The report, called “Connected Logistics Market by Internet of Things (IoT) Technologies in Fleet Management, Warehouse and Inventory Management, by Connectivity Technologies (Zigbee, Wi-Fi, Satellite), by Devices, Transportation Mode, Services – Global Forecast to 2020,” was published in September 2015.
Per research firm MarketsandMarkets, the connected logistics market is expected to grow from USD 5.05 Billion in 2015 to USD 20.46 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 32.3%.
“The connected logistics solutions has helped logistics companies to monitor inventory, track theft and loss, and manage warehouses and assets effectively. The demand for this market is being driven by internet ubiquity across the world and the declining costs of Internet of Things (IoT) components such as sensors and RFID. Big data and analytics platform is another factor which considered as an important driver of the IoT market. The connected logistics market is expected to flourish in the coming years owing to the increasing usage of mobile applications along with rapid proliferation of embedded sensor technology, wearables and applications. Niche players such as ThingWorx and SecureRF are developing software platforms for efficient logistics processes.”