Published on : Oct 04, 2016
ALBANY, New York, Oct 04, 2016: ResearchMoz.us has recently announced the inclusion of a new market research report to its comprehensive collection of research studies. The 67-page research report, titled “Global IT Spending in Cold Chain Logistics Market 2016-2020,” offers a thorough analysis of the market. The product segmentation, growth drivers, limitation, geographical segmentation, and the competitive landscape of the global IT spending in cold chain logistics market have been discussed in the research study.
As per the research report, the global market for IT spending in cold chain logistics is projected to register an 8.0% CAGR between 2016 and 2020. The growing need to improve connectivity and reduce energy consumption and efficient administration of temperature sensitive products are some of the key factors expected to drive the market in the next few years. On the other hand, the lack of required ICT infrastructure, issues related to technical glitches, and cyber security risks are projected to restrict the growth of the global IT spending in cold chain logistics market throughout the forecast period. Nevertheless, the upsurge in mobile technology and the emergence of cloud computing are expected to generate several opportunities in the near future.
On the basis of technology, the global market for IT spending in cold chain logistics has been classified into software, hardware, and IT services spending. As per the research study, the software spending segment is estimated to lead the global market and register an 8.0% CAGR between 2016 and 2020. The rising implementation of on-premise cloud computing solutions is one of the key factors expected to augment the growth of this segment in the global market. Some of the advanced IT innovations are M2M applications, Internet of Things-enabled applications, and predictive analytics in a cloud-based IT architecture.
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In 2015, the Americas led the global IT spending in cold chain logistics market and held a share of more than 48%. This region is expected to remain in the leading position in the next few years, owing to the robust ICT infrastructure and improved connectivity to different locations across the globe. With the introduction of strict regulatory guidelines, cold chain service providers are expected to boost the demand for IT solutions, including smart sensors and IT security, thus augmenting the growth of the IT spending in cold chain logistics market in Americas.
The global market for IT spending in cold chain logistics bears stiff competition with the presence of a large number of players operating in the market. The emergence of cloud-based logistics solutions in order to boost their market shares is expected to offer lucrative opportunities for the key players. In order to sustain in the market, the market players need to invest in developing customized and innovative smart connected devices to build capabilities and support industrial Internet of Things. The prominent players in the global IT spending in cold chain logistics market include SAP, Oracle, AT&T, Accenture, and Cisco. Some of the other key players included in the research study are Siemens, ORBCOMM, TCS, IBM, BT9, Tech Mahindra, Infosys, Vitria, and Gemalto.
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