IoT implementation in asset-intensive industries such as logistics, manufacturing, and transportation is relatively higher. From stationary to mobile accessories, all these assets are now emerging as part of a connected system, where they share and connect important information. Consignment vehicles such as trucks and ship vessels are mobile properties that are a key part of the IoT network. They are leaving an enduring cavity in the logistics and transportation industry.
Even before the emergence of the Internet of Things, the transportation, logistics, and warehousing industries were still the key driving forces that led to embedded connected systems. The existence of advanced telemetry skills and monitoring solutions of IoT in logistics have enabled the technology to evolve the industry vertically. Moreover, its world-connected market has developed at a quick pace. In 2016, the market’s global value stood at $10.04 billion, and it has currently reached a total market capitalization of $41.30 billion by the end of 2021. That is a collective yearly progress rate of over 32 percent. Without a doubt, the sector for IoT logistics is a blessing. Its enactment has allowed the logistics industry to transform its modus operandi. Besides, it has also gained higher results.