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Expansion of E-Commerce Sector Boosts IoT in Logistics Industry

10-06-2022 05:53 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

Expansion of E-Commerce Sector Boosts IoT in Logistics Industry

The IoT in the logistics market is projected to rise, and generate revenue worth $100,984.5 million in 2030. It is attributed to the expansion of the e-commerce industry. Under the application segment, the industry is categorized into self-driving vehicles, blockchain for supply chain management, fleet management, inventory tracking, warehousing, and others.

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Moreover, blockchain for supply chain management is projected to experience significant growth in the near future. It is attributed to the usage of the blockchain in supply chain management due to its potential to replace the traditional processes with the employment of distributed ledger technology for ethical and sustainable logistics operations.

Under the transportation segment, roadways hold an extensive share of the industry, and it is projected to retain its position in the near future because the U.S. in North America region is the worldwide significant IoT in logistics consumer base, accounting for 80% of logistics activities carried out by transportation.

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Moreover, North America holds the largest share of the IoT in the logistics industry, ascribed to the presence of the giants such as Walmart Inc., and Amazon.com Inc. which persistently require efficient logistics services, and hence create high demand for IoT solutions to improve operational efficiency.

In addition, APAC is expected to experience massive growth in the industry in the coming future, because it includes the most populous countries in the world, such as India, and China. Thus, it holds a larger consumer base in the logistics industry. Moreover, most countries are emerging economies in the region which results in rising disposable income of the population.

The large enterprise category is projected to showcase the substantial growth in the IoT in the logistics industry in the coming future. It is accounting for IoT penetration in logistics applications in large organizations led by higher affordability for IoT solutions compare to small and medium-sized enterprises.

Therefore, the expansion of the e-commerce industry boosts the integration of IoT in logistics.

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

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