The Connected Logistics Market is expected to reach US$ 47.6 billion by the end of 2029, with a market value of US$ 22.2 billion in 2022. For the years 2022-2029, demand for connected logistics is expected to grow at an 11.5 percent compound annual growth rate (CAGR).
Mobility as a service (MaaS) incorporates a variety of forms of transportation, ranging from bicycles and public transportation to automobiles and flights. With MaaS, vehicle management responsibilities can be expanded to encompass other forms of transportation. MaaS allows vast volumes of data, such as schedules, transactions, journeys, and employee mobility budgets, to be coordinated and tracked. Companies that are part of the mobility as a service trend provide monthly incentives for riding a bike to work instead of driving a car to save time and avoid traffic bottlenecks. Instead of having vehicles lie idle in a parking lot, businesses use them in ride-sharing or car-sharing programs for other employees, allowing them to travel more freely.
The Market Study on Connected Logistics’ Key Takeaways
- Due to the ease of access provided by e-Commerce platforms to consumers for ordering products online, the retail and consumer goods segment is likely to hold a considerable market share across all vertical segments over the projection period.
- As the usage of RFID and vehicle telematics grows, the devices category is predicted to have the highest CAGR of all the components.
- In the worldwide connected logistics market, South Asia & Pacific is expected to grow at a faster rate than the rest of the world, as logistic enterprises in countries like India use new technologies to deliver better solutions that help businesses save time and money.
- Hexagon AB
- Robert Bosch
- Microsoft Corporation
- Prophet Corporation