IoT in Supply Chain Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
- Transparency Market Research
Supply chain management (SCM) is a foundational business process that impacts almost every enterprise. For a manufacturer, it means moving parts into factory for production and finished products to the point of sale. This usually involves a third party logistics (3PL) companies. Their role is to manage ways through which resources are outsourced wherever required. This can sometimes insert inefficiency and lack of visibility to process, which is removed by the development of Internet of Things (IoT) that continuously changes the way supply chains are managed. IoT is a way through which massive amount of data is coupled with new communication options. This collaboration of sensors, communication devices, servers, analytics engines, and decision-making aids connects the physical and information worlds more closely.
Sensors are used since a long time to monitor the process which starts from manufacturing of products and ends with the delivery to their point of sale. But using those sensors to intelligently connect people, data, things and process, is where IoT comes into application. With the IoT, sensors embedded equipment’s can communicate data about various parameters such as temperature and utilization, which can be used to process workflow and can result in optimizing supply chain performance. This is a leading trend of IoT in supply chain management market.
IoT opens up various use cases for supply chain management that includes asset tracking and fleet management. Asset tracking can be based on RFID tags which provides real time data about the whereabouts of product in warehouse. Impact of IoT in fleet management is based on factors such as weather and traffic congestion increases availability and efficiency of the asset.
Management of supply chains through IoT, facilitates design of more optimized supply chain which provides solutions such as demand planning, risk diagnosis and logistics assessment. Collaboration of sensors with intelligence, allows proactive warning of risk in supply chain. Emergence of sensors and increasing requirement of managing supply chains are the factors driving the growth of IoT supply chain management market. Declining prices of IoT sensors is also expected to trigger market growth. Manufacturers are focusing more on close connectivity in their supply chain network, is responsible for driving IoT in supply chain management market. Smartphones are increasingly used by supply chain managers to access information. Their reduced prices and increased functionalities has surged adoption of IoT in supply chain management.
Installation of IoT devices, requirement of skilled personnel for installation and maintenance are some key restraint hindering the growth of the market. Security is another factor that is expected to restrain market growth over the forecast years.
The global market for IoT in supply chain management is segmented on the basis of product, mode of transport and end use vertical. The product segment can be further classified as hardware, software and solution. Hardware segment is further categorized into sensors, cameras, screen/display, networking hardware (antennas, routers, hub, RFID, NFC), positioning hardware and others. Software segment is further categorized into fleet management and tracking. However, on the basis of end use vertical, market can be segmented into food &beverage, healthcare & life sciences, manufacturing, retail & wholesale, transportation& logistics and others. Based on solution, it can be segmented into transportation management, Inventory &warehouse management support service, demand planning & forecasting solution and others. Further, mode of transport for supply chain management can be segmented into roadways, airways, railways and marine.
North America is expected to dominate the market for IoT in supply chain management during the forecast period. The increasing adoption of smart connected devices and the technological advancements support the growth of IoT in supply chain management market.
Some of the key vendor in the IoT in supply chain management market includes. Alcatel-Lucent AT&T, Cisco Systems, IBM Corporation, Intel Corporation, Cubic Corporation, Siemens AG, Thales SA, TomTom NV, TransCore, LP, Verizon Communications , Denso Corporation, Garmin Ltd , Hitachi Ltd and Iteris Inc..
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from IoT
TechnologyHigh-Performance Computing-Thematic Research