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A recent report published by Infinium Global Research on IoT powered logistics market provides in-depth analysis of segments and sub-segments in the global as well as regional IoT powered logistics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional IoT powered logistics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global IoT powered logistics market.
IoT-powered logistics revolutionizes the traditional supply chain model by integrating the Internet of Things (IoT) technology to enhance efficiency, visibility, and decision-making. This innovative approach involves embedding smart sensors and devices into various aspects of the logistics process, from vehicles to warehouse infrastructure. In IoT-powered logistics, these interconnected devices collect real-time data on the location, condition, and status of goods and assets throughout the supply chain. This data is then transmitted and analyzed in a centralized system, providing stakeholders invaluable insights into the logistics operations. For instance, sensors on shipping containers can monitor temperature, humidity, and other environmental factors, ensuring the integrity of perishable goods during transit. The impact of IoT on logistics is profound, offering benefits such as improved route optimization, enhanced inventory management, and proactive maintenance of vehicles and equipment. Real-time tracking enables precise delivery time estimates, reducing delays and improving customer satisfaction. Additionally, data analytics derived from IoT devices empower logistics managers to make data-driven decisions, optimize resource allocation, and identify areas for operational improvement. Furthermore, IoT-powered logistics represents a transformative shift in the industry, fostering greater transparency, efficiency, and responsiveness in the movement of goods from the point of origin to the final destination.
The surge in demand for IoT-powered logistics is driven by the imperative for real-time visibility, ensuring enhanced transparency and control over supply chain operations. the demand for real-time visibility in logistics operations has surged as businesses strive for greater transparency and control over their supply chains. IoT sensors and devices enable continuous tracking of shipments, providing real-time data on location, condition, and other crucial metrics. This visibility minimizes the risks of delays, losses, and theft, allowing for proactive decision-making and improving overall supply chain reliability. Additionally, the imperative for enhanced operational efficiency is propelling the growth of the market. The emphasis on enhanced operational efficiency is a driving force behind the adoption of IoT in logistics. Automation and connectivity through IoT devices optimize various processes, from inventory management to route planning. This results in reduced costs, faster delivery times, and a more agile supply chain. As businesses increasingly recognize the transformative potential of IoT in addressing logistical challenges, the market continues to expand driven by the pursuit of real-time insights and operational excellence. However, the concern related to cybersecurity and data privacy may hamper the growth of the market. Furthermore, the growing e-commerce industry offers a lucrative opportunity for growth in the market.
North America is projected to hold the most prominent market share in the upcoming forecast period, this supremacy is attributed to the region's robust technological infrastructure, early adoption of IoT technologies, and a mature logistics sector. Key factors include widespread awareness of the benefits of IoT in optimizing supply chains, strong government initiatives, and a supportive business environment. Moreover, the Asia-Pacific (APAC) region is the fastest-growing market for IoT-powered logistics in the anticipated period. This growth is propelled by factors such as rapid industrialization, expanding e-commerce activities, and a burgeoning demand for efficient supply chain solutions. APAC's diverse and dynamic economies, coupled with increasing investments in IoT technologies, contribute to the region's accelerated adoption. Additionally, the rise of smart cities and initiatives promoting digital transformation further drive the demand for IoT-powered logistics solutions. The region's large consumer base, coupled with a focus on improving operational efficiency, positions APAC as a key growth engine for the IoT-powered logistics market.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 46.24 Billion |
| Market Size by 2030 | USD 116.70 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 12.3% |
| Largest Market | North America |
| No. of Pages | 180 |
| Market Drivers |
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| Market Segmentation | By Component, and By Application |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global IoT powered logistics market covers segments such as component, and application. On the basis of component, the sub-markets include software, and hardware. On the basis of application, the sub-markets include fleet, freight, warehouse, and yard/dock.
The report provides profiles of the companies in the market such as Cisco Systems, Inc., NEC Corporation India Private Limited , Intel Corporation, Honeywell International Inc, Oracle Corporation, Amazon Web Services, Inc, PTC, Sap SE, Microsoft , and IBM Corporation.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the IoT powered logistics market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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