Forklift IoT Solutions Market

Market Insights

IoT solutions are changing the industrial landscape at a breath-taking rate. IoT solutions will introduce a paradigm shift in factory operations and even change how forklifts function. Many factors will drive the forklift IoT market. One of the most important is safety considerations. As a result, the forklift IoT market is expected to record double-digit growth over the next ten years. Forklifts happen to be one of the most hazardous pieces of equipment in any industrial facility. Wherever there are forklifts, there are concerns that people may get injured at some point. But IoT for forklifts will change that.

Powered by the rapid adoption of advanced technology in the logistics industry, the Forklift IoT Solutions industry is expected to create a solid growth opportunity for the industry participants that will be worth a whopping USD 103.9 billion between 2022 and 2028. Growing at a CAGR of over 12.5%, the global Forklift IoT Solutions market revenue will reach nearly USD 20,630.32 million in 2028 from USD 8,731.96 million in 2021.

Interesting Facts about Forklift IoT Solutions Industry

• S. leads the Forklift IoT Solutions industry with over 30% contribution in revenue generation
• Germany, the UK, and France are leading Forklift IoT Solutions in Europe, with over 50% share in 2021
• Forklift IoT Solutions considerably increases efficiency in warehousing activity and reduce the downtime
• China is the largest Market in the Asia Pacific
• Taiwan and Singapore are at the forefront of adopting Forklift IoT Solutions in the Asia Pacific

Increasing Speed of Operations with High Level of Precision to Drive the Demand for Forklift IoT Solutions

Construction, Warehouse & Logistics, Automotive, and Others are major application markets for Forklift IoT Solutions. IoT for forklifts will make these vehicles smarter and better equipped to avoid collisions. In addition, autonomous driving is becoming better with each passing year. As a result, forklifts will be among the first vehicles to benefit from autonomous driving. This will decrease human error and significantly reduce the forklift casualty rate.

GPS, Sensors, Driver Assistance Systems, and Others are some significant types of Forklift IoT Solutions. In addition, intelligent forklifts of the future will have cutting-edge and sophisticated radio frequency identification devices, intelligent processing systems, and sensors. As a result of these technologies, forklifts can automate forklift truck operations so that human labor is no longer required for crewing these vehicles.

Forklift IoT Solutions Can Effectively Reduce the Labor Cost

This will prove to be another major driving factor behind forklift IoT solutions. Labor costs are among the most critical considerations in any industrial or warehouse facility. Since innovative forklift IoT solutions mean fewer laborers will be required, companies adopting these vehicles will benefit from lower operational costs. This will fuel the forklift IoT market.

Picking and sorting are labor-intensive and slow operations. Forklift IoT solutions can leverage sophisticated equipment and technology to boost the efficiency of such operations. As a result, this will be one of the key driving factors for the forklift IoT solutions market.

Forklift IoT Solutions Can Reduce Downtime Significantly

Thanks to forklift IoT solutions, these vehicles can alert users about maintenance as soon as it becomes due. This will reduce the breakdown rate and the downtime that follows. This will be a crucial driving factor for the forklift IoT solutions market.

Forklift IoT solutions can help forklift vehicles avoid obstacles and prevent accidents. With time, as the technology continues to evolve, forklift IoT solutions will prove to be better than humans at anticipating and avoiding severe accidents. This can result in fewer worker compensation claims and thus save a lot of money. In addition, this will lead to better worker safety and less likelihood of litigation, which will help keep costs.

Forklift IoT solutions will also be able to expedite operations. Unlike human workers, robots do not get tired and can perform at the same high rate for several hours. For example, forklift IoT solutions will lower the forks quickly and more safely than human beings, which will lead to quicker operations and faster customer facilitation and order fulfillment.

High Initial Investment to Have Adverse Impact on Growth of Forklift IoT Solutions Industry

Despite its large number of benefits, Forklift IoT Solutions are costly affaire. It requires a substantial initial investment coupled with a highly skilled workforce to operate it. This, in turn, refrains end-users from adopting Forklift IoT Solutions, especially in emerging or underdeveloped economies.

