According to Statista, in 2020, the worldwide market for supply chain management was assessed at 15.85 billion U.S. dollars, and it is projected to nearly double, reaching approximately 31 billion U.S. dollars by the year 2026. IoT solutions provide transparency and precision across various aspects of the supply chain. This includes suppliers monitoring the condition of raw materials, manufacturers detecting and addressing production bottlenecks, logistics operators optimizing delivery routes, and retailers enhancing inventory visibility and store management.
The relevance of IoT to Supply Chain Management is further supported by the data 1NCE can track through our customers' requests and the increasing prevalence of industrial IoT use cases, which currently stands at over 12%.