Worldwide IoT in Logistics Market to grow at a CAGR of 35.5% over the period 2016–2022 to aggregate $1,050.95 billion by 2022
The demand for transparent logistic operations by the end-users such as retail, food & beverage industries is driving the IoT in logistics market. The IoT in logistics solution market is expected to reach $569.83 billion by 2022.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Worldwide IoT in Logistics Market: Drivers, Opportunities, Trends, and Forecasts, 2016–2022” (September 2016).
According to Infoholic Research, the perishable goods industry such as food & beverages, and healthcare industry will drive the IoT in logistics market. As per the study, the market will experience a significant growth in the coming years due to the increase in the government investments, demand for transparent logistics operations, and need to improve Just in Time (JIT). The Worldwide IoT in Logistics market is expected to grow at a CAGR of 35.5% during the period 2016–2022 to touch an aggregate of $1,050.95 billion by 2022.
Image: Y-O-Y graph of IoT in Logistics Market. Few of the values are hidden. You can find the complete report at Infoholic Research.
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The IoT in logistics market is driven by the end-users such as aerospace & defense, retail, food & beverages, automotive and healthcare industry. The food & beverage market is expected to reach $46.91 billion by 2020, and by 2022 it is estimated to reach a massive $290.17 billion, mainly driven by the Americas region. The growth of the market is supported by the cellular technologies such as 3G and 4G in developed economies. The cellular network technologies are expected to reach $399.26 billion by 2022. The market is witnessing a significant growth in the consultancy services also. It is expected that consultancy services market will reach $110.61 billion by 2022.
Image: Cellular Network Technology and consultancy services market growth by 2022.
The cellular network technologies are expected to reach $399.26 billion by 2022. The market is witnessing a significant growth in the consultancy services also. It is expected that consultancy services market will reach $110.61 billion by 2022.
“The IoT in logistics is a rapidly growing market, especially in the emerging markets such as Asia Pacific. The growing regional government investments to improve the ICT infrastructure in their respective countries is one of the key factors which is supporting the growth of the market in the region. The technologies such as 2G, 3G, RFID and NFC are witnessing a steady growth in the IoT in logistics market in the region. Globally, the companies are investing a lot in the vehicle tracking and route optimization technologies in order to lower the operating costs and reduce their carbon footprint.” – Tariq Ahmed. Shaik, Research Manager at Infoholic Research
Currently, the industry verticals such as aerospace & defense, retail, food & beverages, healthcare and the automotive have started adopting IoT solutions for their logistics operations. In order to track the floor activities and transport activities, the companies are utilizing the connectivity technologies. Some of the technologies which are being used are cellular network technologies (2G, 3G, 4G), Wi-Fi, Bluetooth, GPS, GPRS, NFC and RFID. The companies are also utilizing the IoT technology for fleet management and tracking and monitoring applications.
At present, North America is leading the market, and Asia Pacific is one of the fastest growing regions. Some of the key players covered in the report are IBM Corporation, Microsoft Corporation, Intel, SAP, FedEx, XPO Logistics Inc., ICC Logistics Services, Innovation Express Pvt. Ltd., HCL Technologies, etc.
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Scope of the Report:
The research report categorizes the “Worldwide IoT in Logistics” market into the following segments and sub-segments:
- Technologies: Market Size and Analysis
- Cellular Network Technologies
- Short Range Technologies
- Radio Frequency Identification (RFID)
- Near Field Communication(NFC)
- Services: Market Size and Analysis
- Consulting Services
- Maintenance Services
- Integration Services
- Solutions: Market Size and Analysis
- Fleet Management
- Tracking & Monitoring
- Route Optimization
- End-users: Market Size and Analysis
- Aerospace & Defense
- Food & Beverages
- Regions: Market Size and Analysis
- Western Europe
- Asia Pacific
- Eastern Europe, Middle East, and Africa (EEMEA)
- Cellular Network Technologies
The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report not only highlights users’ conundrum but also brings in their perspective on the market. This market has been analyzed by taking into account the key regions – Americas, Western Europe, Asia Pacific, and EEMEA
- The report analyzes the market according to the technologies, solutions, services and end-users
- The report analyzes the top 10 players in terms of market reach, business strategy, and business focus
- Competitive benchmarking analysis to optimize short term and long term strategy of the organizations
- Stakeholders’ insights and key trends (current and future) of the market