Future-Proofing the Supply Chain: The Role of Smart Logistics

PRESS RELEASE

Published April 17, 2023

New York: The market value of smart logistics revenue is currently $30.6 billion, and by the end of 2032, it is expected to soar to US$201 billion. This is because it is predicted that over the next ten years, the global market for smart logistics will grow at a rate of 20.7% CAGR.

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Smart Logistics Market: Segmentation

The global smart logistics market can be segmented on the basis of components, industry vertical, and regions.

Segmentation of the Smart Logistics Market by Services:

Hardware
Software
Services
- Professional Services
- Managed Services

Segmentation of the Smart Logistics Market by Industry Verticals:

Oil and Gas
Power and Energy
Aviation and Marine
Military and Defense
Manufacturing
Retail
Automotive
Chemicals
Food and Beverages
Others

Smart Logistics Market: Key Players

Examples of some of the key players operating in the smart logistics market are

AT&T Intellectual Property
IBM Corporation
Intel Corporation
SAP SE
Cisco Systems
Oracle Corporation
Freightgate Inc.
Arkessa
Bosch Connected Devices and Solutions GmbH
Honeywell International Inc. and Orbcomm Inc. among others.

Many players (manufacturers and vendors offering Smart Logistics solutions) are focusing on expanding their presence in the market by collaborating with various tier-1 companies. For instance, in May 2018, AT&T partnered with Honeywell International Inc., for delivering Internet of Things (IoT) technology to aircraft and freight solutions in countries across the globe, especially in the U.S., Latin America, Canada, Asia Pacific and Europe.

Recent Development in Smart Logistics Market

As of my knowledge cutoff date in September 2021, the smart logistics market has been witnessing several developments driven by advancements in technology and increasing demand for efficient and cost-effective supply chain management. Some of the recent developments in the smart logistics market include:

Adoption of Internet of Things (IoT) in logistics: IoT technology has been gaining traction in the logistics industry, enabling real-time tracking and monitoring of goods, assets, and vehicles. IoT-powered sensors, RFID tags, and connected devices are being used to collect data on shipments, warehouse inventory, and transportation routes, allowing logistics companies to optimize their operations, reduce costs, and improve supply chain visibility.
Emergence of Artificial Intelligence (AI) and Machine Learning (ML) in logistics: AI and ML are being leveraged in the smart logistics market for tasks such as predictive analytics, demand forecasting, route optimization, and risk management. These technologies enable logistics companies to analyze large amounts of data and make data-driven decisions to optimize their operations, enhance customer service, and improve efficiency.
Growth of autonomous vehicles and drones in logistics: Autonomous vehicles, including self-driving trucks and drones, are being increasingly used in logistics operations to improve transportation efficiency, reduce human errors, and lower operational costs. These vehicles are capable of performing tasks such as goods transportation, last-mile delivery, and warehouse management autonomously, thereby enhancing the overall logistics process.
Expansion of e-commerce and omnichannel retailing: The growth of e-commerce and omnichannel retailing has been driving the demand for smart logistics solutions. E-commerce companies are increasingly adopting technologies such as robotics, automation, and data analytics to streamline their logistics operations, reduce delivery times, and improve customer satisfaction.

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Regional analysis for global Smart Logistics market includes

North America Smart Logistics Market
- U.S.
- Canada
Latin America Smart Logistics Market
- Mexico
- Brazil
- Rest of Latin America
Western Europe Smart Logistics Market
- Germany
- France
- U.K.
- Spain
- Italy
- Nordic
- Benelux
- Rest of Western Europe
Eastern Europe Smart Logistics Market
- Poland
- Russia
- Rest of Eastern Europe
SEA and other Asia Pacific countries Smart Logistics Market
- India
- Indonesia
- Oceania
- Singapore
- Philippines
- Malaysia
- Thailand
- Rest of SEA and other Asia Pacific countries
Japan Smart Logistics Market
China Smart Logistics Market
Middle East and Africa Smart Logistics Market
- GCC Countries
- Turkey
- North Africa
- South Africa
- Rest of MEA

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Future-Proofing the Supply Chain: The Role of Smart Logistics

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