The statistics behind the “Internet of Things” (IoT) are almost as dizzying as the possibilities. By the middle of this decade, the freight transportation and logistics industries are projected to have generated an extra $1.9 trillion in value over a 10-year period by leveraging real-time data and operating efficiencies through IoT. (1) That staggering projection explains why transportation, manufacturing, and utility companies have spent a combined $120 billion on IoT systems and services in recent years. These investments will continue to accelerate, with more than 75 billion separate devices expected to be interconnected through IoT and cloud computing platforms across the globe by 2025.
