Trend report estimates 50 billion devices to be connected by 2020.
DHL and Cisco predicted IoT will generate $1.9 trillion across the supply chain and logistics operations industry.
The Trend Report, revealed at DHL’s Global Technology Conference in Dubai, estimated that by 2020 50 billion devices will be connected to the internet, increasing by more than 300% from today’s 15 billion.
The companies said the value shows the benefits to the industry, when the Internet and networks expand their connections to warehousing, freight transportation and other elements of the supply chain.
The report suggested organisations would be able to create more ‘last mile’ delivery options for customers, more efficient warehousing operations and freight transportation.
Recently, Cisco predicted IoT will generate $8 trillion worldwide within the next ten years.
Markus Kückelhaus, Vice President Innovation & Trend Research, DHL Customer Solutions & Innovation, said: "The Internet of Things is the connection of almost anything — from parcels to people — via sensor technology to the web and both Cisco and DHL believe this will revolutionize business processes across the entire value chain including supply chain and logistics.
"To get the maximum global economic benefit, we’ll need to understand how all components in the value chain converge and this will require a comprehensive collaboration, participation and the willingness to invest to create a thriving IoT eco system for sustainable business processes. The new Trend Report is another step towards making sure DHL delivers the benefits of IoT to our customers."
Chris Dedicoat, president, EMEAR for Cisco, said: "Digital disruption is all around us and it’s having massive implications for business. Digitization and the expansion of the Internet of Things is a catalyst for growth, which is driving new economic models and enabling organizations to remain competitive and embrace the pace of change happening globally. This report clearly demonstrates that digitization and the IoT will deliver long term efficiencies and growth opportunities across a wide range of industries."