IoT in Warehouse Management Market – 2019-2025
The IoT in warehouse management is a growing market. The Internet of Things (IoT) refers to the physical devices, home appliances, and vehicles that are embedded with sensors, software, actuators, electronics and other connections enabling the interconnection and exchange of data. The IoT helps in connecting the physical world components with the computer-based systems to produce minimal human exertions, economic benefits, and efficiency enhancements.
IoT extends internet connectivity to everyday objects and other physical devices that are not internet-enabled. The incorporation of the IoT technology helps the physical devices to interact and communicate over the internet. It also enables the controlling and monitoring of the IoT-embedded physical devices. The global IoT in the warehouse management market is anticipated to witness growth in the forecast period
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Market Opportunities and Disadvantages
The rise in the adoption of goods to person technology is the key global market driver. The increase in the penetration of technologies like Automatic Identification and Data Capture (AIDC) and RFID is expected to boost the growth of the global IoT in warehouse management market. The increase in the adoption of the item level tagging will also fuel the market growth. The growing dependence on ROI is a potential barrier limiting the growth of the global market.
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The global IoT in warehouse management is divided based on solution, device, service, and region.
Based on the solution, the global market comprises of warehouse automation, inventory management, workforce management, electronic data interchange (EDI), and tracking. The inventory management solution is the market leader owing to the high revenue generation of the segment. The EDI solution is expected to witness the highest growth during the forecast period due to the increase in demand for data accuracy among the customers. The increase in the use of mobile applications and the use of embedded sensor technology will further fuel the growth of the EDI segment.
Based on the device, the global market of IoT in warehouse management is segmented into gateways and sensing devices. Sensing devices are expected to grow during the forecast period owing to the increase in the use of the sensor for various applications. The increase in the penetration of the cloud-based platforms will increase the demand for the gateways segment.
Depending on the service, the market is fragmented into 3PL and usage-based insurance.
Based on geography, the global IoT in warehouse management market includes the United States, China, India, Southeast Asia, Central, and South America, Japan, and Europe. The Asia Pacific region is anticipated to witness maximum growth during the forecast period.
The key players of the market include Zebra Technologies, Intel, IBM, Cisco, HCL Technologies, Eurotech, GT Nexus, SAP, Oracle, ThingWorx, and Vantiq.
The incorporation of blockchain in supply chain management is a recent trend in the industry. Top players of the industry are focusing on augmented reality as an effective technology that proves to be helpful in warehouse management. The innovations in the industry are expected to drive its demand in the coming years.
Table of Content:
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
5 Breakdown Data by Application
11 Company Profiles
12 Future Forecast
13 Market Opportunities, Challenges, Risks and Influences Factors Analysis
14 Value Chain and Sales Channels Analysis
15 Research Findings and Conclusion
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