PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1462738
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1462738
IoT Powered Logistics Market Forecasts to 2030 - Global Analysis By Component (Hardware, Software, Services and Other Components), Application, End User and By Geography
According to Stratistics MRC, the Global IoT Powered Logistics Market is accounted for $52.8 billion in 2023 and is expected to reach $134.5 billion by 2030 growing at a CAGR of 14.3% during the forecast period. IoT-powered logistics integrates Internet of Things (IoT) technology into supply chain management, enhancing efficiency and visibility. Sensors and devices are deployed throughout the supply chain, tracking and monitoring goods in real-time. This enables precise inventory management, predictive maintenance of vehicles and equipment, and optimization of routes and delivery schedules.
According to OBERLO, the online retail market share was 19.2% in 2021, which means that every US$100 spent by consumers, US$19.20 was online.
Market Dynamics:
Driver:
Demand for supply chain visibility
IoT technology enables comprehensive visibility throughout the supply chain by leveraging a network of interconnected sensors, devices, and data analytics platforms. This visibility enables proactive decision-making, faster response to disruptions, and optimization of logistics processes. Furthermore, supply chain visibility powered by IoT enhances collaboration and communication among stakeholders and customers, significantly driving market expansion.
Restraint:
High cost
Implementing IoT technology involves various expenses, including the acquisition of hardware as well as investment in software development. Initially, the upfront capital investment required for deploying IoT infrastructure can be substantial, especially for small and medium-sized enterprises (SMEs) with limited financial resources. In addition, integrating IoT technology with existing legacy systems and processes may incur additional expenses, which is hampering this market further.
Opportunity:
Technological advancements
Continuous innovation in IoT technology, coupled with advancements in related fields, contributes to the evolution and expansion of capabilities within the logistics industry. Improved battery life and energy efficiency prolong the operational lifespan of IoT devices. Furthermore, advancements in connectivity technologies such as 5G networks and low-power wide-area networks (LPWAN) offer faster data transmission speeds and broader coverage, which thereby propel this market growth.
Threat:
Lack of expertise
Many logistics companies lack internal expertise in IoT technologies, making it challenging to develop and execute comprehensive IoT strategies. They may struggle to identify suitable IoT solutions, integrate them with existing systems, and interpret the vast amounts of data generated by IoT devices. However, there is a shortage of professionals with expertise in these domains, hindering the effective utilization of IoT in logistics.
Covid-19 Impact
The COVID-19 pandemic has brought several negative impacts to the IoT-powered logistics market, disrupting supply chains, slowing down technology adoption, and highlighting vulnerabilities in global logistics systems. Lockdowns, travel restrictions, and border closures have severely disrupted supply chains worldwide, leading to delays in manufacturing, distribution, and transportation. This disruption has affected the deployment and maintenance of IoT devices and sensors critical for logistics optimization.
The hardware segment is expected to be the largest during the forecast period
The hardware segment is estimated to hold the largest share due to its critical role in collecting, transmitting, and processing data related to logistics operations. These devices are deployed across warehouses, vehicles, containers, and other assets to monitor parameters. Additionally, these devices enable real-time tracking and tracing of goods throughout the supply chain, providing visibility and transparency to stakeholders, which is propelling this segment's growth.
The fleet management segment is expected to have the highest CAGR during the forecast period
The fleet management segment is anticipated to have highest CAGR during the forecast period due to the management and operation of fleets of vehicles involved in transportation and logistics activities. They offer a range of functionalities, including route optimization, vehicle maintenance scheduling, fuel efficiency monitoring, and driver safety management. Furthermore, the efficiency, safety, and sustainability of their vehicle fleets led to cost savings and improved customer service, thereby driving this segment's expansion.
Region with largest share:
North America commanded the largest market share during the extrapolated period owing to its advanced technological infrastructure, mature logistics industry, and robust economy. North American logistics firms leverage IoT technology to enhance customer experiences through real-time tracking and personalized delivery options. Moreover, the region's vast geographical expanse and extensive transportation networks further propel this region.
Region with highest CAGR:
Asia Pacific is expected to witness highest CAGR over the projection period, owing to a complex logistics landscape with varying infrastructure, regulations, and consumer behaviors. The Asia Pacific region encompasses a wide range of economies, from advanced technology hubs like Japan and South Korea to emerging markets such as India and Southeast Asian countries. In addition, government initiatives promoting digitalization, smart cities, and sustainable development further accelerate the adoption of IoT-powered logistics solutions across Asia Pacific.
Key players in the market
Some of the key players in the IoT Powered Logistics Market include NEC Corporation, Amazon Web Services, Cisco Systems Inc., Honeywell International, IBM Corporation, Intel Corporation, Kaa IoT Technologies, Microsoft Corporation, Novire Technologies, Oracle Corporation, PTC and SAP SE.
Key Developments:
In March 2024, Amazon Web Services and NVIDIA announced that the new NVIDIA Blackwell GPU platform-unveiled by NVIDIA at GTC 2024-is coming to AWS.
In March 2024, IBM introduced the Mainframe Skills Council during this week's SHARE conference in Orlando, to provide a forum where global organizations will foster a skilled, diverse, sustainable workforce for the mainframe platform.
In March 2024, Microsoft Corp. and Oracle are expanding our collaboration to meet growing customer demand for Oracle Database@Azure around the world.
