The Global IoT in Warehouse Market is Expected to Reach USD 17.93 Billion by 2025 growing at a CAGR of over 21.21% by the end of the forecast period 2019–2025.
Global IoT in Warehouse Market is spanned across North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to be one of the largest markets and the earliest adoption of IoT in warehouse technology. For the purpose of analysis, North America has been segmented into the US, Canada, and Mexico. During the forecast period, the US is expected to be a leading region, growing at a CAGR of 19.91%, followed by Canada and Mexico. The region has a high level of skilled expertise, robust cloud infrastructure, and the presence of vendors such as Cisco Systems, Inc., Argos Software, and Zebra Technologies Corporation offering IoT-based solutions for supply chain management. On the demand side, tier I companies such as Walmart and Amazon are increasingly integrating disruptive technologies such as artificial intelligence (AI), big data, and IoT-based drones with the warehouse management systems that eventually boost the retail performance by streamlining the process of inventory management. Additionally, the strong wireless network infrastructure in terms of connectivity is also one of the major driving factors contributing to the growth of IoT in the warehouse management market during the forecast period.
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On the other hand, Asia-Pacific is expected to witness the fastest growth at a CAGR of 23.06% in the IoT in the warehouse market during the forecast period. The increasing number of strategic partnerships and collaborations across the industry, huge investments by the domestic e-commerce sector, increased adoption of inexpensive RFID tags in the retail sector, and growth of smart logistics are some of the driving factors for the growth of the IoT warehouse management market during the forecast period. The Asia-Pacific region has been segmented into seven segments–China, Japan, South Korea, Singapore, India, Australia, and the rest of Asia-Pacific. China is dominating the market in the Asia-Pacific region. In August 2017, Cainiao, the logistics business unit of the e-commerce giant, Alibaba, launched a smart warehouse in Huiyang, Guangdong province of China. The warehouse is operated by more than 100 automated guided vehicles (AGV), popularly known as mobile robots. These robots are equipped with WiFi and self-charging features; they are developed with inbuilt sensors to avoid collisions. In the same year, JD.com, one of the Chinese online retailers and Digital China, an IT company offering digital solutions, together with partnered with Zebra Technologies Corporation to develop an IoT-based e-commerce logistics lab, that leverages the applications of IoT in online retail. The partnership streamlines JD.com’s back-end and supply chain processes and offers customized services to its customers. Additionally, the country is witnessing strong growth in the e-commerce sector particularly in remote areas, which allow third-party logistics (3PLs) to offer seamless logistics services for the retailers.
Europe is witnessing steady growth in the global IoT in the warehouse market. For the purpose of analysis, Europe has been segmented into six countries—the UK, Germany, France, Spain, Italy, the Netherlands, and the rest of Europe. The UK and Germany are the major revenue contributors to the market in the region. According to industry experts and MRFR analysis, countries such as Italy, Spain, the Netherlands, and others are significantly adopting IoT solutions in their warehouses. However, this technology is at its nascent stage in the region. According to industry experts, despite having a strong network infrastructure, the adoption rate of IoT warehouse solutions is slow due to the lack of skill set required for operation and understanding of the technical complexity of the offered solutions.
Global IoT in Warehouse Market Segmentation
The Global IoT in Warehouse Market has been segmented on the basis of solution, device, industry, and region. The market, by solution, has been segmented into inventory management, workforce management, electronic data interchange, and others (telematics and automation). By device, the market has been segmented into sensing devices, networking and gateways, and others. The industry segment has been divided into retail & logistics, automotive, food & beverage, healthcare, electrical & electronics, and others. The region includes North America, Europe, Asia-Pacific, and the rest of the world.
Some of the Prominent Players in the Global IoT in Warehouse Market are IBM Corporation (US), Omnitracs, LLC (US), Software AG (Germany), TECSYS, Inc. (Canada), UltraShipTMS (US), HCL Technologies Limited (India), Cisco Systems, Inc. (US), Intel Corporation (US), PTC Incorporation (US), Oracle Corporation (US), Eurotech SpA (Italy), Zebra Technologies (US), and Infor Inc. (US).
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