Global IoT in Logistics Forecast to hit $100,985 Million by 2030

by Carolyn Mathas

ResearchAndMarkets just added an IoT in Logistics Market Research Report to its offerings. According to the report, the IoT in logistics market is divided into self-driving vehicles, location management, blockchain for supply chain management, predictive analysis, inventory tracking and warehousing, and fleet management.

From 2014-2019, fleet management contributed the largest revenue to the market. The segment allows for logistics enterprises to manage maintenance and fuel costs more efficiently, improves driver safety, enables real-time fleet visibility, increases vehicle reliability and lifespan, and eliminates driver fraud.

Global IoT in logistics market value is projected to rise from $34,504.8 million in 2019 to $100,984.5 million by 2030. Growth will depend on the continued expansion of the e-commerce industry globally as well as the increased importance of efficiency in logistics operations.

The roadway category held the largest share of the IoT in logistics market in the past, which is expected to continue. For example, approximately 80% and 88% of total logistics activities in the U.S. and European region respectively, are carried out through roadways.

IoT solutions improve the efficiency of logistics operations including efficient management of warehousing and inventory, quick delivery of goods, internal business processes automation, quality of goods, and safe storage. Several major companies are making use of advanced solutions, such as IoT.

The report is comprehensive as to the activities of major companies, geographic regions, rapid digital transformation, and the swift expansion of the e-commerce industry.

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