Abstract
Many IoT technologies have been applied in the logistics industry in recent years, and they have had a substantial impact on many sectors such as shipping, air freight, warehousing, inventory, etc. Exploring technology opportunities and carrying out technological trend analysis are essential for IoT’s evolution, and there are many techniques or methods for doing so. In this paper, data analysis and text mining techniques, technology opportunity analysis (TOA) and technology-service evolution analysis (TSEA) have been applied to analyze and observe IoT technologies’ and services’ evolution. Academic journals, market reports, and patents have been collected and reviewed on the topic of IoT in the logistics field in this paper. Moreover, by using TOA, technology opportunities have been analyzed to explore IoT-related logistics services. The results of TOA, for example, show that cloud technology is essential to develop smart logistics services, and communication RFID technologies are key to developing information logistics services. Finally, TSEA enables the observation of IoT technology and logistics service evolution by combining unstructured and semi-structured data from text documents. Observing the results of TSEA, the evolution of IoT in logistics is identified, and the results of TSEA also confirm those of TOA using unstructured or semi-structured text data from documents only. The results of this paper are discussed and compared with those of some previous review studies. In summary, the results of this paper provide methodological guidelines on this topic for a comprehensive understanding of IoT-related logistics services.
Highlights
Since technological advancements of the internet of things (IoT) surge in recent years, the importance of technology management is as influential to scholars as to practitioners in the industry
This paper applies text mining, technology opportunity analysis (TOA) and technology-service evolution analysis (TSEA) to study the development of IoT-related logistics services and observe their changes
The scope of the study is based on related academic literature, patents, and news or market reports available, with the aim of achieving new insights using these data for analysis
Summary
Since technological advancements of the internet of things (IoT) surge in recent years, the importance of technology management is as influential to scholars as to practitioners in the industry. Many IoT technologies have been applied in the logistics industry for the past few years, and they have had a substantial impact. Gartner [19] forecast an economic value of IoT, in the global market, of USD 1.9 trillion in 2020, while McKinsey [18] estimated the potential economic impact of six major IoT applications to be USD 2.7 trillion to USD 6.2 trillion per year by 2025. A collaborative report by DHL and Cisco in 2015 predicted that USD 8 trillion will be generated through new connections over the ten years, where USD 1.9 trillion is from supply chains and the logistics industry [17], proving there is huge potential for countries to further increase their connectedness and prosper through
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