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Internet of Things in Warehouse Management Market Report, 2025

Internet of Things in Warehouse Management Market Analysis Report By Solution, By Device, By Service And Segment Forecasts From 2018 To 2025

Report ID: MN17619703  |  Published: May 2020  |  No of Pages: 100
Format: Electronic (PDF)  |  Industry: Technology  |  Publisher: Grand View Research

Industry Insights

The global internet of things in warehouse management market size was accounted for USD 2.27 billion, in 2015.Factors such as increasing preference for connected devices, growing need for data sharing, optimizing floor level activities, and the competency of warehouse equipment are projected to fuel the market growth over the forecast period. The telecommunication industry has witnessed significant innovations in the recent past. These innovations are expected to surge the use of connected devices in various industries over the forecast duration.  

The increasing machine-to-machine applications such as asset tracking, smart meters, transportation, surveillance, and health monitoring are predicted to bode well for the demand of connected devices in the upcoming years. The IoT supported applications are expected to revolutionize the digital experience of customers. Moreover, the rising telematics-related norms by several governments are predicted to improve the warehouse operations productivity and accelerate the connected trucks’ demand.

U.S.IoT in warehouse management market

The increasing automation for various warehouse activities is replacing the traditional ways of operating mechanism and enabling manufacturers to maximize their output. The chances of order accuracy have risen significantly due the use of robotics applications, high-speed conveyors, and mechanized Material Handling (MH).

Solution Insights

On the basis of solution, the IoT in warehouse management market is divided into tracking, inventory management, warehouse automation, electronic data interchange (EDI), and workforce management. The warehouse automation division is predicted to showcase the fastest growth in the upcoming years.

The automated warehouses increase the storage ability by 400% over conventional manual operations. Also, automation helps in lowering the storage space that can be used for other applications such as value-added services and packaging.

The ineffectiveness of picking and out away surges the overall cost of storage. The use of a workforce management solution is projected to lower the labor cost. The job of workforce management solution includes workforce forecast and picking optimization.

Device Insights

Depending on device, the market is segregated into gateways, and sensing devices. The gateway segment is predicted to grow substantially over the forecast years. The penetration of RFID technology is expected to boost the demand for the gateway in the coming years. Operators across the world are using barcode scanners, RFID readers, and other palmtop devices to design inventory management and shipping.

IoT in warehouse management market, by device, 2015 (USD Million)

The RF tags, involved with pallets, provide location and information of the product. Moreover, the fusion of the warehouse management system and RFID technology is projected to further bolster the demand for sensing devices from 2016 to 2025.

Service Insights

Based on service, the industry has been classified into usage-based insurance and 3PL. IoT supported organizations are focusing to increase their presence in the untapped segments by providing the latest services to attract new customers. The shifting preference of companies towards service-oriented business models is anticipated to propel the demand for 3PL in the upcoming years.

The usage-based insurance category is expected to showcase a considerable growth rate in the upcoming years. The increasing preference for telematics solutions in trucks and the rising application of connected trucks are predicted to bode well for the usage-based insurance market growth from 2016 to 2025.

Regional Insights

North America occupied a considerable market share of more than 43.71% in 2015 and is predicted to lead the market over the estimated period. Factors such as increasing automation and high labor cost are predicted to drive the regional market in the coming years. Moreover, the rising preference for connected trucks is expected to further supplement the market growth. Some of the key applications of the connected trucks are safety applications, driver assistance, and infotainment.

Internet of Things in Warehouse Management Market Share Insight

The key players of the market Eurotech S.P.A., Argos Software,UltraShip TMS, Software AG, IBM Corporation,SecureRF Corporation, GT Nexus, Tecsys, Inc., Zebra Technologies, and Tecsys, Inc. The key players emphasize on the enhanced communication between the networks and sensor technology to create good customer value. Machine-to-Machine communication requires application software and industrial instrumentation. Service providers try to lower the operation cost and incorporate the latest services to attract more customers.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2014 - 2015

Forecast period

2016 - 2025

Market representation

Revenue in USD Million& CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, South America, and MEA

Country Scope    

U.S., Canada, Mexico, UK, Germany, France, Japan, China, India, Singapore, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global Internet of Things (IoT) in warehouse management market based on solution, device, service, and region:

• Solution Outlook (Revenue, USD Million, 2014 - 2025)
    • Warehouse automation
    • Workforce management
    • Inventory Management
    • Electronic data interchange (EDI)
    • Tracking

• Device Outlook (Revenue, USD Million, 2014 - 2025)
    • Sensing devices
    • Gateways

• Service Outlook (Revenue, USD Million, 2014 - 2025)
    • Usage-based insurance
    • 3PL

• Enterprise Size Outlook (Revenue, USD Million, 2014 - 2025)
    • Large Enterprise
    • Small & Medium Enterprise

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
    • Asia Pacific
        • China
        • India
        • Japan
        • Singapore
    • South America
        • Brazil
    • The Middle East & Africa (MEA)

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