by the proliferation of new technological developments like wearable devices,
embedded sensors. Another major factor is various technological solutions providing
common platforms like M2M communication systems, platform integration that offers
convenience for SCM.
The main objective to use these services for organizations will be asset management,
reduction in fuel costs, fleet route optimization, better inventory management,
compliance management and getting deeper insights of product usage and customer
behavior. The lack of awareness about benefits and hesitation of accepting new
technological developments is hampering the growth. Also, the different regional
regulatory compliances and ambiguity in clear definition of sea and air borders also
hampers the growth of the connected logistics market size.
The main reason behind this is growth of cloud solutions which are offered to service
providers by vendors across the globe. Retail, pharmaceutical, and healthcare sectors
are expected to gain maximum benefits from connected logistics solutions. Retail will
be one of the sectors showing highest CAGR.
Retail sector has used the connected logistics solutions to address enterprise
demands. The quality of shopping experience will be enhanced using IoT solutions
while improving available technology, economic structure, and environmental change
in the interest of the retail industry.
Some of the players are IBM, AT&T Inc., Eurotech S.P.A, ORBCOMM, Infosys, Cisco
Systems, Intel Corporation, Zebra Technologies, SAP, SecureRE, GT Nexus. Major
players in the market are expanding by acquiring new companies to maintain presence
in the growing competitive environment. The connected logistics market share is also
witnessing the collaborations of major players to provide better technological solutions.
Market research reports: Key analytical components
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