Internet of Things (IoT) in Logistics Market: Global Industry Analysis and Forecast (2022-2029)

Internet of Things (IoT) in Logistics Market size was valued at US$ 44.24 Bn. in 201 and the total revenue is expected to grow at 13.25 % through 2021 to 2029, reaching nearly US$ 119.72 Bn.
Internet of Things (IoT) in Logistics Market Overview:
For logistics operators, their corporate customers, and end consumers, the Internet of Things (IoT) promises significant benefits. It has a favourable impact on operational efficiency, safety and security, customer experience, and new business models, among other areas. These advantages are available throughout the logistics value chain, which includes warehousing, freight transportation, and last-mile delivery. These elements are likely to become inseparable fundamentals in the logistics business in the coming decades, impacting the Internet of Things (IoT).To know about the Research Methodology:- Request Free Sample Report
Internet of Things (IoT) in Logistics Market Dynamics:
One of the major trends in the IoT in logistics industry is rapid digitization. Data analytics, robots, analytics, and self-driving technologies are all making inroads in the trucking and logistics industry, with the goal of improving operational efficiency and addressing other concerns including the scarcity of truck drivers. Additionally, the use of robotics in warehousing, supply chain management, machine learning, and data analytics is becoming more common as a means of addressing the overall labour shortage and improving technical efficiency. In logistics operations, such digitization methods constitute a big market trend.

The e-commerce business is booming around the world, and it now accounts for a considerable portion of the retail market. In 2021, the e-commerce sector contributed for 16.5 percent of all retail sales, up about 17.9% from the previous year. Also, by 2021, e-commerce sales are estimated to account for roughly 17% of total retail sales globally. Customers' buying behaviour and expectations have changed, and they now anticipate rapid and free shipping as well as competitive product pricing, resulting in an increase in demand for e-commerce services. Several organisations have begun adding IoT services into their logistics activities in order to adapt with changing consumer behaviour, with the goal of managing uneven shipment, a rapid order spike, and time-sensitive orders.

The efficiency of logistics operations is improved by IoT solutions, which is a primary driver for the IoT in logistics market. The efficient administration of inventory and warehousing, internal business process automation, timely delivery of goods, safe storage, and quality of goods determine the success of any logistics organisation. As a result, it appears that implementing novel technologies, such as IoT, in logistics operations, is becoming increasingly necessary. By enabling for smart location management, tracking driver actions, updating delivery status, and inventory tracking and warehousing, IoT aids in enhancing efficiency.

However, the global rise of IoT in the logistics business is being hampered by a shortage of qualified workers, expensive costs, and strict government laws and regulations.
Internet of Things (IoT) in Logistics Market Segment Analysis:
Based on the Organization Size, the Internet of Things (IoT) in Logistics market is sub-segmented into Large Enterprises and SMEs. The Large Enterprises segment held the largest market share of xx% in 2021. This is because major companies have a much higher IoT prevalence in logistics operations than small and medium businesses (SMEs), due to the latter's easier access to IoT solutions.

Based on the Application, the Internet of Things (IoT) in Logistics market is sub-segmented into Warehouse, Freight, Yard/dock, Fleet and Others. The Fleet segment held the largest market share of xx% in 2021. Fleet management helps logistics organisations better manage fuel and maintenance costs, gives real-time visibility of the fleet, improves driver safety, eliminates driver frauds, and prolongs the life of vehicles, which drives individual category growth in the IoT in logistics market. By using IoT technology, logistics businesses may perform these fleet management duties more efficiently.
Internet of Things (IoT) in Logistics Market Regional Insights:
North America held the largest market share of xx% in 2021. In recent years, the region has seen the most digital revolution, which has helped the industry grow significantly. Additionally, due to growing internet penetration, including the 5G network, and growing potential for e-commerce, the adoption rate of IoT solutions in the logistics industry is increasing, with dozens of companies accessing the region's IoT scene. Additionally, increased efforts to train and educate professionals about near-field communication (NFC), radio-frequency identification (RFID), robotics, artificial intelligence (AI), and low-power wide-area network (LPWAN) technologies, as well as increased branding and promotion activities for these technology solutions, increase the opportunity for new competitors and innovators in the region's IoT in logistics market.

Asia Pacific is expected to grow at a highest CAGR of xx% in the global Internet of Things (IoT) in Logistics market during the forecast period. This could be due to shifting consumer habits and the fast industrialization of rising economies like India and China. These reasons are causing technical advancements in the regional logistics business, such as the introduction of AI, RFID, NFC, robotics, radio codecs, low-energy Bluetooth, low-energy wireless, and Wi-Fi-direct.

The objective of the report is to present a comprehensive analysis of the global Internet of Things (IoT) in Logistics Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the global Internet of Things (IoT) in Logistics Market dynamic, structure by analyzing the market segments and project the global Internet of Things (IoT) in Logistics Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Internet of Things (IoT) in Logistics Market make the report investor’s guide.
Internet of Things (IoT) in Logistics Market Scope: Inquire before buying



Global Internet of Things (IoT) in Logistics Market


Base Year
2021
Forecast Period
2022-2029


Historical Data
CAGR
Market Size in 2021
Market Size in 2029


2017 to 2021
13.25%
US$ 44.24 Bn
US$ 119.72 Bn


Segments Covered


by Software
• Resource Monitoring
• Safety and Security
• Traffic and Fleet Management
• Others
by Hardware
• GPS Tracking Devices
• RFID Tags
• Sensor Nodes
• Others
by Organization Size
• Large Enterprises
• SMEs
by Application
• Warehouse
• Freight
• Yard/dock
• Fleet
• Others


Regions Covered


North America
• United States
• Canada
• Mexico
Europe
• UK
• France
• Germany
• Italy
• Spain
• Sweden
• Austria
• Rest of Europe
Asia Pacific
• China
• S Korea
• Japan
• India
• Australia
• Indonesia
• Malaysia
• Vietnam
• Taiwan
• Bangladesh
• Pakistan
• Rest of APAC
Middle East and Africa
• South Africa
• GCC
• Egypt
• Nigeria
• Rest of ME&A
South America
• Brazil
• Argentina
• Rest of South America



Internet of Things (IoT) in Logistics Market Key Players are:
• 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.
• Octonion SA.
Frequently Asked Questions:
1] What segments are covered in Internet of Things (IoT) in Logistics Market report?
Ans. The segments covered in Internet of Things (IoT) in Logistics Market report are based on Software, Hardware, Organization Size and Application.

2] Which region is expected to hold the highest share in the Internet of Things (IoT) in Logistics Market?
Ans. North America is expected to hold the highest share in the Internet of Things (IoT) in Logistics Market.

3] What is the market size of Internet of Things (IoT) in Logistics Market by 2029?
Ans. The market size of Internet of Things (IoT) in Logistics Market is expected to reach US $ 119.72 Bn. by 2029.

4] Who are the top key players in the Internet of Things (IoT) in Logistics Market?
Ans. Amazon Web Services Inc., IBM Corporation, Intel Corporation, AT&T Inc., PTC Inc., Hexagon AB, and Eurotech S.p.A. are the top key players in the global Internet of Things (IoT) in Logistics Market.

5] What was the market size of Internet of Things (IoT) in Logistics Market in 2021?
Ans. The market size of Internet of Things (IoT) in Logistics Market in 2021 was US $ 44.24 Bn.