IoT In Warehouse Management Market – Global Industry Analysis and Forecast (2023-2029)

IoT in Warehouse Management Market is anticipated to reach US$ 11.25 Bn. by 2029 from US$ 4.25 Bn. in 2022 at a CAGR of 14.89% during a forecast period.

The Internet of Things (IoT) is a collection of devices and systems that track their position, report on their condition, and receive and respond to orders. Sensors for measuring and tracking actions, as well as processors, are included in these devices. In warehouse management, Internet of Things (IoT) devices or systems are commonly employed. The connected device market is expected to be driven by the rising number of machine-to-machine applications, such as video surveillance, smart meters, transportation, health monitoring, and asset tracking. To know about the Research Methodology :- Request Free Sample Report

The digital customer experience is expected to be revolutionized by IoT-enabled technologies. Furthermore, several countries are expected to rise their telematics-related legislation. Besides, the growing number of telematics-related laws enacted by various governments is likely to drive demand for linked vehicles and boost warehouse productivity.

In report, 2022 is considered a base year however 2022’s numbers are on the real output of the companies in the market. Special attention is given to 2022 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
IoT in Warehouse Management Market Dynamics
The increasing adoption of connected devices among individuals across the world is likely to fuel the growth of the worldwide Internet of Things in the warehouse management market. Other factors expected to fuel the growth of the target market include an increase in the number of machine-to-machine applications utilized in numerous sectors, such as video surveillance, transportation, smart meters, asset tracking, and health monitoring. Furthermore, as governments throughout the world tighten telematics-related rules, demand for linked trucks and warehouse operations is expected to rise. Furthermore, increased data interruption risks and the increasing need for data encryption in IoT device security are expected to drive market growth during the forecast period.

Technological advancements for deploying warehouse management software and rising awareness of the Internet of Things (IoT) among individuals throughout the world are expected to create profitable opportunities for participants in the target market. The growing usage of fleet management by various transport providers is expected to fuel IoT in warehouse management demand. Protocol translation, device connectivity, security, updating, and data filtering are some of the key elements of IoT that are likely to drive the use of these solutions. IoT gateways provide safe data transfer methods. They serve as platforms for data-processing applications, which is expected to fuel worldwide demand for IoT solutions. Besides, the worldwide growth in technological applications and warehouse efficiency is likely to boost the IoT in the warehouse management market.
IoT in Warehouse Management Market Segmentation Analysis
By Solution, over the forecast period, the warehouse automation solution is expected to grow at a rapid pace. When compared to traditional forklift operations, automated warehousing solutions enhance storage capacity by 400%. Furthermore, automation helps to save warehouse storage space, which can then be utilized for other operations like packing and value-added services. Picking and putting away inefficiencies raise the overall storage operating cost. The use of workforce management software is expected to save labor costs.

By Device, the gateway is expected to grow at a CAGR of xx% during the forecast period. The fast use of RFID technology is expected to increase demand in the market. RFID readers, barcode scanners, and other portable devices are being used by operators all over the world to improve shipping and inventory management. The RF tags, which are mounted to pallets, offer product information and location. Furthermore, the integration of RFID and warehouse management systems is likely to have a positive impact on the demand for sensing devices.

By Service, The 3PL service segment is likely to be driven by enterprises' increasing shift to service-oriented marketing strategies. Over the forecast period, usage-based insurance is expected to grow at a CAGR of xx%. The usage-based insurance service is expected to be driven by the increased deployment of telematics technologies in vehicles and the increasing penetration of linked trucks.
IoT in Warehouse Management Market Regional Insight
In 2021, North America held greatest market share, accounting for about 43.71 percent, and is likely to be one of the most influential markets worldwide. The North American regional market is being driven by increased labour costs and the increasing penetration of automation. Furthermore, the region's market demand is expected to be driven by the rising usage of connected vehicles. The connected trucks' main uses include driver assistance systems, entertainment, and safety applications.

Due to increased expenditures in solar projects and demand for solar energy sources, APAC has a considerable market share. Efforts to lessen dependency on fossil fuels might be beneficial to the IoT data warehouse market. The growing number of solar installations in China and India demonstrates the market's enormous potential. However, the region's market growth may be hampered by a shortage of land resources. Domestic customers may be attracted by the ease of installation and access to services. Customer complaints may be addressed through online portals and mobile gadgets, which can be beneficial to the market.
Report Objectives:
Landscape analysis of the IoT in Warehouse Management Market

competitive benchmarking

Past and current status of the industry with the forecasted market size and trends

Evaluation of potential key players that include market leaders, followers, and new entrants

Technology trends

Potential impact of micro-economic factors of the market

External and Internal factors affecting market have been analyzed

The report also helps in understanding the IoT in Warehouse Management Market dynamics, structure by analyzing the market segments and project the IoT in Warehouse Management Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the IoT in Warehouse Management Market make the report investor’s guide.
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IoT in Warehouse Management Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 4.25 Bn.


Forecast Period 2023 to 2029 CAGR:
14.89%
Market Size in 2029:
US $ 11.25 Bn.


 Segments Covered:
by Solution
Warehouse automation
Workforce management
Inventory management
Electronic data interchange (EDI)
Tracking


by Device
Sensing devices
Gateways


by Service
Usage-based insurance
3PL



IoT in Warehouse Management Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina and Rest of South America)
IoT in Warehouse ManagementMarket: Key Players
1. Omnitracs LLC. IBM Corporation
2. Software AG
3. Cisco Systems Inc.
4. UltraShipTMS
5. TECSYS Inc.
6. HCL Technologies Limited
7. Intel Corporation
8. PTC Incorporation
9. Eurotech SpA
10. Oracle Corporation
11. Zebra Technologies
12. Infor
13. Argos Software
14. Eurotech S.P.A.
15. GT Nexus

Frequently Asked Questions:

1. Which region has the largest share in Global IoT in Warehouse Management Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global IoT in Warehouse Management Market?
Ans: The Global IoT in Warehouse Management Market is expected to grow at a CAGR of 14.89% during forecast period 2023-2029.

3. What is scope of the Global IoT in Warehouse Management market report?
Ans: Global IoT in Warehouse Management Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global IoT in Warehouse Management market?
Ans: The important key players in the Global IoT in Warehouse Management Market are – Omnitracs LLC. IBM Corporation, Software AG, Cisco Systems Inc., UltraShipTMS, TECSYS Inc., HCL Technologies Limited, Intel Corporation, PTC Incorporation

5. What is the study period of this market?
Ans: The Global IoT in Warehouse Management Market is studied from 2022 to 2029.