11 billion dollars was spent on the Internet of Things (IoT) solutions in 2016 in Central and Eastern Europe. Industries which invest the most in IoT are the transport, manufacturing and energy industries. IoT allows for a real time exchange of data between objects which allows for tremendous opportunities to streamline production and transport processes.
According to the IDC report “Wearable Device Market, Waiting for a Wonderment”, the value of the Internet of Things market amounted to 11 billion dollars in 2016 in Central and Eastern Europe alone and in 2020 it will amount to 24 billion dollars. These data include payments for hardware, software, services and connectivity for the Internet of Things.
IDC estimates that IoT solutions for transport accounted for 11% of the European IoT market value last year and in 2019 this share will increase to 24%.
In 2015 the Polish IoT market was worth nearly 1.9 billion dollars and the IDC analysts predict that by 2018 it will exceed 3 billion dollars.
What does IoT bring to transport?
IoT is already used in several dedicated systems for transport and logistics. In addition to fleet tracking and load monitoring transport industry also uses intelligent sensors and gateways for monitoring e.g. warehouses. It is also possible to use IoT technology to control the transport of goods which require cooling.
Thanks to IoT it is also possible to deliver packages to car trunks belonging to given recipients. Such solutions are already offered by Audi, Volvo, Amazon and DHL.
IoT solutions benefits
What are the benefits for transport and logistics companies from IoT solutions? They allow for better management of supply chains and logistics, reduce operational costs and improve business processes, as well as have a positive impact on the customer service quality. In such an innovative and competitive industry using the latest solutions is the key to survival in the market.
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