There will be 50 billion devices connected to the internet by 2020 compared to 15 billion today, says an Internet of Things trend report, released by DHL and Cisco. The combination of increased revenues and lower costs that is created when new connections are made, will lead to huge potential when the internet and networks expand their connections to warehousing, freight transportation and other elements of the supply chain. For any organisation with a supply chain or logistics operations, IoT will have game-changing consequences, from creating more 'last mile' delivery options for customers, to more efficient warehousing operations and freight transportation.
According to Cisco's economic analysis, IoT will generate $8 trillion worldwide in value at stake over the next decade. This will come from five primary drivers: innovation and revenue ($2.1 trillion); asset utilisation ($2.1 trillion); supply chain and logistics ($1.9 trillion); employee productivity improvements ($1.2 trillion); and enhanced customer and citizen experience ($700 billion).