Supply Chain IoT Market

According to a research report "Supply Chain IoT Market by Component (Hardware, Software), Deployment Mode (On-Premises, Cloud), Organization Size, Vertical and Region - Global Forecast to 2027" published by MarketsandMarkets, the global supply chain IoT market size is expected to grow from USD XX.X billion in 2022 to USD XX.X billion by 2027, at a Compound Annual Growth Rate (CAGR) of XX.X% during the forecast period. Growing demand for ecommerce industry across the world, along with the increase in demand for an efficient supply chain management will drive the supply chain IoT market.

The On-premises deployment mode is expected to lead the supply chain IoT market in 2022.

The on-premises deployment mode of supply chain IoT is a more commonly used practice offering enterprises the power to manage risks, business processes, industry policies, and enables compliance management. The adoption of on-premises supply chain IoT solutions reduces the security risk of managing location-based data. The secure feature of on-premises leads to its adoption by various verticals, such as healthcare, retail and eCommerce, and transportation.

Large Enterprises are expected to hold the largest market size during the forecast period.

By Organization size, large enterprises are expected to hold the largest market size large enterprises hold a larger market size in the present market. The high adoption is due to the affordability and high economies of scale of large enterprises that enable organizations to leverage IoT in supply chain solutions and services. In today’s highly competitive world, large enterprises particularly leave no stone unturned to capture a larger market share. Hence, large enterprises spend significant amounts on becoming technologically proficient.

Asia Pacific likely to emerge as the fastest-growing segment during the forecast period.

Asia Pacific is projected to be the fastest-growing region in the supply chain IoT market due to the increase in adoption of new technologies, rising investments for digital transformation, and growing GDP in Asia Pacific countries. A majority of the potential economies in the region include Australia, Singapore, China, South Korea, Hong Kong, and India, which are rapidly investing in technological transformations. The competition in this region is fragmented, and supply chain IoT solution providers are looking at expanding the base of their operations to most countries in the region. China leads the region in terms of the adoption of supply chain IoT solutions due to various investments in smart transportation developments. According to Microsoft, APAC’s GDP stands to gain an extra USD 387 billion by 2021 and grow by an extra one percent annually if the region’s manufacturing sector embraces digital transformation.

Market Players

The major vendors covered in the supply chain IoT market include Cisco (US), Robert Bosch GmbH (Germany), IBM (US), Microsoft (US), Qualcomm Inc (US), Intel (US), Honeywell (US), and SAP (Germany).

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