A13169 | Pages: NA | Sep 2022 | 555 Views | ||
Author(s) : Vineet Kumar | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
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Warehouses are basically used to store products and additional goods, which need to be delivered to customers. The main purpose of warehousing is to keep the products safe and need to deliver when required. Warehouses are connected with IoT devices and sensors to make the business operations easier. Integration of IoT in the warehouse management system helps to reduce damages, spoilages, and incomplete shipments, which cause huge loss to businesses. E-commerce giants, such as Amazon, Flipkart, and Alibaba, have successfully demonstrated the capabilities of this emerging technology and are using automated robots and IoT sensors in their warehouses. Warehouse are equipped with smart shelves, which store inventory information and warn warehouse managers of low stock, relocated products, unsuitable temperatures, theft, and others. The staff of the warehouse can be tracked using wearable devices based on IoT technology. The integration of IoT technology in warehouse management drives the growth of the market.
IoT in Warehouse Market Scope and Structure Analysis
Report Metric | Details |
 Market size available for years |  2020–2030 |
 Base year considered |  2020 |
 Forecast period |  2021–2030 |
 Forecast units |  Value ($) |
 Segments covered | Component, Deployment Model, Enterprise Size, Application, End User, and Region |
 Regions Covered | North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and the Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa) |
 Companies covered | International Business Machines Corporation, PTC Inc., HCL Technologies Ltd., Intel Corporation, Zebra Technologies Corp., Omnitracs LLC, Software AG, Cisco Systems Inc., Oracle Corporation, Tecsys Inc. |
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Impact of COVID-19 on IoT in Warehouse Market-
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The increasing adoption of network connected devices among individuals across the world is a key factor expected to drive growth of the IoT in warehouse management market. In addition, increasing number of machine-to-machine applications that are used in different industries, such as video surveillance, transportation, smart meters, asset tracking, and health monitoring, is another factor that is expected to fuel the growth of the market. However, fluctuation in the prices of the product makes it difficult to manage inventory and shortage of key components are responsible to hamper the growth of the market. Furthermore, technological advances for executing software for warehouse management and increasing awareness of Internet of Things (IoT) devices among people across the globe are anticipated to create lucrative opportunities for the growth of IoT in warehouse market.
The market trends for IoT in warehouse market are as follows:
Integration of artificial intelligence in warehouse management system
The integration of artificial intelligence in the warehouse management system helps to connect devices, equipment, and conveyer belts with each other. With the help of IoT devices and artificial intelligence, the chance of making mistakes reduces. In addition, warehouse can easily connect, monitor, or manage the unlimited range of its suppliers and data elements. IoT with the help of AI has been making it simpler to collect information regarding the worker and the workplace along with managing the safety and security of both sides.
North America is expected to lead the market in the forecasted period:
North America is expected to lead the market during the forecast period. This region is the hub of latest technology service providers. The region mainly consists of developed countries such as the U.S. and Canada. These countries are known for early adoption and implementation of advanced technologies in warehouse management Amazon Inc. and Walmart Inc. are using artificial intelligence and IoT-based drones with warehouse management systems to improve their services improving the retail performance in the region.
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Key benefits of the report
Questions answered in the IoT in warehouse market research report:
Key Market Segments & Key Market Players
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