Artificial Intelligence (AI) in Warehousing Market Size Worth USD 242.2 billion by 2037
Analysis of AI in Warehousing Market Size by Research Nester Reveals the Market to Register a CAGR of 27.2% During 2025-2037 and Attain ~USD 242.2 billion by 2037
Read also:Artificial Intelligence – How it is Shaping and Redefining Logistics
Integration of AI and IoT Leading to the Development of Next-gen Warehousing Management Solutions
The integration of IoT and AI in warehousing is estimated to boost operational efficiency through real-time data collection and analysis. Key market players are continuously investing in research and development activities to introduce innovative solutions for warehouses. AI and IoT integrated solutions are estimated to aid in real-time tracking of inventory and assets, which increases visibility across the supply chain leading to informed decision-making.
The traditional systems often fail to manage large workloads and data speeds, affecting the overall productiveness of warehouses. For instance, in July 2021 Sierra Wireless collaborated with Microsoft Corporation to develop asset tracking solution. The Acculink-managed IoT solution of Sierra Wireless is combined with Microsoft’s Azure IoT Central to track the location and condition of high-value and sensitive assets. This solution is gaining widespread adoption in warehousing, logistics, and transportation applications.
Growth Drivers:
- Boom in the e-commerce sector and online shopping fuelling the adoption of AI solutions in warehouses.
- Shortages of skilled laborers are pushing warehouse and logistic companies to adopt automation and AI to boost productivity.
Challenges
The rising adoption of digital technologies such as artificial intelligence in warehouses is increasing the concerns related to data security and cyber threats. As the warehouse becomes more connected it opens multiple entry points for cybercriminals. Such data privacy concerns can significantly affect the adoption rate of AI technologies in warehouses.
Many small-scale warehouses operate on outdated systems, which makes the integration of modern AI solutions more complex. This lack of compatibility can also hinder the adoption of digital technologies in warehouses.
Based on components, the hardware segment is projected to reach a valuation of USD 104.9 billion by 2037. The continuous advancements in sensors, cameras, and robots contribute to segmental growth. The swift digital shift in warehouse companies is augmenting the high adoption of advanced hardware technologies. For instance, in June 2024, Scanco Software, LLC announced the launch of an automated warehouse management technology for Acumatica customers.
By region, the North America AI in warehousing market is foreseen to reach USD 100.6 billion by 2037-end owing to rapidly expanding online shopping activities and continuous launches of advanced warehouse management systems. The U.S. and Canada have advanced logistic infrastructure compared to other economies across the world, which is aiding market players in earning high profits. The rising labor costs are also compelling companies to install advanced robotics and technologies in warehouse operation management.
This report also provides the existing competitive scenario of some of the key players of the global AI in warehousing market which includes company profiling of Amazon Web Services (AWS), Microsoft Corporation, Google LLC, IBM Corporation, Blue Yonder Group, Inc., Honeywell International, Siemens AG, Oracle Corporation, SAP SE, ABB Ltd, Zebra Technologies, Mytra, Scale AI, Element Logic, Affordable Robotic & Automation Ltd., Lucas Systems, Fulfilld, Inc., Scanco Software, LLC, Sumitomo Corporation, SENKO Co., Ltd., and Daifuku Co., Ltd.
Source: https://www.researchnester.com/reports/ai-in-warehousing-market/6608
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