Components Covered:
- Hardware
- Software
- Services
- Other Components
Applications Covered:
- Cold Chain Management
- Fleet Management
- Warehouse Automation
- Inventory Management
- Predictive Maintenance
- Other Applications
End Users Covered:
- Manufacturing
- Healthcare
- Automotive
- Retail
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global IoT Powered Logistics Market, By Component
- 5.1 Introduction
- 5.2 Hardware
- 5.3 Software
- 5.4 Services
- 5.5 Other Components
6 Global IoT Powered Logistics Market, By Application
- 6.1 Introduction
- 6.2 Cold Chain Management
- 6.3 Fleet Management
- 6.4 Warehouse Automation
- 6.5 Inventory Management
- 6.6 Predictive Maintenance
- 6.7 Other Applications
7 Global IoT Powered Logistics Market, By End User
- 7.1 Introduction
- 7.2 Manufacturing
- 7.3 Healthcare
- 7.4 Automotive
- 7.5 Retail
- 7.6 Other End Users
8 Global IoT Powered Logistics Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 NEC Corporation
- 10.2 Amazon Web Services
- 10.3 Cisco Systems Inc.
- 10.4 Honeywell International
- 10.5 IBM Corporation
- 10.6 Intel Corporation
- 10.7 Kaa IoT Technologies
- 10.8 Microsoft Corporation
- 10.9 Novire Technologies
- 10.10 Oracle Corporation
- 10.11 PTC
- 10.12 SAP SE
List of Tables
- Table 1 Global IoT Powered Logistics Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
- Table 3 Global IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
- Table 4 Global IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
- Table 5 Global IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
- Table 6 Global IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
- Table 7 Global IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
- Table 8 Global IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
- Table 9 Global IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
- Table 10 Global IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
- Table 11 Global IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
- Table 12 Global IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
- Table 13 Global IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 14 Global IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
- Table 15 Global IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 16 Global IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 17 Global IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
- Table 18 Global IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
- Table 19 Global IoT Powered Logistics Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 20 North America IoT Powered Logistics Market Outlook, By Country (2021-2030) ($MN)
- Table 21 North America IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
- Table 22 North America IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
- Table 23 North America IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
- Table 24 North America IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
- Table 25 North America IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
- Table 26 North America IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
- Table 27 North America IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
- Table 28 North America IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
- Table 29 North America IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
- Table 30 North America IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
- Table 31 North America IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
- Table 32 North America IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 33 North America IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
- Table 34 North America IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 35 North America IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 36 North America IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
- Table 37 North America IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
- Table 38 North America IoT Powered Logistics Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 39 Europe IoT Powered Logistics Market Outlook, By Country (2021-2030) ($MN)
- Table 40 Europe IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
- Table 41 Europe IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
- Table 42 Europe IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
- Table 43 Europe IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
- Table 44 Europe IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
- Table 45 Europe IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
- Table 46 Europe IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
- Table 47 Europe IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
- Table 48 Europe IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
- Table 49 Europe IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
- Table 50 Europe IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
- Table 51 Europe IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 52 Europe IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
- Table 53 Europe IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 54 Europe IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 55 Europe IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
- Table 56 Europe IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
- Table 57 Europe IoT Powered Logistics Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 58 Asia Pacific IoT Powered Logistics Market Outlook, By Country (2021-2030) ($MN)
- Table 59 Asia Pacific IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
- Table 60 Asia Pacific IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
- Table 61 Asia Pacific IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
- Table 62 Asia Pacific IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
- Table 63 Asia Pacific IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
- Table 64 Asia Pacific IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
- Table 65 Asia Pacific IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
- Table 66 Asia Pacific IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
- Table 67 Asia Pacific IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
- Table 68 Asia Pacific IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
- Table 69 Asia Pacific IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
- Table 70 Asia Pacific IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 71 Asia Pacific IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
- Table 72 Asia Pacific IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 73 Asia Pacific IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 74 Asia Pacific IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
- Table 75 Asia Pacific IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
- Table 76 Asia Pacific IoT Powered Logistics Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 77 South America IoT Powered Logistics Market Outlook, By Country (2021-2030) ($MN)
- Table 78 South America IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
- Table 79 South America IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
- Table 80 South America IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
- Table 81 South America IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
- Table 82 South America IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
- Table 83 South America IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
- Table 84 South America IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
- Table 85 South America IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
- Table 86 South America IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
- Table 87 South America IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
- Table 88 South America IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
- Table 89 South America IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 90 South America IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
- Table 91 South America IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 92 South America IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 93 South America IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
- Table 94 South America IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
- Table 95 Middle East & Africa IoT Powered Logistics Market Outlook, By Country (2021-2030) ($MN)
- Table 96 Middle East & Africa IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
- Table 97 Middle East & Africa IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
- Table 98 Middle East & Africa IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
- Table 99 Middle East & Africa IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
- Table 100 Middle East & Africa IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
- Table 101 Middle East & Africa IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
- Table 102 Middle East & Africa IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
- Table 103 Middle East & Africa IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
- Table 104 Middle East & Africa IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
- Table 105 Middle East & Africa IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
- Table 106 Middle East & Africa IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
- Table 107 Middle East & Africa IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 108 Middle East & Africa IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
- Table 109 Middle East & Africa IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
- Table 110 Middle East & Africa IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
- Table 111 Middle East & Africa IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
- Table 112 Middle East & Africa IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
- Table 113 Middle East & Africa IoT Powered Logistics Market Outlook, By Other End Users (2021-2030) ($MN)
