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.
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-growing 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 spending 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
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.
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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.
Key Segments Covered in the IoT Spend by Logistics Industry Report
IoT Spend by Logistics Industry by Components:
IoT Spend by Logistics Industry by Organization Size:
IoT Spend by Logistics Industry by Application:
IoT Spend by Logistics Industry by Region:
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Jan 31, 2023