Kenneth Research examined the statistical and analytical approach that is required for the growth of Worldwide IoT in Logistics Market between the years 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.
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 Worldwide IoT in Logistics Market products.
Factors such as the growing trade of semiconductors for use in different consumer electronic products, along with the growing trend of automation and IoT, which is raising the need for the deployment of advanced electronic chipsets, therefore the advancement in the trade of semiconductors. According to the statistics by World Semiconductor Trade Statistics (WSTS), semiconductor billings around the globe per 12 months rolling average increased from around USD 250 billion in the year 2010 to around USD 460 billion in the year 2019.
Worldwide IoT in Logistics Market – Drivers, Opportunities, Trends, and Forecasts, 2016–2022
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.
According to Research, 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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