The global internet of things in warehouse management market is anticipated to reach USD 19.06 billion by 2025, according to a new report by Grand View Research, Inc. Increasing adoption of Goods-to Person (GTP) technology in warehouses is expected to drive the growth.
Telematics plays a major role in developing innovative solutions for fleet management. The increasing use of fleet management services by transport operators is anticipated to propel the telematics market demand. The adoption of telematics systems is expected to aid companies in reducing their fuel expenses and number of empty of runs.
IoT gateways provide secured channels to transmit data. The gateways operate as platforms for applications that process data. IoT also performs functions such as protocol translation, device connectivity, security, updating, and data filtering. The growing penetration of cloud-based platforms is likely to positively impact the market demand over the projected period.
The EDI solution is expected to portray high growth rate over the forecast period, owing to the increasing need for data accuracy at the customer end. The implementation of EDI is likely to reduce human errors and provide real-time information to the customer. The growing usage of mobile applications coupled with the increasing proliferation of the embedded sensor technology is anticipated to further propel the industry demand.
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Further key findings from the report suggest:
The growing penetration of technologies, such as RFID and Automatic Identification and Data Capture (AIDC), is expected to influence the market demand
Inventory management solution dominates the market in terms of revenue
The widespread adoption of pallet/item level tagging is expected to drive the smart inventory management solution
The EDI solution is expected to witness a significant growth with a CAGR of 27.3% over the projected period
Sensing devices are anticipated to dominate the market in terms of revenue over the forecast period, owing to the increasing adoption of sensors across various applications
The Asia Pacific region is expected to portray high growth rate over the forecast period
Germany and Singapore are the top ranked logistics performance index (LPI) countries
The key market players include Zebra Technologies (U.S.), IBM Corporation (U.S.), Software AG (Germany), and Tecsys, Inc. (U.S.)
Grand View Research has segmented the IoT in warehouse management market based on solution, device, service, and region:
IoT In Warehouse Management Solution Outlook (Revenue, USD Million; 2014 - 2025)
Electronic data interchange (EDI)
IoT In Warehouse Management Device Outlook (Revenue, USD Million; 2014 - 2025)
IoT in Warehouse Management Service Outlook (Revenue, USD Million; 2014 - 2025)
IoT in Warehouse Management Regional Outlook (Revenue, USD Million; 2014 - 2025)
The Middle East and Africa (MEA)
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