The report, titled “Global IoT Market in Warehouse Management 2017-2021,” divulges details of increasing adoption of IoT for warehouse management and its growth trajectory over the 2017-2021 forecast period. The report covers market dynamics, growth trends, and technological developments that are expected to influence the IoT market in warehouse management over the aforementioned forecast period. The America, APAC, and the EMEA are the regions analyzed in this report to ascertain the growth of global IoT market in warehouse management.
The report is creditworthy for its many offerings. It provides market size forecasts, growth indices, and SWOT analysis of the market over the 2017-2021 forecast period that market stakeholders can leverage to plan strategic moves.
The making of the report comprised a primary research phase wherein analysts reached out to proprietary databases for data collection. This was followed by an extensive secondary research phase that involved data scrutiny and further validation of the collected data by industry experts. The report includes an exhaustive collection of tables and graphs for a pictorial representation of the growth path expected to be treaded by IoT market in warehouse management over the 2017-2021 forecast period.
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According to the report, the global IoT market in warehouse management is estimated to clock a whopping 30.13% CAGR over the forecast period from 2017 to 2021.
The report elucidates the various factors driving the global IoT market in warehouse management. Firstly, increasing adoption of goods-to-person technology is stoking growth of this market. In demand and supply chain scenarios, stock visibility, knowledge of product location, knowledge of origin of product, destination of product are critically important for supply chain and warehouse managers. While inventory tracking is not a new concept in a typical demand-supply scenario, the supply chain industry has been developing technologies for the purpose over decades, starting from barcodes and going all the way to RFID tags.
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Further, the logistics industry is expected to undergo radical transformation in the next few years mainly due to two factors: increased economic activity and business outsourcing. The supply chain scenario is likely to be supported by new technologies such as IoT, which will result in improvement in overall efficiency and increased growth opportunities in the industry.
Apart from inventory and assets tracking around the warehouse, IoT in warehouse management provides the ability to improve the accuracy and performance of human operators. It is a common practice in warehouses to hire temporary workers during peak seasons such as sales promotions or holiday seasons to keep with the increased demand for shipments during such occasions. This necessitates the deployment of easy-to-use and accurate technology for these employees, for which wearable devices and augmented reality have been explored.
However, the growth of IoT market in warehouse management is restrained by several factors. In a warehouse, the execution of the massive volume of data generated by a number of sensor based systems is slowing the uptake of IoT for warehouse management pursuits.
Nevertheless, introduction of blockchain technology in supply chain management is likely to open growth prospects for IoT market in warehouse management.
Prominent names in the global IoT market in warehouse management include Cisco, IBM, Intel, Vantiq, and Zebra Technologies. Some other prominent vendors in the market are Oracle, HCL Technologies, Eurotech, GT Nexus, ThingsWorx, and SAP.
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