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Research and Markets has announced the addition of the "Connected Logistics Market by Software (Asset Management, Warehouse IoT, Security, Network Management, Data Management, and Streaming Analytics), Platform, Service, Transportation Mode, Vertical, and Region - Global Forecast to 2021" report to their offering.

The connected logistics market size is estimated to grow from USD 10.04 billion in 2016 to USD 41.30 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 32.7%.

The evolution of connected vehicles and increasing logistics transparency across the globe and the increasing adoption of connected and intelligent devices are some of the factors expected to drive the connected logistics market

The growth is attributed to the increasing adoption of connected/smart devices by consumers across the globe, which is increasing the demand for better network connectivity. The growing number of internet users, the presence of emerging economies, and increasing infrastructure needs are driving the growth of the market in APAC. Increasing spending in technology is contributing to the growth of the connected logistics market in North America and Europe.

However, lack of uniform standards in organizational bodies is restraining the growth of the logistics and transportation vertical.