The statistics behind the “Internet of Things” (IoT) are as dizzying as the possibilities. By the middle of this decade, the freight transportation and logistics industries are projected to generate an extra $1.9 trillion in value. This is over a 10-year period, thanks to leveraging real-time data and operating efficiencies through IoT. (1) This staggering projection explains why transportation, manufacturing, and utility companies spent $120 billion on IoT in recent years. These investments will continue to accelerate further. 75+ billion separate devices are expected to interconnect through IoT and cloud computing across the globe by 2025.