Limited Players to Dominate the Forklift IoT Solutions Industry  

Bosch, Cisco, Cognizant, Huawei, PTC, SAP, Sierra Wireless, Software AG, Zebra Technologies, and Others are some major players in the global Forklift IoT Solutions market. The companies mentioned above generate a large chunk of global Forklift IoT Solutions market revenue. However, requirements of the high level of technical know-how, ability to invest huge funds, and solid R&D base for developing Forklift IoT Solutions have proved to be a significant hurdle for this industry’s growth. However, the further evolution and lowering of the technology cost can attract more companies to invest and venture into the global Forklift IoT Solutions market in the coming years.

The U.S. to Lead the Demand for Forklift IoT Solutions

The presence of a large number of IT giants with the capability to such a technologically advanced solution for the logistics industry, the ability of end-users to invest in such technology, and higher receptiveness to technical advancement, need to reduce downtime in logistic activity

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Forklift IoT Solutions Market

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Forklift IoT Solutions Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Type
3.3.2. Application
3.3.3. Geography
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Types
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Top 6 Players
4.3. Top 3 Players
4.4. Major Strategies Adopted by Key Players

5. COVID 19 Impact Analysis
5.1. Global Forklift IoT Solutions Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply

6. North America
6.1. North America Forklift IoT Solutions Market, by Country, 2016-2028(US$ Bn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Forklift IoT Solutions Market, by Type, 2016-2028(US$ Bn)
6.2.1. Overview
6.2.2. GPS
6.2.3. Sensors
6.2.4. Driver Assistance System
6.2.5. Others
6.3. North America Forklift IoT Solutions Market, by Application, 2016-2028(US$ Bn)
6.3.1. Overview
6.3.2. Construction
6.3.3. Warehouse & Logistics
6.3.4. Automotive
6.3.5. Others

7. Europe
7.1. Europe Forklift IoT Solutions Market, by Country, 2016-2028(US$ Bn)
7.1.1. UK
7.1.2. France
7.1.3. Germany
7.1.4. Italy
7.1.5. Russia
7.1.6. Ukraine
7.1.7. Spain
7.1.8. Belgium
7.1.9. Netherland
7.1.10. Austria
7.1.11. Sweden
7.1.12. Poland
7.1.13. Denmark
7.1.14. Switzerland
7.1.15. Rest of Europe
7.2. Europe Forklift IoT Solutions Market, by Type, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. GPS
7.2.3. Sensors
7.2.4. Driver Assistance System
7.2.5. Others
7.3. Europe Forklift IoT Solutions Market, by Application, 2016-2028(US$ Bn)
7.3.1. Overview
7.3.2. Construction
7.3.3. Warehouse & Logistics
7.3.4. Automotive
7.3.5. Others

8. Asia Pacific
8.1. Asia Pacific Forklift IoT Solutions Market, by Country, 2016-2028(US$ Bn)
8.1.1. China
8.1.2. Japan
8.1.3. South Korea
8.1.4. India
8.1.5. Australia
8.1.6. New Zealand
8.1.7. Taiwan
8.1.8. Indonesia
8.1.9. Malaysia
8.1.10. Philippine
8.1.11. Rest of Asia Pacific
8.2. Asia Pacific Forklift IoT Solutions Market, by Type, 2016-2028(US$ Bn)
8.2.1. Overview
8.2.2. GPS
8.2.3. Sensors
8.2.4. Driver Assistance System
8.2.5. Others
8.3. Asia Pacific Forklift IoT Solutions Market, by Application, 2016-2028(US$ Bn)
8.3.1. Overview
8.3.2. Construction
8.3.3. Warehouse & Logistics
8.3.4. Automotive
8.3.5. Others

