Market Definition
Connected logistics comprises interconnected cloud platforms, communication systems, and Internet of Things (IoT) technologies that provide real-time information regarding the goods shipped through various transportation modes like roadways, railways, airways, & seaways. These solutions share relevant data & logistical information with supply chain operators to smoothen the transportation process and help companies improve their operational efficiency, productivity, & real-time access.
Market Insights
The Asia-Pacific Connected Logistics Market is expected to grow at a CAGR of more than 18% CAGR during the forecast period, i.e., 2023-28. Currently, the market is in its nascent phase, and future growth would be driven primarily by the ever-growing need for optimizing the transportation & logistics industry to reduce operational costs & carbon emissions and the rapidly growing penetration of Industry 4.0 & industrial IoT devices. Besides, rapid technological advancements in transportation, the flourishing manufacturing & e-commerce sectors, and massive investments by governments in megacity projects are other prominent aspects projected to drive the connected logistics market in the forecast years.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 18% |
| Country Covered | China, Japan, India, South Korea, South East Asia, Australia, New Zealand, Rest of Asia-Pacific |
| Key Companies Profiled | 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, Intel Corporation, Others. |
| Unit Denominations | USD Million/Billion |
Several countries across Asia-Pacific are actively working on bringing remarkable advancements in IoT-enabled solutions for supply chain management. Japan is making rigorous efforts toward transforming its logistics industry by integrating new technologies with existing processes in order to strengthen its position in the regional market.
Likewise, China is also witnessing a significantly expanding logistics sector owing to booming e-commerce. On the other hand, India has also recorded substantial e-commerce revenues in the past few years, thereby escalating the adoption of connected logistics solutions. Moreover, rapidly rising agricultural exports in Australia are further spurring growth in the logistics & warehousing industries across the country.
More & more connected logistics solutions equipped with top-notch interoperability, security, & accessibility features are becoming available across the region. Furthermore, continuous R&D in autonomous logistics trucks and declining costs of IoT-enabled sensors are also creating new avenues for the connected logistics industry to witness notable expansion in Asia-Pacific over the coming years.
