Press release
Internet of Things (IoT) in Logistics Market - Increase In Demand For Smarter Supply Chain Operations
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This data is later used by enterprises to analyze the overall performance and make tweaks to improve safety, security, and productivity. Internet of Things (IoT) solutions are beneficial to carry out efficient supply chain operations in the logistics market. Internet of Things (IoT) hardware, such as sensors, devices, and radio-frequency identification (RFID) tags, enables warehouse managers to know the exact location and progress of any product at any time. Additionally, investment in Internet of Things (IoT) solutions helps reduce the cost of manual labor and increase accuracy. The Internet of Things (IoT) in logistics industry offers an opportunity to maintain unparalleled visibility into inventory and supply chains to retailers. Many companies are employing these solutions to create smart warehouses.
A factor driving the global Internet of Things (IoT) in logistics market is increase in demand for smarter supply chain operations. Marketers are looking for smart and fast automation techniques to cater to increasing demand from end-users. Therefore, they are adopting Internet of Things (IoT) in logistics solutions for managing supply chain-related operations. Moreover, Internet of Things (IoT) in logistics solutions are economical. Automation and self-service are presently the most important dynamics in the logistics sector. Rise in demand for them is expected to drive the Internet of Things (IoT) in logistics market during the forecast period.
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However, the high initial cost required for setting up operations is likely to hamper the market. Increase in production efficiency and cost reduction due to automation are projected to offer moderate expansion opportunities to the Internet of Things (IoT) in logistics market.
The global Internet of Things (IoT) in logistics market can be categorized based on component, technology, and geography. Based on component, the global Internet of Things (IoT) in logistics market can be segmented into hardware, software, and services. The hardware segment can be further divided into cameras, sensors, screen/display, networking hardware, positioning hardware, and others. The software segment can be further classified into traffic management, advanced driver assistance, logistics and fleet solutions, and others. The services segment can be further split into support services,
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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