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The mechanics behind IoT in the logistics industry
LOGISTICS companies have been struggling to cope with consumer demands as far as providing real-time tracking of international shipments is concerned, and find it hard to provide new insights to businesses looking to do more with their logistics partners. The internet of things (IoT) is going to change that. In fact, the technology is expected to transform the industry entirely by sharing constant real-time data on everything related to the cargo. According to a report, the global logistics industry is valued at US$8.2 trillion in 2015 (11 percent of global GDP). This is projected to touch US$15.5 trillion by 2023 at a CAGR of 7.5 percen
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