Internet of Things (IoT) in Logistics Market 2021 Growth and Business Prospects, Industry Size, Forecast by Share, Revenue, Development Status, Demand by Regions 2030

In a recent published report, Kenneth Research has updated the market report for Internet of Things (IoT) in Logistics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Internet of Things (IoT) in Logistics Market products.

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According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.

The Internet of Things (IoT) is a network which connects objects via embedded electronics, sensors, and network connectivity. The IoT in logistics market is a multibillion market. It is helping the companies to take critical business decisions, optimize the production, reduce the production cost and minimize the raw material cost. The real time monitoring of the logistics operations and improved supply chain are few of the factors which are driving the market. Still, the lack of skilled labour, high cost, and vigilant government rules and regulations are impacting the growth of the market. 

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.

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the “Worldwide IoT in Logistics” Market will grow at an estimated CAGR of 35.5% during the forecast period 2016–2022. 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 Corporation, XPO Logistics and Cisco Systems, NC. The research report provides a comprehensive review of technologies, services, solutions and end-users. The report will also cover the market in terms of trends, regions and vendor assessment.

The study covers and analyzes the “Worldwide IoT in Logistics” market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.

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