Dublin, Nov. 04, 2024 (GLOBE NEWSWIRE) -- The "Internet of Things (IoT) in Warehouse Management - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Internet of Things (IoT) in Warehouse Management was estimated at US$6.7 Billion in 2023 and is projected to reach US$17.8 Billion by 2030, growing at a CAGR of 15.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the IoT in warehouse management market is driven by several factors, including the increasing need for real-time inventory tracking, advancements in automation technologies, and the growing complexity of global supply chains. As e-commerce continues to expand, companies are adopting IoT solutions to streamline warehouse operations, reduce errors, and improve order accuracy.
Technological innovations in robotics, RFID, and AI-driven analytics are further fueling market growth by enabling more efficient asset management and faster order fulfillment. Additionally, the growing focus on supply chain visibility and the need for real-time data to optimize logistics and inventory management are driving investments in IoT-enabled warehouse management systems.
Why Is the Internet of Things (IoT) Critical for Warehouse Management?
The Internet of Things (IoT) is transforming warehouse management by automating inventory tracking, improving operational efficiency, and enhancing supply chain visibility. IoT-powered devices such as RFID tags, smart shelves, and connected sensors enable real-time tracking of goods within warehouses, reducing errors, streamlining workflows, and optimizing storage space.
These devices provide continuous data on inventory levels, asset location, and equipment performance, helping warehouse managers make data-driven decisions. IoT-enabled systems can also automate tasks such as order picking, packaging, and shipping, reducing labor costs and improving the speed and accuracy of order fulfillment. As e-commerce and global trade continue to grow, IoT solutions are becoming essential for managing complex warehouse operations.
How Are Technological Advancements Shaping IoT in Warehouse Management?
Technological advancements in automation, AI, and robotics are driving the adoption of IoT in warehouse management. Automated guided vehicles (AGVs) and robotic systems integrated with IoT sensors are being used to move goods within warehouses, reducing the need for manual labor and improving operational efficiency. AI-driven analytics platforms analyze data from connected devices to optimize warehouse layout, predict demand, and enhance inventory management.
Additionally, advancements in RFID and Bluetooth Low Energy (BLE) beacons are improving real-time asset tracking, ensuring that goods are accurately located and managed throughout the supply chain. These technologies are making IoT-enabled warehouse management systems more intelligent, responsive, and capable of meeting the demands of modern logistics operations.
How Do Market Segments Define the Growth of IoT in Warehouse Management?
Components include hardware such as RFID tags, sensors, and connected devices, software for inventory management and analytics, and services for system integration and support. Applications include inventory tracking, asset management, warehouse automation, and real-time monitoring, with inventory tracking and automation leading the market as warehouses look to improve efficiency and reduce operational costs.
End-users include e-commerce companies, logistics providers, and manufacturers, with e-commerce driving significant demand for IoT solutions due to the need for fast, accurate order fulfillment in large-scale operations. The market is growing rapidly in regions such as North America and Asia-Pacific, where the rise of e-commerce and globalization are pushing companies to invest in smart warehouse solutions.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Internet of Things (IoT) in Warehouse Management Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Internet of Things (IoT) in Warehouse Management Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Solutions Component segment, which is expected to reach US$10.6 Billion by 2030 with a CAGR of a 16.5%. The Devices Component segment is also set to grow at 12.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $1.7 Billion in 2023, and China, forecasted to grow at an impressive 19.4% CAGR to reach $4.5 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Internet of Things (IoT) in Warehouse Management market such as Argos Software, Eurotech S.P.A., GT Nexus, IBM Corporation, Omnitracs LLC and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $6.7 Billion |
| Forecasted Market Value (USD) by 2030 | $17.8 Billion |
| Compound Annual Growth Rate | 15.0% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Internet of Things (IoT) in Warehouse Management - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Real-Time Inventory Tracking and Optimization Drives IoT in Warehouse Management
- Technological Advancements in IoT-Enabled Warehouse Automation Strengthen Market Potential
- Growing Use of IoT in Predictive Maintenance for Warehouse Equipment Expands Opportunities
- Focus on Enhancing Supply Chain Visibility and Efficiency Propels IoT Adoption
- Rising Use of IoT in Fleet and Asset Tracking Expands Market for Warehouse Solutions
- Technological Innovations in Smart Sensors and RFID Systems Fuel IoT Growth
- Expansion of E-Commerce and Omnichannel Retailing Drives IoT Demand in Warehousing
- Increasing Focus on Energy Efficiency and Sustainability in Warehousing Strengthens IoT Market
- Rising Use of IoT in Autonomous Mobile Robots (AMRs) and Automated Guided Vehicles (AGVs) Expands Adoption
- Technological Innovations in IoT for Real-Time Location Systems (RTLS) Propel Market Growth
- Rising Adoption of AI-Driven IoT Solutions for Inventory Forecasting and Management Expands Market Potential
- Focus on Reducing Operational Costs and Downtime Through IoT Solutions Strengthens Market Growth
FOCUS ON SELECT PLAYERS:Some of the 37 companies featured in this Internet of Things (IoT) in Warehouse Management market report include
- Argos Software
- Eurotech S.P.A.
- GT Nexus
- IBM Corporation
- Omnitracs LLC
- Recent Developments
- SecureRF Corporation
- Tecsys, Inc.
- UltraShip TMS
- Zebra Technologies
For more information about this report visit https://www.researchandmarkets.com/r/bb0sy
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