The North America Connected Logistics Market would witness market growth of 13.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Connected Logistics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $23,915.6 million by 2031. The Canada market is showcasing a CAGR of 15.8% during (2024 - 2031). Additionally, The Mexico market would register a CAGR of 14.8% during (2024 - 2031).
The increasing focus on environmental responsibility and sustainability also propels the proliferation of linked logistics systems. Businesses use Internet of Things (IoT) sensors and analytics to track energy use, carbon emissions, and environmental effects along the supply chain. This helps them find areas for optimization and lower their carbon footprint.
Moreover, innovation is at the forefront of the market, with companies continuously developing new technologies and solutions to address evolving customer needs and market demands. One area of innovation is the development of drones and driverless cars for last-mile delivery, which makes it possible to deliver items more quickly and effectively in both urban and rural locations.
As per the data from Statistics Canada, between February 2020 and July 2022, retail e-commerce sales surged by 67.9%, and from 2019 to 2022 (July year-to-date), e-commerce sales as a share of total retail sales increased noticeably. Retail e-commerce sales remained high in some industry subsectors in 2022. Still, in others, the return of in-store operations has caused consumers and businesses to move closer to pre-pandemic purchasing habits. Hence, the growing automotive and e-commerce proliferation in North America will assist in the growth of the regional market.
Free Valuable Insights: The Connected Logistics Market is Predict to reach 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 U.S., Mexico, Canada, and Rest of North America.
By Component
By Transportation Mode
By Technology
By Vertical
By Country
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