Global Internet of Things IoT in Warehouse Management
Market Report
2024
As per Cognitive Market Research's latest published report, the Global Internet of Things in Warehouse Management market size was $9.82 Billion in 2022 and it is forecasted to reach $55.24 Billion by 2030. Internet of Things in Warehouse Management Industry's Compound Annual Growth Rate will be 27.9% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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As per Cognitive Market Research's latest published report, the Global Internet of Things in Warehouse Management market size was $9.82 Billion in 2022 and it is forecasted to reach $55.24 Billion by 2030. Internet of Things in Warehouse Management Industry's Compound Annual Growth Rate will be 27.9% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Internet of Things IoT in Warehouse Management Market Sales Revenue 2022 | $ 9.82 Billion |
Global Internet of Things IoT in Warehouse Management Market Sales Revenue 2030 | $ 55.24 Billion |
Global Internet of Things IoT in Warehouse Management Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 27.9% |
Market Split by Device Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Internet of Things IoT in Warehouse Management Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Economic development across the globe has pushed various sectors like manufacturing, retail, and healthcare to achieve highly efficient operations in order to increase productivity and fulfill customer demand. Therefore, logistics companies are continuously striving to meet customer growing demand. Therefore, automation in warehouse management system plays a vital role in reducing product delivery time, minimizing distribution costs, and also reducing lead time. Thus, several benefits associated with the implementation of IoT solution has propelled the market growth in recent years.
Increasing economic and social activities have turned to digital solutions. Therefore, to sustain in the competitive market, market players have to adopt new technologies. E-commerce is a vastly growing industry due to ease of use and hassle-free shopping and returns, especially among the youth generation. Therefore, a rapidly growing number of online shoppers increases the need to implement smart warehouse management systems. Automated WMS helps manufacturers to handle goods stocks, tracking products and their locations, their order picking, and delivery status more efficiently. E-commerce giants such as Amazon, Alibaba, Zappos, and Coca-cola have adopted smart WMS solutions.
The major factors responsible for the successful functioning of the IoT are better operational efficiency and technological advancement. Several regions such as Latin America, the Middle East & Africa, and Asia Pacific have less adoption of technologies due to less literacy rates and low budgets. Though entrepreneurs and governments of many countries in these regions are aware of these technologies like IoT, because of high initial investment is poising its adoption which is expected to hinder the market growth to some extent.
However, the vast expansion of the e-commerce industry is expected to drive market growth in the coming future.
AI plays a vital role in transforming warehouse management systems. The warehouse is dependent on a continuous stream of data. AI helps to track complete data of order picking and stock away. It reduces human efforts by eye keeping 24/7. AI solution provides tools that help to ease the interaction between warehouse equipment and employees. AI helps to maintain the same speed and monitor the quality of operations, packing, picking, and moving different sizes of packages in the warehouses.
Furthermore, handling hazardous products by labours in confined spaces is very dangerous. Unnecessary movements by labours can cause collisions or other injuries. Therefore, automation in warehouses is Programmed to transport fragile products with high levels of precision.
The outbreak of Covid-19 had a positive impact on the global IoT in the warehouse management market. As governments of several nations announced lockdown and social distancing regulations, the market has gained traction speedily due to certain regulations implemented by governments across the globe.
Before the pandemic, many manufacturers adopted lean manufacturing for inventory cost down flowed by utilization of more space efficiently. However, the pandemic hit, many manufacturers experienced shortages with this lean manufacturing strategy and some manufacturers also stopped their production. Therefore, to overcome these issues manufacturers have adopted an automated warehouse system, as it helps them to deliver the products within the shortest time period to the customers, helps to keep track of picking and packing goods, and also creates a better environment to follow operations smoothly.
Post-pandemic, increased demand for products has led to more storage locations with more capacity. Therefore, to manage warehouse operations by following safety measures, they have adopted IoT based warehouse management system.
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May 2020
A leading warehouse management software provider, Manhattan Associates Inc. has unveiled Manhattan ACTIVE warehouse management solutions that combines all aspects of distributions.
Top Companies Market Share in Internet of Things IoT in Warehouse Management Industry: (In no particular order of Rank)
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In 2022, North America has gained the largest market share of 45.34% in terms of revenue due to the increasing penetration of automation and prevailing high labor costs. In addition, the emergence of automated vehicles, robots, and drones is taking traction in the warehouse management system. 24/7 monitoring stock with accuracy coupled with clever racks, pallets, and containers assist to manage the products of the warehouse operators. Therefore, several benefits associated with IoT technology have enforced market players operating in this region to adopt this solution.
The current report Scope analyzes Internet of Things IoT in Warehouse Management Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Internet of Things IoT in Warehouse Management Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Internet of Things IoT in Warehouse Management Industry growth. Internet of Things IoT in Warehouse Management market has been segmented with the help of its Device Type, Application , and others. Internet of Things IoT in Warehouse Management market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
This growth is attributed due to the increasing rapid deployment of RFID technology. Operators are using barcode scanners, RFID readers, and other handheld devices worldwide in order to streamline shipping and inventory management. The RF tags which are attached to pallets give information and the location of products. Integration of warehouse management systems and RFID is projected to further fuel the segment growth in the near future.
In 2022, sensing devices has held the largest market share of 70.24% in terms of revenue. This largest revenue market share is attributed due to the several benefits offered by sensing devices such as it helps inventory manager to maintain track of in and out of goods and also monitor temperature and humidity in the warehouse.
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Warehouse automation provides huge advantages to organizations. Automated warehouses have increased storage capacity by 400% as compared to conventional systems. In addition, automation in warehouses helps to reduce storage space which can be used for other activities. In some warehouses, data of picking orders and stock away is entered manually which is time-consuming, while automation feeds data automatically. It also increases accuracy which reduces human error and paperwork.
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Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modeling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product positioning and will assist you to understand opportunities and threats around the globe.
The Global Internet of Things IoT in Warehouse Management Market is witnessing significant growth in the near future.
In 2023, the Sensing Devices segment accounted for noticeable share of global Internet of Things IoT in Warehouse Management Market and is projected to experience significant growth in the near future.
The Warehouse automation segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Eurotech S.P.A. (Italy), Argos Software (U.S.) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Device Type | Sensing Devices, Gateways |
Application | Warehouse automation, Workforce management, Inventory management, Electronic data interchange (EDI), Tracking |
List of Competitors | Eurotech S.P.A. (Italy), IBM Corporation (U.S.), Argos Software (U.S.), GT Nexus (U.S.). |
This chapter will help you gain GLOBAL Market Analysis of Internet of Things IoT in Warehouse Management. Further deep in this chapter, you will be able to review Global Internet of Things IoT in Warehouse Management Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Device Type Analysis 2019 -2031, will provide market size split by Device Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Device Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Internet of Things IoT in Warehouse Management market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Sensing Devices have a significant impact on Internet of Things IoT in Warehouse Management market? |
What are the key factors affecting the Sensing Devices and Gateways of Internet of Things IoT in Warehouse Management Market? |
What is the CAGR/Growth Rate of Warehouse automation during the forecast period? |
By type, which segment accounted for largest share of the global Internet of Things IoT in Warehouse Management Market? |
Which region is expected to dominate the global Internet of Things IoT in Warehouse Management Market within the forecast period? |
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