Global warehouse management IoT market to reach $19.06 billion by 2025
Report identifies increased adoption of goods-to-person technology as growth driver.
The global IoT in warehouse management market is anticipated to reach $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.
According to the report, 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, operating as platforms for applications that process data. IoT also performs functions such as protocol translation, device connectivity, security, updating, and data filtering. The report noted the growing penetration of cloud-based platforms is likely to positively impact the market demand over the projected period.
Electronic data interchange (EDI) solutions are expected to grow at a CAGR of 27.3% 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.
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 solutions dominate the market in terms of revenue.
● The widespread adoption of pallet/item-level tagging is expected to drive growth among smart inventory management solutions.
● 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 achieve a high growth rate over the forecast period.
According to the report, key market players include Zebra Technologies (U.S.), IBM Corporation (U.S.), Software AG (Germany), and Tecsys, Inc. (U.S.)
