Iot Powered Logistics Market
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
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o 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
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o 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
1 Global IoT Powered Logistics Market Outlook, By Region (2021-2030) ($MN)
2 Global IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
3 Global IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
4 Global IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
5 Global IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
6 Global IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
7 Global IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
8 Global IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
9 Global IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
10 Global IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
11 Global IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
12 Global IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
13 Global IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
14 Global IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
15 Global IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
16 Global IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
17 Global IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
18 Global IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
19 Global IoT Powered Logistics Market Outlook, By Other End Users (2021-2030) ($MN)
20 North America IoT Powered Logistics Market Outlook, By Country (2021-2030) ($MN)
21 North America IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
22 North America IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
23 North America IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
24 North America IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
25 North America IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
26 North America IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
27 North America IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
28 North America IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
29 North America IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
30 North America IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
31 North America IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
32 North America IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
33 North America IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
34 North America IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
35 North America IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
36 North America IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
37 North America IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
38 North America IoT Powered Logistics Market Outlook, By Other End Users (2021-2030) ($MN)
39 Europe IoT Powered Logistics Market Outlook, By Country (2021-2030) ($MN)
40 Europe IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
41 Europe IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
42 Europe IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
43 Europe IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
44 Europe IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
45 Europe IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
46 Europe IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
47 Europe IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
48 Europe IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
49 Europe IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
50 Europe IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
51 Europe IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
52 Europe IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
53 Europe IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
54 Europe IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
55 Europe IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
56 Europe IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
57 Europe IoT Powered Logistics Market Outlook, By Other End Users (2021-2030) ($MN)
58 Asia Pacific IoT Powered Logistics Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
60 Asia Pacific IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
61 Asia Pacific IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
62 Asia Pacific IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
63 Asia Pacific IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
64 Asia Pacific IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
65 Asia Pacific IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
66 Asia Pacific IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
67 Asia Pacific IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
68 Asia Pacific IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
69 Asia Pacific IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
70 Asia Pacific IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
71 Asia Pacific IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
72 Asia Pacific IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
73 Asia Pacific IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
74 Asia Pacific IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
75 Asia Pacific IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
76 Asia Pacific IoT Powered Logistics Market Outlook, By Other End Users (2021-2030) ($MN)
77 South America IoT Powered Logistics Market Outlook, By Country (2021-2030) ($MN)
78 South America IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
79 South America IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
80 South America IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
81 South America IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
82 South America IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
83 South America IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
84 South America IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
85 South America IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
86 South America IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
87 South America IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
88 South America IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
89 South America IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
90 South America IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
91 South America IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
92 South America IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
93 South America IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
94 South America IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
95 Middle East & Africa IoT Powered Logistics Market Outlook, By Country (2021-2030) ($MN)
96 Middle East & Africa IoT Powered Logistics Market Outlook, By Component (2021-2030) ($MN)
97 Middle East & Africa IoT Powered Logistics Market Outlook, By Hardware (2021-2030) ($MN)
98 Middle East & Africa IoT Powered Logistics Market Outlook, By Software (2021-2030) ($MN)
99 Middle East & Africa IoT Powered Logistics Market Outlook, By Services (2021-2030) ($MN)
100 Middle East & Africa IoT Powered Logistics Market Outlook, By Other Components (2021-2030) ($MN)
101 Middle East & Africa IoT Powered Logistics Market Outlook, By Application (2021-2030) ($MN)
102 Middle East & Africa IoT Powered Logistics Market Outlook, By Cold Chain Management (2021-2030) ($MN)
103 Middle East & Africa IoT Powered Logistics Market Outlook, By Fleet Management (2021-2030) ($MN)
104 Middle East & Africa IoT Powered Logistics Market Outlook, By Warehouse Automation (2021-2030) ($MN)
105 Middle East & Africa IoT Powered Logistics Market Outlook, By Inventory Management (2021-2030) ($MN)
106 Middle East & Africa IoT Powered Logistics Market Outlook, By Predictive Maintenance (2021-2030) ($MN)
107 Middle East & Africa IoT Powered Logistics Market Outlook, By Other Applications (2021-2030) ($MN)
108 Middle East & Africa IoT Powered Logistics Market Outlook, By End User (2021-2030) ($MN)
109 Middle East & Africa IoT Powered Logistics Market Outlook, By Manufacturing (2021-2030) ($MN)
110 Middle East & Africa IoT Powered Logistics Market Outlook, By Healthcare (2021-2030) ($MN)
111 Middle East & Africa IoT Powered Logistics Market Outlook, By Automotive (2021-2030) ($MN)
112 Middle East & Africa IoT Powered Logistics Market Outlook, By Retail (2021-2030) ($MN)
113 Middle East & Africa IoT Powered Logistics Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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