The Latin America, Middle East and Africa Internet of Things in Warehouse Management Market would witness market growth of 16.7% CAGR during the forecast period (2023-2029).
Manufacturers in the market can anticipate lucrative opportunities due to technological developments in warehouse management software deployment and a growing understanding of the Internet of Things (IoT). The demand for IoT in warehouse management is anticipated to be fueled by different transport providers' expanding use of fleet management. Some of the important IoT components that are anticipated to influence the utilization of these solutions include device connectivity, security, protocol translation, upgrading, and data filtering. IoT enabled sensing devices and gateways offer secure data transport procedures.
They provide the foundation for applications that handle data, which is anticipated to drive demand for IoT solutions. In addition, the market Internet of Things in warehouse management is projected to benefit from the international expansion of warehouse efficiency and technological applications. Additionally, the demand for IoT in warehouse management is expanding because connected devices are becoming more widely used.
Throughout the past few years, there have been major developments in the telecommunications sector. The warehouse is anticipated to operate more efficiently due to the growing demand for connected device applications across numerous industries. IoT-enabled applications will completely change how consumers interact with digital content. By enabling businesses to maximize their output, increasing warehouse automation is transforming traditional industry operations. For example, order accuracy can be achieved using robotic applications, automated materials handling (MH) equipment, and fast conveyor systems.
The UAE leads the Gulf Cooperation Council (GCC) in eCommerce, with a market growth of 53% in 2020 and a record $3.9 billion in eCommerce sales. Moreover, by 2025, the UAE market's population is expected to have access to the Internet and mobile devices at a rate of nearly 100%, according to the Dubai Chamber of Commerce and Industry. Therefore, the e-commerce sector's growth and expansion, increased trade activity, and the rising demand from businesses for effective inventory management and warehousing are all driving factors in the region. In addition, growing IoT and automation usage, along with improved infrastructure, foster regional market growth.
The Brazil market dominated the LAMEA Internet of Things in Warehouse Management Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $171.8 Million by 2029. The Argentina market is experiencing a CAGR of 17.3% during (2023 - 2029). Additionally, The UAE market would showcase a CAGR of 16.3% during (2023 - 2029).
Based on Device, the market is segmented into Sensing Devices and Gateways. Based on Service, the market is segmented into 3PL and Usage-based Insurance. Based on Solution, the market is segmented into Inventory Management, Warehouse Automation, Workforce Management, Electronic data Interchange (EDI), and Tracking. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Internet of Things in Warehouse Management Market is Projected to reach USD 9.9 Billion by 2029, at a CAGR of 14.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, EUROTECH S.p.A., HCL Technologies Ltd. (HCL Enterprises), Argos Software (Constellation Software), Software AG, Tecsys, Inc., Zebra Technologies Corporation, Infor, Inc. (Koch Industries), Omnitracs, LLC (Solera Holdings, Inc.), and PCS Software, Inc. (UltraShipTMS).
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