The global IoT
spend by logistics industry market is estimated at
US$ 35.2 Billion in
2021 and is projected to reach US$ 39.6
Billion by 2022. The market is
expected to reach US$ 114.7 Billion by 2032 while recording
a CAGR of 11.2% during the forecast
period from 2022 to 2032. With the ever increasing volume of
domestic and foreign trade, industries are investing in
technologically advanced logistics solutions to reduce
downtime and ensure safe and fast delivery of goods and
services.
During the historical period ranging
from 2016 to 2021, IoT spend by the logistics industry
experienced an impressive increase at a CAGR of 12%. During
the said historical period, the industry experienced a
dollar opportunity worth more than US$ 75 Billion. By the
end of 2022, the market is poised to reach a valuation of
US$ 39.6 Billion.
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With
IoT, logistics management becomes a holistic process,
allowing data from sensors to be collected and presented in
an organized, concise manner. Planning and budgeting are
improved by real-time delivery and inventory monitoring. IoT
logistics applications provide detailed data that allows
managers to identify inefficiencies early in the logistics
process, reduce waste, and always stay on top of the
logistics process.
Key Takeaways from
the Market Report
- The global IoT
spend by logistics industry market is expected to expand
nearly 3x until 2032 - By component, IoT
logistics spend hardware to expand at a CAGR of 11% during
the forecast period - The U.S. market is
projected to grow at a CAGR of 11.1% over the forecast
period, reaching US$ 19.7 Billion. - India is
estimated to grow at a 13% CAGR during
the forecast period. - U.K is expected to reach
a CAGR of 12.1% during the forecast
period between 2022 and
2032.
Competitive
Landscape
Key Players that have been
profiled in the report are Amazon Web Services, BICS SA/NV,
Bosch Software Innovations GmbH, Cisco Systems Inc.,
Honeywell International, Intel Corporation, IBM Corporation,
Kaa IoT Technologies, LLC., NEC Corporation, Novire
Technologies, Octonion SA, Oracle Corporation, PTC Inc.,
Rockwell Automation, Inc. and SAP SE. Innovative products
and technologies will allow customers to benefit from new
technologies.
- In October 2021, DB
Schenker was announced as the winner of the Cisco 2021
Excellence in Global Logistics award. As part of Cisco’s
annual Supplier Appreciation Event (SAE), the brand revealed
the award winners. For the second year in a row, the 30th
anniversary of SAE was virtually broadcast on Cisco TV on
September 14, 2021. It recognizes DB Schenker for providing
Cisco with collaborative solutions that enhance Cisco’s
business strategies and for demonstrating excellence in
operating performance, innovation, and
collaboration. - A new feature will be added to
Oracle Fusion Cloud Supply Chain & Manufacturing (SCM)
in February 2022. This will help organizations become more
efficient in their global supply chains. By updating Oracle
Fusion Cloud Transportation Management and Oracle Fusion
Cloud Global Trade Management, organizations can improve
customer experiences, reduce costs, and be more flexible
during disruptions in
business.
More Valuable
Insights Available
Future Market
Insights, in its new offering, presents an unbiased analysis
of the global IoT Spend by Logistics Industry market,
presenting historical market data (2016-2021) and forecast
statistics for the period of
2022-2032.
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Key
Segments Covered in the IoT Spend by Logistics Industry
Report
IoT Spend by Logistics
Industry by Components:
- IoT Logistics
Spend Software - IoT Logistics Spend
Hardware
IoT Spend by Logistics Industry
by Organization Size:
- IoT Logistics
Spend for Small-Mid-sized Organizations - IoT
Logistics Spend for Large-sized
Organizations
IoT Spend by Logistics
Industry by Application:
- IoT Logistics
Fleet Spend - IoT Logistics Warehouse
Spend - IoT Logistics Freight Spend
- IoT
Logistics Yard/Dock Spend
IoT Spend by
Logistics Industry by Region:
- North
America IoT Spend by Logistics Industry
Market - Europe IoT Spend by Logistics Industry
Market - Asia Pacific IoT Spend by Logistics Industry
Market - Middle East and Africa IoT Spend by Logistics
Industry Market - South America IoT Spend by Logistics
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