According to the US Department of Transportation, “In 2013 the U.S. transportation system moved a daily average of about 55 million tons of freight valued at more than $49.3 billion”. Water transport accounted for 808 million tons in 2013, with projections to increase to 1,070 million tons by 2040. This growth in Inland Marine Transport stresses the need for efficiency in freight transport, and IoT solutions offering safety, ROI, and ease of use are critical to make it happen.
IoT statistics are astounding. According to Vision Critical, “in 2015, there were about 15.4 billion connected devices. According to IHS, this number will grow to 30.7 billion in 2020, and 75.4 billion by 2025.” And Intel’s forecasted 200 billion connected devices by 2020. B2B IoT devices will fundamentally transform the way organizations do business with other companies, and will impact every industry.
What are the $’s?
For 2016, spending around the world for IoT $737 billion. IDC predicts that by 2020, this number will reach $1.29 trillion, a compound annual growth rate of 15.6 percent. GE claims IoT will add $10-$15 TRILLION to GDP globally by 2030.
According to General Electric, the IoT will add $10 to $15 trillion to worldwide GDP growth by 2030—the equivalent of China’s entire current
Are you on Board?
This year, 60 percent of global manufacturers will use analytics data recorded from connected devices to analyze processes and identify optimization possibilities, according to IDC and SAP. One implementer, saw tangible efficiency almost immediately through easy installation of near real-time GPS. Read More…