The Europe Connected Logistics Market would witness market growth of 13.6% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Connected Logistics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $5,779.8 million by 2031. The UK market is exhibiting a CAGR of 12.6% during (2024 - 2031). Additionally, The France market would experience a CAGR of 14.4% during (2024 - 2031).
In warehousing and inventory management, RFID technology enables automated inventory tracking and management, reducing errors and stockouts while improving inventory accuracy and order fulfillment. Connected logistics platforms also facilitate the integration of data from multiple sources, enabling seamless collaboration and visibility across supply chain partners. RFID technology offers greater inventory management accuracy than traditional methods such as barcode scanning.
The simultaneous scanning of multiple items is made possible by RFID devices' wireless and line-of-sight reading capabilities, which enables precise and expeditious inventory counts. Real-time monitoring of inventory levels facilitates the prevention of stockout incidents, the resolution of surplus situations, and the optimization of inventory replenishment procedures. As a result, order fulfillment rates and customer satisfaction are ultimately enhanced.
According to the Eurostat data, Germany had the highest level of current healthcare expenditure among the EU Member States, valued at €432 billion in 2020. Following Italy ($160 billion) and Spain ($120 billion) in terms of current healthcare spending was France ($281 billion). More than any other EU Member State, current healthcare spending in Germany and France was comparable to 12.8% and 12.2% of GDP, respectively. The ratios in Austria (11.5%), Sweden (11.4%), the Netherlands (11.1%), and Belgium (11.1%) were the following highest. Spain, Portugal, and Denmark were the only EU Member States to record double-digit ratios. Luxembourg and Denmark incurred the greatest current healthcare expenditures among EU Member States in 2020, in euro terms and relation to population size (€5 875 per inhabitant and €5 642). Hence, owing to the expansion of the healthcare sector in Europe will assist in the growth of the regional market.
Free Valuable Insights: The Global Connected Logistics Market will Hit USD 91 Billion by 2031, at a CAGR of 14.0%
Based on Component, the market is segmented into Hardware (Sensor Nodes, RFID Tags, Communication Devices, Tracking Devices, and Others), Software (Warehouse Management, Fleet Management, Freight Transportation Management, Asset Tracking & Management, Data Management & Analytics, and Others), and Services (Integration & Deployment, Support & Maintenance, Consulting, and Managed Services). Based on Transportation Mode, the market is segmented into Roadways, Railways, Airways, and Waterways. Based on Technology, the market is segmented into Wi-Fi, Bluetooth, Satellite, Cellular, and Others. Based on Vertical, the market is segmented into Retail & E-commerce, Automotive, Aerospace & Defense, Healthcare, Energy, Electronics & Semiconductors, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Component
By Transportation Mode
By Technology
By Vertical
By Country
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