9. Latin America
9.1. Latin America Forklift IoT Solutions Market, by Country, 2016-2028(US$ Bn)
9.1.1. Brazil
9.1.2. Argentina
9.1.3. Peru
9.1.4. Chile
9.1.5. Colombia
9.1.6. Rest of Latin America
9.2. Latin America Forklift IoT Solutions Market, by Type, 2016-2028(US$ Bn)
9.2.1. Overview
9.2.2. GPS
9.2.3. Sensors
9.2.4. Driver Assistance System
9.2.5. Others
9.3. Latin America Forklift IoT Solutions Market, by Application, 2016-2028(US$ Bn)
9.3.1. Overview
9.3.2. Construction
9.3.3. Warehouse & Logistics
9.3.4. Automotive
9.3.5. Others

10. Middle East
10.1. Middle East Forklift IoT Solutions Market, by Country, 2016-2028(US$ Bn)
10.1.1. UAE
10.1.2. KSA
10.1.3. Israel
10.1.4. Turkey
10.1.5. Iran
10.1.6. Rest of Middle East
10.2. Middle East Forklift IoT Solutions Market, by Type, 2016-2028(US$ Bn)
10.2.1. Overview
10.2.2. GPS
10.2.3. Sensors
10.2.4. Driver Assistance System
10.2.5. Others
10.3. Middle East Forklift IoT Solutions Market, by Application, 2016-2028(US$ Bn)
10.3.1. Overview
10.3.2. Construction
10.3.3. Warehouse & Logistics
10.3.4. Automotive
10.3.5. Others

11. Africa
11.1. Africa Forklift IoT Solutions Market, by Country, 2016-2028(US$ Bn)
11.1.1. South Africa
11.1.2. Egypt
11.1.3. Nigeria
11.1.4. Rest of Africa
11.2. Africa Forklift IoT Solutions Market, by Type, 2016-2028(US$ Bn)
11.2.1. Overview
11.2.2. GPS
11.2.3. Sensors
11.2.4. Driver Assistance System
11.2.5. Others
11.3. Africa Forklift IoT Solutions Market, by Application, 2016-2028(US$ Bn)
11.3.1. Overview
11.3.2. Construction
11.3.3. Warehouse & Logistics
11.3.4. Automotive
11.3.5. Others

12. Global
12.1. Global Forklift IoT Solutions Market, by Type, 2016-2028(US$ Bn)
12.1.1. Overview
12.1.2. GPS
12.1.3. Sensors
12.1.4. Driver Assistance System
12.1.5. Others
12.2. Global Forklift IoT Solutions Market, by Application, 2016-2028(US$ Bn)
12.2.1. Overview
12.2.2. Construction
12.2.3. Warehouse & Logistics
12.2.4. Automotive
12.2.5. Others

