Internet of Things (IoT) in Logistics Market Scope
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.
According to AMA, the Global Internet of Things (IoT) in Logistics market is expected to see growth rate of 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. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Internet of Things (IoT) in Logistics market throughout the predicted period.
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 are Rockwell Automation, Inc. (United States), Novire Technologies (India), BICS SA/NV (Belgium), PTC Inc. (United States), HERE Technologies (Netherlands) and Sigfox (France).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Internet of Things (IoT) in Logistics market , by Application (Fleet, Warehouse, Freight and Yard/ Dock) and Region with country level break-up.
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 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 27th December 2018, NEC Corporation has acquired Danish IT Company KMD Holding ApS, one of the world’s largest and most experienced private equity investors. The deal was establish for 8 billion. and On 17th October 2018, NEC Corporation had announced strategic collaboration with Arm Limited (Arm) to boost development of secure Internet of Things (IoT) solutions for Smart Cities using artificial intelligence (AI).
On 6th March 2018, Honeywell has announced collaboration with Kuehne + Nagel world's leading logistics providers for global modernization initiatives for connected distribution centers. and On 29th March 2018, HERE Technologies and Sigfox has announced a collaboration to improve and deploy a global location service that will open new opportunities for Internet of Things (IoT) applications, particularly in supply chain and logistics.
- Adoption of Social Media Platforms
- Rising Growth in E-Commerce
- Fueling Use of Internet
- Increasing Awareness of IoT solutions
- Technological Advancement such as Drone Based Delivery in Internet of Things in Logistics
- Rising Opportunities in Emerging Country
- Lack of Skilled Professionals
- High Cost of Internet of Things in Logistics
- Vigilant Government Rules and Regulations
Key Target AudienceInternet 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