About Internet of Things (IoT) in Logistics
The global Internet of Things (IoT) in the Logistics market is expected to witness high demand due to technological advancements that help logistics industry sees a rapid transformation and growth. Internet of Things (IoT) in Logistics is the term which uses for a complete digital, flexible and connected supply chain optimized for e-commerce and last-mile and last-minute delivery. There are various applications of the Internet of Things (IoT) in Logistics such as location management system, inventory tracking and warehousing, predictive analysis, IoT and blockchain for supply chain management, self-driving vehicles and drone-based delivery. With the deployment of innovative technology, digitalization has witnessed enlarged implementation across the transportation and logistics industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 12.5% |
Due to increasing distribution costs as well as logistics overheads over the past few years, there is an increasing demand for automation in logistics. Thus, number of IT infrastructure providers as well as software developers have entered in the market resulting in the increasing competition over the past couple of years. Moreover, threat of new entrants is also maximum since the IoT in logistics can be developed in open source. Thus, the overall competitive rivalry is going to intensify in the forecasting years. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Internet of Things (IoT) in Logistics market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cisco Systems Inc. (United States), Oracle Corporation (United States), Octonion SA (Switzerland), Kaa IoT Technologies, LLC. (United States), Amazon Web Services (United States), International Business Machine (IBM) Corporation, NEC Corporation (Japan), Honeywell International (United States), SAP SE (Germany), Intel Corporation (United States) and Bosch Software Innovations GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Rockwell Automation, Inc. (United States), Novire Technologies (India), BICS SA/NV (Belgium), PTC Inc. (United States), HERE Technologies (Netherlands) and Sigfox (France).
Segmentation Overview
AMA Research has segmented the market of Global Internet of Things (IoT) in Logistics market by , Application (Fleet, Warehouse, Freight and Yard/ Dock) and Region.
On the basis of geography, the market of Internet of Things (IoT) in Logistics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
If we see Market by , the sub-segment i.e. will boost the Internet of Things (IoT) in Logistics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Adoption of Social Media Platforms and Rising Growth in E-Commerce
Market Growth Drivers:
Fueling Use of Internet and Increasing Awareness of IoT solutions
Challenges:
Vigilant Government Rules and Regulations
Restraints:
Lack of Skilled Professionals and High Cost of Internet of Things in Logistics
Opportunities:
Technological Advancement such as Drone Based Delivery in Internet of Things in Logistics and Rising Opportunities in Emerging Country
Market Leaders and their expansionary development strategies
In May 2023, Global law firm Dentons has advised Giesecke+Devrient (G+D), the international security technology group, on its acquired MECOMO AG (MECOMO). Through the acquisition, G+D aims to expand its product portfolio for the Internet of Things and become an IoT solution provider with a complete end-to-end portfolio for customers in the transport and logistics sector. G+D is specifically investing in the logistics industry as one of the largest and fastest growing segments within the IoT market.
In February 2023, KORE, a global leader in Internet of Things Solutions and worldwide IoT Connectivity-as-a-Service launched and demonstrate its new technology software MODGo, which provides a unified, digital approach to IoT asset management, at Mobile World Congress Barcelona. This cutting-edge solution provides a streamlined approach to managed services, designed to help organizations overcome the challenges of IoT implementation and management.
Key Target Audience
Internet of Things Logistics Service Provider, Large, Medium-Sized and Small Enterprises, Venture Capitalists, Industry Association Related With Internet of Things Logistics, Investors, Government Regulatory Bodies, Government and Private Research Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.