Global Internet of Things (IoT) in Logistics Market Review, Growth, Demand, Insights And Forecast 2027
Global Internet of Things (IoT) in Logistics Market size was valued at US$ 39.07 Bn. in 2020 and the total revenue is expected to grow at 13.25 % through 2021 to 2027, reaching nearly US$ 93.36 Bn.
Internet of Things (IoT) in Logistics Market Overview:
The Global Internet of Things (IoT) in Logistics Market The Internet of Things (IoT) promises enormous benefits to logistics operators, their corporate customers, and end consumers. It benefits, among other things, operational efficiency, safety and security, customer experience, and new business models. These benefits apply throughout the whole logistics value chain, including warehousing, freight transportation, and last-mile delivery. In the coming decades, these features are likely to become inseparable basics in the logistics industry, with implications for the Internet of Things (IoT).
Historical & Forecast Period:
Maximize Market Research report presents the analysis of each segment from 2021 to 2027 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2020to 2027.
Internet of Things (IoT) in Logistics Market Overview and Dynamics:
The report covers comprehensive data on market drivers, restraints, emerging trends, and growth opportunities that can change the market dynamics of the end use industry. It provides an in-depth analysis of the Internet of Things (IoT) in Logistics Market segments which include products, applications, and competitor analysis.
Rapid digitalization is one of the most important IoT trends in the logistics business. Data analytics, robots, analytics, and self-driving technology are all making inroads in the trucking and logistics industry, with the goal of boosting operational efficiency and tackling other issues such as truck driver shortages. Robotics in warehousing, supply chain management, machine learning, and data analytics are also becoming more widespread as a way to alleviate the overall labour shortage and improve technological efficiency. Such digitalization technologies are a key industry trend in logistics operations.
Around the world, the e-commerce industry is booming, and it currently accounts for a significant percentage of the retail market. E-commerce accounted for 16.5 percent of total retail sales in 2019, up 17.9 percent from the previous year. E-commerce sales are expected to account for around 17% of total retail sales globally by 2021. Customers' purchasing habits and expectations have shifted, and they now expect fast and free shipping as well as competitive product price, resulting in a surge in demand for e-commerce services. Several companies have begun incorporating IoT services into their logistics operations in order to react to changing consumer behaviour, with the purpose of managing uneven shipment, a sudden rise in orders, and time-sensitive requests.
IoT solutions improve the efficiency of logistics operations, which is a major driver for the IoT in logistics market. The success of any logistics organisation is determined by the efficient management of inventory and warehousing, internal business process automation, timely delivery of goods, safe storage, and quality of goods. As a result, it appears that incorporating novel technology into logistics operations, such as the Internet of Things (IoT), is becoming increasingly vital. IoT helps to improve efficiency by allowing for smart location management, tracking driver actions, updating delivery status, and inventory tracking and warehousing.
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Segmentation:
The logistics market for the Internet of Things (IoT) is divided into two segments: large enterprises and small businesses. In 2020, the Large Enterprises segment had the highest market share of percent. Because SMEs have better access to IoT solutions, major corporations have a far greater IoT prevalence in logistics operations than small and medium businesses (SMEs).
Warehouse, Freight, Yard/dock, Fleet, and Others are the sub-segments of the Internet of Things (IoT) in Logistics market. In 2020, the Fleet category had the greatest market share of percent. Fleet management helps logistics organisations better manage fuel and maintenance costs, provides real-time visibility of the fleet, improves driver safety, eliminates driver fraud, and extends the life of vehicles, all of which contribute to the IoT in logistics market's individual category growth. Logistics companies may be able to conduct these fleet management tasks more efficiently by utilising IoT technologies.
Key Players:
• Amazon Web Services Inc.
• IBM Corporation
• Intel Corporation
• AT&T Inc.
• PTC Inc.
• Hexagon AB
• Eurotech S.p.A.
• Cisco System Inc.
• Veridify Security Inc.
• ORBCOMM Inc.
• E2open, LLC
• NEC Corporation
• Honeywell International Inc.
• Qualcomm Inc.
• Microsoft Corp.
• SAP SE
• Oracle Corp.
Regional Analysis:
Regional analysis is another highly comprehensive part of the research and analysis study of the Internet of Things (IoT) in Logistics Market presented in the MMR report. Local development plans are often affected by the performance of Internet of Things (IoT) in Logistics market. Our report briefly explains all the factors, market size, growth rate, import and export in regions covering North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. This research has provided market trends, key opportunities, factors affecting of particular regions, to examine the global and domestic Internet of Things (IoT) in Logistics market and these findings have been strategically presented in the report.
Competition Landscape:
Most of the key players present in the Internet of Things (IoT) in Logistics Market are focusing on mergers and acquisitions to expand their geographic presence and gain a competitive edge. Meanwhile, some of the other players are updating their existing product portfolios and adding innovative screens to keep up with the high consumer demand and generate more sales.
Key questions answered in Internet of Things (IoT) in Logistics Market report
- What was the market size of Internet of Things (IoT) in Logistics Market in 2020 and forecast up to 2027?
- Which is the largest regional Internet of Things (IoT) in Logistics Market?
- What are the major trends followed in Internet of Things (IoT) in Logistics Market across different regions?
- Who is the key Internet of Things (IoT) in Logistics Market companies leading the market?
- What are the key strategies adopted by the leading Internet of Things (IoT) in Logistics Market companies in market?
- Unique data points of this report
- Statistics on Internet of Things (IoT) in Logistics Market penetration and spending worldwide
- Recent trends across different regions in terms of adoption of Internet of Things (IoT) in Logistics Market for various end-use.
- Notable developments going on in Internet of Things (IoT) in Logistics Market
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2020 (actual) and 2027 (forecast)
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