The Future of Internet of Things in Warehouse Management….. COVID-19 & Its Impact….


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.
The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.
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.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/internet-of-things-iot-warehouse-management-market/request/rs1
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.
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.)
The global Internet of Things in warehouse management market was valued at USD 2.27 billion in 2015, owing to the increasing penetration of connected devices across the globe. The telecommunication industry has undergone significant advancements over the past few years. The increasing need of applications for connected devices across various sectors is expected to increase the efficiency of the warehouse.
The growing number of machine-to-machine applications, including video surveillance, smart meters, transportation, health monitoring, and asset tracking, is anticipated to drive the connected device market demand. The IoT-enabled applications are anticipated to revolutionize the digital consumer experience. Additionally, the increasing telematics-related regulations by various governments are expected to propel the demand for connected trucks and enhance the productivities of the warehouse operations.
The growing automation in warehouse is changing the traditional industry operations, enabling companies to maximize their throughput. Order accuracy can beachieved through automated Materials Handling (MH) equipment, robotics applications, and high-speed conveyor systems.
Based on the solution, the industry has been segmented into warehouse automation, workforce management, inventory management, electronic data interchange (EDI), and tracking. The warehouse automation solution is anticipated to witness high growth rate over the forecast period.
The automated warehousing systems increase the storage capacity by 400% compared to the traditional forklift operations. Additionally, automation also helps to reduce the storage space in the warehouse that can be used for other activities such as packagingand value-added services.
The inefficiencies of picking &put away increase the overall storage operation cost. The adoption of workforce management application is anticipated to reduce labor cost. The functions of workforce management include picking optimization and workforce forecast.
Have any Query? Ask our Experts:
https://www.grandviewresearch.com/inquiry/3590/ibb
Grand View Research has segmented the IoT in warehouse management market based on solution, device, service:
IoT In Warehouse Management Solution Outlook (Revenue, USD Million; 2014 - 2025)
·         Warehouse automation
·         Workforce management
·         Inventory management
·         Electronic data interchange (EDI)
·         Tracking
IoT In Warehouse Management Device Outlook (Revenue, USD Million; 2014 - 2025)
·         Sensing devices
·         Gateways
IoT in Warehouse Management Service Outlook (Revenue, USD Million; 2014 - 2025)
·         3PL
·         Usage-based insurance
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more