in the cost of sensors. In order to make the traditional logistical processes more customer-centric, connected logistics uses a set of advanced network connections, communication devices, and internet of things (IoT). This is achieved by sharing logistical information, historical facts, and relevant data with the supply chain partners.

In terms of software, the connected logistics market is divided into security, data management, warehouse IoT, asset management, streaming analytics, and network management. Asset management contributed the highest revenue to the market in 2016. However, the security division is expected to grow at the highest CAGR during the forecast period as it offers transportation and logistics providers with protection of logistical operations and critical information during the entire supply chain process. It also monitors the information moving among various computing systems in a connected environment.


The increasing demand for temperature-sensitive products’ management is one of the key factors driving the growth of the connected logistics market. With the increasing demand for perishable products, such as protein-based products, vegetables, fruits, and drugs, the need for temperature-controlled chain’s effective and efficient management is also expanding. Connected logistics help perishable product and service providers correctly maintain the temperature, thereby ensuring that the quality and safety is preserved. Furthermore, connected technology helps reduce foodborne illness by maintaining the temperature throughout the food distribution process.    

Request to get the report sample pages at: https://www.psmarketresearch.com/market-analysis/connected-logistics-market/report-sample

Another major factor driving the growth of the connected logistics market is the significant decline in the cost of sensors and connected equipment. Sensors help in enhancing the operational efficiency of a logistics system by making the data communication between several connected devices effective. Due to rapid technological advancements in the field of electronics and semiconductors, the devices have become cost-effective and smarter, and have better connectivity. As these devices provide ease of connectivity, they are being deployed across various industries, including logistics and transportation.

Hence, the technological advancements in the field leading to improved sensors, increasing demand for temperature-sensitive products’ management, and the emergence of cloud-based logistics solutions are driving the growth of the market.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

To More Information Visit: P&S Intelligence
Location: New York, NY, USA

Comments

Post a Comment

Popular posts from this blog

The Global Beacon Technology Market is expected to grow at a CAGR of 47.6% from 2020-2026 : BlueWeave Consulting

Image
Global Beacon Technology market witness market size of USD 1.29 billion in 2019 to projected to reach USD 19.32 billion by 2026. Such market growth is attributed to increasing smartphone penetration around the world and the need for location-based proximity. Business owners are becoming aware of these customer preferences and are thus leveraging proximity-based beacon transmitters in order to enable real-time communication with those clients. In addition, the proliferation of smart cities around the world contributes favorably to the growth of the beacon technology market, since beacons can facilitate highly connected urban infrastructures. Request to get the report sample pages at :  https://www.blueweaveconsulting.com/global-beacon-technology-market-bwc20056 The rising adoption of advanced communication technologies such as Bluetooth, Wi-Fi, NFC (near-field communication), RFID (radio-frequency identification) and others along with rising popularity of loT technology are few of ...
Read more

Big Data Analytics in Healthcare Market to Reach $22,743.1 Million

Image
Under the Health Information Technology for Economic and Clinical Health (HITECH) Act, in the U.S., healthcare organizations and physicians are rewarded for adopting electronic health records (EHR). The program was initiated by the federal government to push the adoption of this technology. Similarly, the governments of various other countries are also trying to encourage public and private healthcare organizations to implement this digital database. Governments have established bodies, including National e-health Authority in India, which is meant for developing standards and rules for developing EHR. Since the data on paper is being digitized rapidly, software such as EHR have become important for big data analysis. It enables healthcare providers to gain qualitative and useful insights of patients’ data. Through the use of services such as predictive and descriptive analytics, big data analytics helps in providing patient-centric personalized medicine, decreasing patients’ health...
Read more

Biomarkers Market Growth With Latest Development Scenario and Influencing Trends by 2026

Image
Biomarkers are widely used in the analysis and management of multiple diseases. Physiological levels of biomarkers also change upon the administration of drugs. The study of numerous biomarkers helps clinicians make meaningful choices about the analysis, disease stage, therapy plan, and prognosis in patients. The high occurrence of cancer is inspiring research initiatives, motivating the development of the market. Extensive research and technological advancements used for the development of biomarker-based clinical diagnostics are predictable to be the key funders for exchange. An increase in the global affliction of long-lasting diseases, particularly cardiovascular, cancer, diabetes disorders due to an inactive lifestyle, unhealthy diet, and lack of exercise, has been a significant factor motivating the market growth.  Receive sample copy @  https://bit.ly/31x7hyJ Biomarkers are used in application areas such as companion diagnostics, personalized medicines, and o...
Read more