IoT in logistics Market is Slated to Witness Tremendous Growth in Coming Years

One of the primary drivers behind the swift adoption of IoT in logistics is the rising demand for real-time monitoring and tracking of goods. This capability empowers businesses to enhance their supply chain management and ensure timely product deliveries. IoT-enabled devices like sensors and Radio Frequency Identification (RFID) tags allow companies to track crucial parameters such as location, temperature, and humidity in real-time. This real-time data empowers companies to enhance customer satisfaction, reduce operational costs, and optimize their supply chain operations.

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Additionally, improved supply chain visibility, facilitated by IoT in logistics, contributes to the growth of market revenue. With the help of IoT devices like sensors and RFID tags, businesses can trace their products throughout the entire supply chain, from their origin to their final destination. This heightened visibility enables companies to efficiently manage their inventory, minimize stockouts, and enhance the overall efficiency of their supply chains.

Furthermore, the expansion of cloud-based services is playing a significant role in driving market revenue growth. By seamlessly integrating IoT-enabled devices with their existing systems and leveraging cloud-based IoT platforms to analyze the generated data, companies can optimize their overall business processes and make informed decisions regarding their supply chain operations.

Strategic Development:
In 2021, SAP SE and Daimler Truck AG announced the establishment of a partnership to develop and deliver an intelligent logistics network. The partnership aims to provide seamless and transparent supply chain visibility across all stages of transportation.
In 2021, Intel Corporation acquired the Israeli startup Habana Labs for $2 Billion to strengthen its artificial intelligence (AI) capabilities for edge devices, which are crucial for IoT in logistics applications.
In 2020, Amazon Web Services, Inc. announced the expansion of its IoT services to include Fleet Management, which enables businesses to track and manage their fleets of vehicles and equipment in real-time.
In 2020, IBM Corporation announced the launch of IBM Sterling Supply Chain Suite, which is a suite of supply chain management solutions powered by AI and IoT technologies. The suite is designed to provide end-to-end visibility and control of the supply chain.
In 2020, Samsung Electronics announced the development of its IoT-based logistics platform, Cello Square 4.0. The platform is designed to optimize logistics operations by providing real-time tracking and monitoring of goods and assets.
Competitive Landscape:

IBM Corporation
SAP SE
Oracle Corporation
Intel Corporation
Microsoft Corporation
Samsung Electronics
Amazon Web Services, Inc.
Cisco Systems, Inc.
General Electric Company
Huawei Technologies Co., Ltd.
The global market is further segmented into type and application:

By Component Outlook
Hardware
Software
Services
By Application Outlook
Fleet Management
Warehouse Management
Cold Chain Management
Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
Latin America (Brazil, Rest of LATAM)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The global IoT in logistics market had a size of USD 63.27 billion in 2022, and it is projected to reach USD 163.71 billion by 2032, with an expected revenue compound annual growth rate (CAGR) of 11% during the forecast period. One of the primary drivers behind the swift adoption of IoT in logistics is the rising demand for real-time monitoring and tracking of goods. This capability empowers businesses to enhance their supply chain management and ensure timely product deliveries. IoT-enabled devices like sensors and Radio Frequency Identification (RFID) tags allow companies to track crucial parameters such as location, temperature, and humidity in real-time. This real-time data empowers companies to enhance customer satisfaction, reduce operational costs, and optimize their supply chain operations. Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.reportsanddata.com/download-free-sample/7672 Additionally, improved supply chain visibility, facilitated by IoT in logistics, contributes to the growth of market revenue. With the help of IoT devices like sensors and RFID tags, businesses can trace their products throughout the entire supply chain, from their origin to their final destination. This heightened visibility enables companies to efficiently manage their inventory, minimize stockouts, and enhance the overall efficiency of their supply chains. Furthermore, the expansion of cloud-based services is playing a significant role in driving market revenue growth. By seamlessly integrating IoT-enabled devices with their existing systems and leveraging cloud-based IoT platforms to analyze the generated data, companies can optimize their overall business processes and make informed decisions regarding their supply chain operations. Strategic Development: In 2021, SAP SE and Daimler Truck AG announced the establishment of a partnership to develop and deliver an intelligent logistics network. The partnership aims to provide seamless and transparent supply chain visibility across all stages of transportation. In 2021, Intel Corporation acquired the Israeli startup Habana Labs for $2 Billion to strengthen its artificial intelligence (AI) capabilities for edge devices, which are crucial for IoT in logistics applications. In 2020, Amazon Web Services, Inc. announced the expansion of its IoT services to include Fleet Management, which enables businesses to track and manage their fleets of vehicles and equipment in real-time. In 2020, IBM Corporation announced the launch of IBM Sterling Supply Chain Suite, which is a suite of supply chain management solutions powered by AI and IoT technologies. The suite is designed to provide end-to-end visibility and control of the supply chain. In 2020, Samsung Electronics announced the development of its IoT-based logistics platform, Cello Square 4.0. The platform is designed to optimize logistics operations by providing real-time tracking and monitoring of goods and assets. Competitive Landscape: IBM Corporation SAP SE Oracle Corporation Intel Corporation Microsoft Corporation Samsung Electronics Amazon Web Services, Inc. Cisco Systems, Inc. General Electric Company Huawei Technologies Co., Ltd. The global market is further segmented into type and application: By Component Outlook Hardware Software Services By Application Outlook Fleet Management Warehouse Management Cold Chain Management Others Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region. North America (U.S., Canada, Mexico) Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Rest of APAC) Latin America (Brazil, Rest of LATAM) Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA) To request customization of this report @ https://www.reportsanddata.com/request-customization-form/7672 Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report. Browse More Reports: Virtual Production Market @ https://www.reportsanddata.com/report-detail/virtual-production-market Automated Optical Inspection (AOI) Systems Market @ https://www.reportsanddata.com/report-detail/automated-optical-inspection-aoi-systems-market Particle Size Analyzers Market @ https://www.reportsanddata.com/report-detail/particle-size-analyzers-market Ultrasound Sensors Market @ https://www.reportsanddata.com/report-detail/ultrasound-sensors-market Driver Assistance System (DAS) Locomotive Market @ https://www.reportsanddata.com/report-detail/driver-assistance-system-locomotive-market About Reports and Data Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help clients make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Contact Us: John W (Head of Business Development) Reports and Data | Web:www.reportsanddata.com Direct Line:+1-212-710-1370 E-mail:sales@reportsanddata.com Blogs|Press Release|Industry News|Our competencies Browse MoreUpcoming Reports @https://www.reportsanddata.com/upcoming-reports Browse More Latest Reports @https://www.reportsanddata.com/report

#142 IoT in logistics Market is Slated to Witness Tremendous Growth in Coming Years