How seamless IoT connectivity will revolutionise global logistics
THE global market value of connected devices using the Internet of Things (IoT) within the logistics sector is expected to rocket from US$90m in 2015, to US$2,438m by 2020, new research reveals.
IoT connects any device, such as a cell phone, a vehicle, or even a home appliance to the internet, allowing them all to exchange data without human intervention.
It brings greater transparency and efficiency, increases the speed of any actions – and cuts out waste and delays to shipments.
The fact that previously unconnected devices now have the ability to communicate with each other will be hugely beneficial for businesses operating in the logistics industry, where keeping track of the location of vehicles, containers and shipments has historically been a major challenge, writes Thelma Etim.
IoT is playing a major role in logistics by shadowing products
As a result, IoT is already redefining next-generation logistics and fleet management operations by enabling logistics organisations to embrace transparency, greater efficiency, proactive maintenance, automation and cost optimisation – throughout their entire supply chain processes and locations.
As such, the latest technologies such as IoT are opening up a range of new opportunities for logistics companies.
IoT is now playing a major role in logistics by tracking and tracing the products to provide complete visibility in operations and ‘real-time’ monitoring, whilst improving response times.
The integration of IoT and big data in logistics is expected to be an air cargo and logistics industry game-changer, as it will enhance the accuracy of demand forecasts, uncover new demand patterns, and develop new services using shared data with other businesses across the supply chain, a new report by market research company Research and Markets claims.
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