IoT in Warehouse Management Market
IoT in Warehouse Management Market Analysis, By Solution (Inventory Management, Workforce Management), By Device (IoT Sensing Devices, IoT Connectivity Gateways), By End-use Industry & Region - Global Market Insights 2022 to 2032
Analysis of IoT in Warehouse Management Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
IoT in Warehouse Management Market Outlook (2022 to 2032)
The use of IoT in warehouse management is a novel trend in the logistics sector. Smart technologies are leveraged by businesses to facilitate inventory management and automated processes to a great extent. This also helps to reduce operational costs and boost organizational productivity. Customer experience highly depended on various factors one of them is supply chain efficiency and timely delivery of promises. IoT implementation not only saves labor costs but also reduces shipping time which increases customer experience.
Industry 4.0 is heavily dependent on the Internet of things and artificial intelligence. Big data analytics and cloud infrastructure are other two important technologies driving many applications. Nearly 72% of respondents have agreed to IoT as the key and most impactful technology within their premises or organization.
The capacity to track the quality of manufactured goods at every level is another entry among the most significant IoT applications. Real-time situation assessment in factories is possible due to these sensors’ aids in ensuring safety improvement. Pinpoint inventories are another industrial application of IoT sensors making inventories faster, remotely accessible, and efficient to adjust.
The market in 2022 was valued at USD 4.26 billion. Furthermore, this market is anticipated to grow with a CAGR of 15% in the forecast period and is estimated to cross a value of USD 15 billion by end of 2032.
Market size (2022 A)
USD 4.26 billion
Base Year for Estimation
Forecast duration for this research
Forecasted Market value (2032 F)
USD 15 billion
Global Market Growth rate (2022-2032 E)
CAGR of 15%
Key Companies Profiled
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How IoT helps in warehouse management?
IoT can help in warehouse management by providing real-time visibility into inventory levels, tracking shipments, and monitoring the condition of goods. IoT sensors can be used to track the location of goods within a warehouse, as well as monitor temperature and humidity levels to ensure that products are stored in optimal conditions.
IoT can also be used to automate processes such as order fulfilment and inventory replenishment, reducing the need for manual labor. Additionally, IoT can be used to monitor the performance of warehouse equipment, helping to identify potential problems before they become costly issues.
Due to increasing efficient warehousing solutions, the adoption of IoT is largely increased, and owing to this the growth can be seen in inventory management, workforce management, electronic data interchange, and others, which in turn, is increasing IoT in warehouse management solution demand. In addition, no human interference in daily warehouse operations and employing a combination of efficient automation technologies to control operational logistics costs are major factors driving the market.
IoT gateways offer secured channels for data transmission. They act as platforms for applications that process data, which is likely to drive the demand for IoT solutions, globally. Furthermore, the global rise in applications of technology and productivity of the warehouse is expected to propel the market.
With IoT asset management getting better.
The manager's awareness of each and every item kept in the warehouse is growing thanks to the Internet of Things. Enterprises can track the position of all commodities, receive low-stock warnings, be informed if a product is misplaced, and more with the use of linked sensors and data storage platforms.
- Automated inventory tracking systems can be used to track the movement of goods in a warehouse, allowing for better asset management. This technology can be integrated with IoT sensors to provide real-time data on the location and status of goods.
- Predictive maintenance can be used to identify potential problems with assets before they become an issue. IoT sensors can be used to monitor the condition of assets and alert warehouse managers when maintenance is needed.
- Automated replenishment systems can be used to ensure that warehouses are stocked with the right amount of goods at all times. IoT sensors can be used to monitor stock levels and trigger replenishment orders when needed.
Additionally, businesses can use the benefits of smart technologies to monitor and automatically change storage conditions. If any merchandise is misplaced, the store management will be informed immediately. It can raise the likelihood that the product will be recovered and help identify the offender. More opportunities in the warehouse sector are anticipated to arise as a result of these traits and capabilities.
Asia Pacific market is anticipated to gain a major share of the market in the forecast period. The demand for IoT in warehouse management is anticipated to grow at a significant rate in the Asia Pacific region owing to increasing efficient warehousing solutions like inventory management, workforce management, electronic data interchange, and others.
In addition, most of the key players have a presence in this region, thus it is another significant factor driving the adoption of IoT in warehouse management in this region. However, during the pandemic outbreak, most of the warehouses were closed down during the lockdowns imposed by governments in various countries.
Thus a decrease in production was seen during the pandemic outbreak, moreover, the supply chain was also impacted during the COVID-19 outbreak. However, post COVID the market is gaining back traction and is anticipated to grow at a steady growth rate.
Moreover, the up-gradation of warehousing and logistics infrastructure in emerging regions such as India, Malaysia, Singapore, Australia, Indonesia, and others, is also expected to lead to a higher demand for IoT in warehouse management in these regions.
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Key players in the market are focusing on expanding and deploying a new line-up of warehousing solutions to meet rising demands from various end-user industries. For instance, IBM is a leading provider of warehousing solutions. The company’s products are largely used in applications such as electronic data interchange, inventory monitoring, and warehouse operations.
Key Segments of IoT in Warehouse Management Industry Research
By Solution :
- Inventory Management
- Workforce Management
- Electronic Data Interchange
By Device :
- IoT Sensing Devices
- IoT Connectivity Gateways
By End-use Industry :
- Retail & Logistics
- Food & Beverages
- Electrical & Electronics
By Region :
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia & Pacific
- Australia & New Zealand
- Rest of South Asia & Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- North America
- FAQs -
IoT in warehouse management market is anticipated to reach US$ 15.0 billion by 2032, growing at a CAGR of 15% between 2022 and 2032.
Because of the increased efficiency of warehousing solutions, there is growth in inventory management, workforce management, electronic data interchange, and other areas, which is increasing solution demand.
The market will generate the largest share in the Asia Pacific due to efficient warehousing solutions such as inventory & workforce management, & electronic data interchange.
The market is likely to be worth US$ 4.26 Billion in 2022.
The market has high growth potential due to the surging adoption of efficient automation technologies to control operational logistics.
The manufacturers in the industry are likely to find the most opportunities in the Asia Pacific region.