Global Internet of Things (IoT) in Warehouse Management Market to Reach $17.8 Billion by 2030
The global market for Internet of Things (IoT) in Warehouse Management estimated at US$6.7 Billion in the year 2023, is expected to reach US$17.8 Billion by 2030, growing at a CAGR of 15% over the analysis period 2023-2030. IoT in Warehouse Management Solutions, one of the segments analyzed in the report, is expected to record a 16.5% CAGR and reach US$10.6 Billion by the end of the analysis period. Growth in the IoT in Warehouse Management Devices segment is estimated at 12.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 19.4% CAGR
The Internet of Things (IoT) in Warehouse Management market in the U.S. is estimated at US$1.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.5 Billion by the year 2030 trailing a CAGR of 19.4% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.2% and 12.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 11.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.9 Billion by the year 2030.
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