According to a recent research study published by MarkNtel Advisors, the Asia-Pacific Connected Logistics Market is set to record more than 18% CAGR during 2023-28. The burgeoning demand for reduced operational costs & carbon emissions in the transportation sector, massive investments by governments in megacity projects, the increasing proliferation of Industry 4.0 & IIoT devices, significant technological advancements in transportation, and the booming manufacturing & e-commerce sectors are the prime factors projected to drive the market in the forecast years.
Across the region, China is witnessing a significantly expanding logistics sector owing to ever-increasing e-commerce platforms. India is also performing well in terms of e-commerce revenues and thus fueling the adoption of connected logistics solutions. Additionally, the expansion of logistics & warehousing industries in Australia owing to the rapid rise in agricultural exports is further boosting the market.
Moreover, reducing prices of IoT-enabled sensors, ongoing R&D activities in autonomous logistics trucks, and the ever-increasing availability of connected logistics solutions equipped with high interoperability, security, & accessibility are other crucial aspects expected to boost the Asia-Pacific Connected Logistics Market through 2028.
Roadways is the Most-Preferred Transportation Mode by Logistics Companies
Governments of various countries across Asia-Pacific are actively working on ensuring efficient transportation of goods across long distances, especially for last-mile delivery, owing to which they are increasingly implementing connected logistics solutions in roadways that offer a large carrying capacity. The Indian government has introduced a national logistics policy to facilitate easy operations and minimize transportation costs. The rising need to ensure an organized & managed flow of goods to track their real-time location and minimize transportation problems is uplifting the demand for connected logistics solutions in roadways.
The key companies in the Asia-Pacific Connected Logistics Market include SAP SE, American Telephone and Telegraph Inc. (AT&T), Parametric Technology Corporation Inc. (PTC), Cisco Systems, Inc., Zebra Technologies Corporation, International Business Machines Corporation (IBM), Oracle Corporation, Eurotech S.p.A., SecureRF, and Intel Corporation.
Key Questions Answered in the Research Report: