From GlobeNewswire: 2024-04-12 10:50:00

Coherent Market Insights released a report on the Global Live Package Tracking Market, valued at $3.92 billion in 2023 and expected to reach $8.60 billion by 2030, growing at 11.9% CAGR. The market is driven by the growing e-commerce industry and demand for real-time package tracking for customer satisfaction and efficient logistics. Advanced technologies like IoT and RFID are being adopted to enhance tracking capabilities.

Key trends in the market include the integration of AI and machine learning for accurate delivery predictions and the rise of same-day delivery. Opportunities lie in advanced technologies in supply chain management, with RFID, GPS, and sensors enhancing operational efficiency. Recent developments include project44’s purchase of Ocean Insight to improve visibility in ocean freight and FourKites collaboration with Overhaul for real-time tracking.

The Live Package Tracking Market is projected to grow at a CAGR of 11.9% from 2023 to 2030, driven by the demand in the e-commerce sector and advanced supply chain management technologies. Software dominates the segment due to real-time tracking capabilities, while barcode technology is preferred for cost-effectiveness. North America leads the market, and key players such as UPS and FedEx are enhancing their tracking systems for real-time package tracking.



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