Rise in Adoption of Connected Devices and Growing E-commerce Industry to Proliferate IoT in Logistics Market

NOIDA, India, September 28, 2022 /PRNewswire/ — According to a new report by UnivDatos Markets Insights, the IoT in the logistics market was thoroughly appreciated $39 billion in 2020 and is expected to grow at a CAGR of around 13% from 2022 to 2028. The analysis was divided into type (hardware, software and services); Application (fleet management, inventory tracking and warehousing, blockchain for supply chain management, location management and others); Industries (Aerospace, Defense, Retail, Food & Beverage, Automotive, Healthcare, and others); organization type (small and medium-sized enterprise (SME) and large enterprise); Area.

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The IoT in Logistics market report is compiled by collecting informative data about various dynamics such as market drivers, restraints, and opportunities. This innovative report leverages multiple analyzes to provide a more in-depth look at the IoT in the logistics market. The IoT in Logistics Market report provides a detailed analysis of the latest industry developments and market trending factors affecting market growth. Additionally, this statistical market research repository studies and estimates the IoT in Logistics Market on a global and regional scale.

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Market Overview

Businesses are readily adopting IoT in logistics solutions for their regular logistics and supply chain operations to better serve their customers. The IoT in the logistics market is growing rapidly due to the increasing demand for digital fleet management, which is cost-effective logistics and supply chain solutions in various industries. Furthermore, rising customer expectations along with measures to control logistics costs are playing a crucial role in shaping the future of IoT in logistics market. Therefore, the demand for IoT in logistics is growing due to the rapid expansion of the global e-commerce industry and the increasing need for efficiency gains in logistics companies.

IoT in logistics market is expected to grow steadily by around 13% during the forecast period (2022-2028). With increasing integration of ICT and IoT, the transportation and logistics industry has presented a new opportunity to automate equipment and infrastructure to improve operational efficiencies.

Some of the major players in the market are Amazon.com Inc., IBM Corporation, Intel Corporation, AT&T Inc., PTC Inc., Hexagon A, Eurotech SpA, Cisco System Inc., SAP SE and Honeywell International Inc.

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Effects of COVID-19

Due to travel restrictions and forecast gloomy financial performance of market participants in 2020, the spread of COVID-19 pandemic had damaged IoT in logistics industry to some extent. The logistics chains are facing unusual and massive losses due to the disruptions caused by the COVID-19 pandemic. The closure of factories and the lack of workers to unpack cargo and drivers to operate trucks for cargo handling have derailed trade and the smooth functioning of the logistics industry. However, the digitization of core business activities such as fleet monitoring, documentation, seamless communication networks, revenue management and building digital foundations by modernizing systems in the COVID times has helped logistic companies to shorter innovation cycles, agility and quick solutions. Therefore, the acceptance of advanced systems and solutions increased during the analysis period.

Click here for the report description and table of contents

https://univdatos.com/report/iot-in-logistics-market/

The global IoT in Logistics market report is thoroughly studied with several aspects that would help the stakeholders to make their decisions in a more curated way.

  • Based on the type, the market is segmented into hardware, software and services. Service category to register a significant CAGR during the forecast period. This is because the IoT connectivity management platform helps reduce the operational workload for companies that deploy and scale their IoT with a managed cellular connection service.
  • Based on the application, the market is segmented into fleet management, inventory tracking and warehousing, blockchain for supply chain management, location management, and others. Among these, fleet management will occupy a significant market share in 2020. This is mainly because fleet management improves driver safety, prevents driver fraud, extends vehicle life and allows logistics organizations to manage fuel and maintenance costs more effectively.
  • On the basis of organization type, the market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. The large enterprises had a significant share of the global IoT middleware market in 2020, mainly due to the increasing adoption of the IoT by large enterprises. The IoT helps companies in many ways, e.g. B. in inventory management, inventory tracking, creation of new product lines, cost reduction, real-time insights on the go and others.
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IoT in Logistics Market Geographical Segmentation Includes:

  • North America (United States, Canadaand rest of North America)
  • Europe (Germany, United Kingdom, Spain, Italy, Franceand the rest of Europe)
  • Asia Pacific (China, Japan, Indiaand the rest of Asia Pacific)
  • rest of the world

APAC is expected to grow at a substantial CAGR over the forecast period. This is mainly due to rapid urbanization and changing consumer behavior, especially in India and China drive the growth of the market. In addition, IoT devices are also becoming smaller, more affordable and more powerful, making them more customer-friendly and consequently more popular in the region. The APAC region is expected to see an increase in the deployment of IoT solutions in the logistics industry due to these technical breakthroughs and the expansion of logistics activities. In addition, the proliferation of retail and logistics companies in many developing countries along with technological advances has created a demand for IoT in the logistics industry.

Major players targeting the market include

  • Amazon.com Inc.
  • IBM Corporation
  • Intel Corporation
  • AT&T Inc.
  • PTC Inc.
  • Hexagon AB
  • Eurotech SpA
  • Cisco Systems Inc.
  • SAPSE
  • Honeywell International Inc.

competitive landscape

The level of competition among prominent global companies has been elaborated through the analysis of several leading key players operating worldwide. The specialist team of research analysts throws light on various features such as global market competition, market share, latest industry advances, innovative product launches, partnerships, mergers or acquisitions by leading companies in the Logistics IoT market. Key players have been analyzed using research methodologies to provide insights into global competition.

Key Questions Answered by This Analytical Market Research Report Include:

  • What are the latest trends, new patterns, and technological advancements in the IoT in Logistics market?
  • What factors are affecting the IoT in logistics market during the forecast period?
  • What are the Global IoT Challenges, Threats and Risks in the Logistics Industry?
  • Which factors are driving and inhibiting the IoT in the logistics market?
  • What are the challenging global regions of the IoT in Logistics Market?
  • How big will the global market be in the coming years?
  • What are the crucial market acquisition strategies and policies employed by global companies?
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IoT in the logistics market report coverage

report attributee

details

base year

2021

forecast period

2022-2028

growth dynamics

Accelerate with a CAGR of over 13%

Market size 2020

$39 billion

Regional Analysis

North America, Europe, APAC, Rest of World

Main Contributing Region

North America dominates the world IoT in the logistics market

Key countries covered

United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan and India

company profiled

Amazon.com Inc., IBM Corporation, Intel Corporation, AT&T Inc., PTC Inc., Hexagon A, Eurotech SpA, Cisco System Inc., SAP SE, Honeywell International Inc.

report scope

Market Trends, Drivers and Constraints; sales estimation and forecasting; segmentation analysis; impact of COVID-19; demand and supply analysis; Ccompetitive landscape; company profiling

Covered Segments

By type; By application, by industry, by organization type; By region/country

About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a passionate market research company and a subsidiary of Universal Data Solutions. We believe in providing insights through market research reports, custom business research and primary research. Our research studies are spread over subjects all over the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We provide in-depth studies, in-depth analysis, and customized reports that help create winning business strategies for our clients.

Contact

UnivDato’s Market Insights
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Operations Director
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