13. Company Profiles
13.1. Bosch
13.2. Cisco
13.3. Cognizant
13.4. Huawei
13.5. PTC
13.6. SAP
13.7. Sierra Wireless
13.8. Software AG
13.9. Zebra Technologies
13.10. Others
List of Figures
FIG. 1 Global Forklift IoT Solutions Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Forklift IoT Solutions Market Segmentation
FIG. 4 Global Forklift IoT Solutions Market, by Type, 2019 (US$ Bn)
FIG. 5 Global Forklift IoT Solutions Market, by Application, 2021 (US$ Bn)
FIG. 6 Global Forklift IoT Solutions Market, by Geography, 2021 (US$ Bn)
FIG. 7 Attractive Investment Proposition, by Geography, 2021
FIG. 8 Global Market Positioning of Key Forklift IoT Solutions Market Manufacturers, 2019
FIG. 9 Global Forklift IoT Solutions Market Value Contribution, By Type, 2021 & 2028 (Value %)
FIG. 10 Global Forklift IoT Solutions Market, by GPS, Value, 2016-2028 (US$ Bn)
FIG. 11 Global Forklift IoT Solutions Market, by Sensors, Value, 2016-2028 (US$ Bn)
FIG. 12 Global Forklift IoT Solutions Market, by Driver Assistance System, Value, 2016-2028 (US$ Bn)
FIG. 13 Global Forklift IoT Solutions Market, by Others, Value, 2016-2028 (US$ Bn)
FIG. 14 Global Forklift IoT Solutions Market Value Contribution, By Application, 2021 & 2028 (Value %)
FIG. 15 Global Forklift IoT Solutions Market, by Construction, Value, 2016-2028 (US$ Bn)
FIG. 16 Global Forklift IoT Solutions Market, by Warehouse & Logistics, Value, 2016-2028 (US$ Bn)
FIG. 17 Global Forklift IoT Solutions Market, by Automotive, Value, 2016-2028 (US$ Bn)
FIG. 18 Global Forklift IoT Solutions Market, by Others, Value, 2016-2028 (US$ Bn)
FIG. 19 U.S. Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 20 Rest of North America Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 21 U.K. Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 22 Germany Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 23 France Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 24 Italy Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 25 Spain Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 26 Russia Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 27 BENELUX Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 28 Poland Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 29 Austria Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 30 Rest of Europe Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 31 Japan Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 32 China Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 33 India Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 34 South Korea Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 35 Australia Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 36 Southeast Asia Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 37 Rest of Asia Pacific Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 38 Middle East & Africa Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 39 South Africa Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 40 Nigeria Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 41 Egypt Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 42 GCC Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 43 Israel Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 44 Latin America Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 45 Mechanicalzil Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 46 Argentina Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 47 Colombia Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 48 Peru Forklift IoT Solutions Market, 2016-2028 (US$ Bn)
FIG. 49 Chile Forklift IoT Solutions Market, 2016-2028 (US$ Bn)

List of Tables
TABLE 1 Market Snapshot: Global Beauty Devices (Forklift IoT Solutions) Market
TABLE 2 Global Forklift IoT Solutions Market, by Type, 2016-2028 (US$ Bn)
TABLE 3 Global Forklift IoT Solutions Market, by Application, 2016-2028 (US$ Bn)
TABLE 4 Global Forklift IoT Solutions Market, by Geography, 2016-2028 (US$ Bn)
TABLE 5 North America Forklift IoT Solutions Market, by Type, 2016-2028 (US$ Bn)
TABLE 6 North America Forklift IoT Solutions Market, by Application, 2016-2028 (US$ Bn)
TABLE 7 North America Forklift IoT Solutions Market, by Country, 2016-2028 (US$ Bn)
TABLE 8 Europe Forklift IoT Solutions Market, by Type, 2016-2028 (US$ Bn)
TABLE 9 Europe Forklift IoT Solutions Market, by Application, 2016-2028 (US$ Bn)
TABLE 10 Europe Forklift IoT Solutions Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 11 Asia Pacific Forklift IoT Solutions Market, by Type, 2016-2028 (US$ Bn)
TABLE 12 Asia Pacific Forklift IoT Solutions Market, by Application, 2016-2028 (US$ Bn)
TABLE 13 Asia Pacific Forklift IoT Solutions Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 14 Latin America Forklift IoT Solutions Market, by Type, 2016-2028 (US$ Bn)
TABLE 15 Latin America Forklift IoT Solutions Market, by Application, 2016-2028 (US$ Bn)
TABLE 16 Latin America Forklift IoT Solutions Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 17 Middle East Forklift IoT Solutions Market, by Type, 2016-2028 (US$ Bn)
TABLE 18 Middle East Forklift IoT Solutions Market, by Application, 2016-2028 (US$ Bn)
TABLE 19 Middle East Forklift IoT Solutions Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 20 Africa Forklift IoT Solutions Market, by Type, 2016-2028 (US$ Bn)
TABLE 21 Africa Forklift IoT Solutions Market, by Application, 2016-2028 (US$ Bn)
TABLE 22 Africa Forklift IoT Solutions Market, by Country/Region, 2016-2028 (US$ Bn)