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Rising Need for Efficient Warehouse Management is Expected to Drive the Growth of the Connected Logistics Market

   January 18, 2023

Warehouse management plays an important role in the logistics sector. It enables better control over inventory distribution, sorting, and cross-docking, among other processes, ensuring timely delivery, optimized distribution, increased labor productivity, and greater customer satisfaction, ultimately leading to higher profits. The need for efficient warehouse management can be fulfilled by implementing technology solutions that enhance productivity, maximize efficiency, and increase the accuracy of processes, including inventory control, order fulfillment, and internal movement of goods in the warehouse. Furthermore, these solutions enable organizations to improve their competitive responsiveness and manage inventory in real time, with data on the latest orders, shipments, etc.

The growing use of mobile phones has led to exponential growth in online shopping, accelerating the demand for warehouse automation as it simplifies processes such as order tracking & handling. Moreover, warehouse management systems allow users to centralize various warehouse management tasks through unified material handling equipment, ensuring ease of use & operational efficiency and increasing visibility in complex supply chain operations. These factors are expected to boost the demand for efficient warehouse management systems, driving the growth of the connected logistics market.

Increasing Adoption of IoT, Cloud, and Other Technologies Across Industries is Expected to Drive the Growth of the Connected Logistics Market

The successful implementation of connected logistics solutions heavily depends on data communication, cloud, mobility, sensors, and the overall IoT architecture. Rapid advancements in these areas have enabled better connectivity, resulting in the development of connected logistics ecosystems.

The need for better integration, improved process efficiency, real-time reporting, greater visibility, and improved communications drive the adoption of advanced technologies in the connected logistics market. Advances in IoT technology are also expected to support the growth of the connected logistics market. The Internet of Things allows linking individuals and devices across networks, helping improve route design, emergency preparedness, and security. For instance, in the U.S., more than 70% of all goods are transported by trucks. Thus, logistics companies need solutions that can help them manage their truck operations. Location & route management IoT solutions can help monitor the location of the trucks in real time. Routes can also be monitored from remote locations using GPS tracking systems and geofencing techniques, which further helps logistics companies track cargo and ensure timely delivery. Moreover, the real-time notifications provided by these vehicle tracking solutions can alert users about events such as thunderstorms or accidents that may affect shipment status.

Using these technologies, manufacturing, transportation, utilities, and other industries can eliminate delays and other barriers and mitigate risks, streamlining business processes and ensuring customer satisfaction. Thus, the rising need for greater visibility and better inventory management has boosted the adoption of innovative technologies, driving the growth of the global connected logistics market.

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