The rising prominence of internet of things in the logistics industry, along with multiple applications of connected logistics in e-commerce, the global connected logistics market is receiving a boost.
A report by Transparency Market Research predicts the global connected logistics market to rise at a robust 17.8% CAGR over the forecast period between 2017 and 2025. At this pace, the market will become worth US$55.17 bn by the end of 2025 from US$10.21 bn in 2016.
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Global Connected Logistics Market: Snapshot
Key players in the global connected logistics market are adopting numerous growth strategies to steal a march over their competitors. Besides product development, key players in the global connected logistics market are resorting to mergers and acquisitions to gain competitive advantage.
Majorly fuelling growth in the global connected logistics market is the breakthrough development in the transportation of sensitive products such as pharmaceuticals. For example, severe temperature fluctuations at the time of transport of pharmaceuticals sends alert to the manufacturer to take action before the products get damaged.
This post was originally published on Space Market Research