Smart Pallet Sensors Market - Insights

Smart pallets are plastic or wooden pallets equipped with sensors for tracking products, which are in the supply chain. The smart pallets can measure the humidity and temperature inside the packages when placed upon the smart pallet. This plays an important role during the transportation of food and beverages, and healthcare products. In addition, smart pallet sensors can continuously communicate with the central management system, which helps organizations to track the package effectively and optimize the supply chain.  

The global smart pallet sensors market is expected to exhibit a CAGR of 4.2% over the forecast period (2019–2027). This is owing to increasing demand for optimizing the supply chain and tracking all the products that are transported, which in turn reduces the operational cost and product spoilage during the transportation.

However, data security concerns regarding the consignment is a major factor restraining growth of the market. Smart pallet sensors contain sensitive data related to customers' information and all other details of the consignment. A security breach can cause huge loss to a particular organization.

Figure 1. Global Smart Pallet Sensors Market Share (%), by Region, 2018

Smart Pallet Sensors  | Coherent Market Insights

Source: Coherent Market Insights, 2018-19

North America is estimated to account for largest market share in the global smart pallet sensors market in 2019 and is expected to retain its dominance over the forecast period. This is owing to increasing manufacturing and presence of large consumer electronic product manufacturers such as Apple Inc and Dell, which requires high-level tracking of all their products during transportation. For instance, according to Coherent Market Insights’ analysis, in 2019, the revenue of consumer electronics in North America region reached around US$ 300 billion, which is expected to increase over the forecast period. This creates lucrative opportunity for smart pallet sensor manufacturers in North America. 

Moreover, Asia Pacific region is expected to exhibit highest growth rate over the forecast period, owing to increasing e-commerce industry shipments in the region. Shipment tracking plays a key role in the e-commerce industry, for timely delivery of the package and for handling sensitive packages during transportation. For instance, according to the Economic and Social Commission for Asia and the Pacific, in 2015, the global e-commerce industry for the B2C e-commerce market was valued at US$ 2.3 trillion, which is expected to increase over the forecast period.

Figure 2. Global Smart Pallet Sensors Market Share (%), By Application, 2018

Smart Pallet Sensors  | Coherent Market Insights

Source: Coherent Market Insights, 2018-19

Among application, the security management segment is expected to exhibit a considerable growth rate over the forecast period, owing to increasing demand for package tracking in various end-use industries such as manufacturing, food & beverages, retail, and e-commerce. Security management will enable organizations to work smarter and faster with efficiency and it helps to reduce the cut down on unwanted steps for handling product security and enhance customer experience with timely delivery of package.

Moreover, smart pallet sensors are majorly used in retail industries for inventory control and smart shelving of products, which will help in locating the products in the warehouse, reduce theft, and avoid unwanted replacements. Furthermore, smart pallet sensors can monitor, collect, and aggregate real-time temperature, proximity, and movement data. In addition, smart pallet sensors also detect the change in temperature of the product, which is loaded on the pallet, which in turn helps organizations to manage the quality of the product and reduce spoilage of products. 

Some of the major players operating in the global smart pallet sensors market include ADLINK Technology Inc., Ahrma Group, Ambrosus, Chainvu, Ennomotive, Lightning Technologies LLC., LogTrade, Metiora, NFC Group, RM2., TronicsZone, and others.

A pallet is a portable, horizontal, rigid, composite stand, which is majorly getting adopted as a base for assembling, storing, arranging, stacking, handling, and transportation of a goods. Moreover, pallets are used to stack, store, and transport materials through the material handling equipment such as forklifts, pallet jacks or conveyors. Moreover, pallets are majorly adopted during the racking or bulk storage of various products. These pallets are equipped with various sensors for temperature monitoring, humidity monitoring, and location tracking, which in turn increases transparency across the whole supply chain.

Market Dynamics

Increasing manufacturing output across various end-use industries such as construction and furniture industries in emerging economies such as India and Canada is expected to drive demand for small pallet sensors over the forecast period. For instance, according to India Brand Equity Foundation, through Make in India initiative, the Central Government of India is trying to increase the share of manufacturing sector in GDP to 25% by the year 2022, from 16% in 2019.

Moreover, rising usage of IoT in supply chain is expected to propel market growth over the forecast period. IoT includes connecting any device to the Internet and/or to each other. It can be used for connecting the pallets with the central system through the internet, thereby increasing the efficiency of organizations spending on transportation of materials.

Key features of the study:

  • This report provides in-depth analysis of smart pallet sensors market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019– 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by leading players
  • It profiles leading players in the global smart pallet sensors market systems based on the following parameters – company overview, financial performance, product portfolio, geographical presence, smart pallet sensors market capital, key developments, strategies, and future plans
  • Companies covered as part of this study include ADLINK Technology Inc., Ahrma Group, Ambrosus, Chainvu, Ennomotive, Lightning Technologies LLC., LogTrade, Metiora, NFC Group, RM2., TronicsZone, and others
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, product upgrades, market expansion, and marketing tactics
  • The global smart pallet sensors market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global smart pallet sensors market

Detailed Segmentation:

  • Global Smart Pallet Sensors Market, By Application:
    • Inventory Management
    • Condition Monitoring
    • Asset Tracking & Monitoring
    • Security Management
  • Global Smart Pallet Sensors Market, By End-use Industry:
    • Healthcare
    • Warehousing & Transportation
    • Manufacturing
    • Food & Beverage
    • Retail
  • Global Smart Pallet Sensors Market, By Region:
    • North America
      • By Application:
        • Inventory Management
        • Condition Monitoring
        • Asset Tracking & Monitoring
        • Security Management
      • By End-use Industry:
        • Healthcare
        • Warehousing & Transportation
        • Manufacturing
        • Food & Beverage
        • Retail
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Application:
        • Inventory Management
        • Condition Monitoring
        • Asset Tracking & Monitoring
        • Security Management
      • By End-use Industry:
        • Healthcare
        • Warehousing & Transportation
        • Manufacturing
        • Food & Beverage
        • Retail
      • By Country:
        • Italy
        • Germany
        • France
        • Spain
        • U.K.
        • Rest of Europe
    • Asia Pacific
      • By Application:
        • Inventory Management
        • Condition Monitoring
        • Asset Tracking & Monitoring
        • Security Management
      • By End-use Industry:
        • Healthcare
        • Warehousing & Transportation
        • Manufacturing
        • Food & Beverage
        • Retail
      • By Country:
        • China
        • India
        • Japan
        • Australia & New Zealand
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Application:
        • Inventory Management
        • Condition Monitoring
        • Asset Tracking & Monitoring
        • Security Management
      • By End-use Industry:
        • Healthcare
        • Warehousing & Transportation
        • Manufacturing
        • Food & Beverage
        • Retail
      • By Country
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • By Application:
        • Inventory Management
        • Condition Monitoring
        • Asset Tracking & Monitoring
        • Security Management
      • By End-use Industry:
        • Healthcare
        • Warehousing & Transportation
        • Manufacturing
        • Food & Beverage
        • Retail
      • By Country/Region
        • GCC Countries
        • South Africa
        • Rest of Middle East & Africa
  • Company Profiles
    • ADLINK Technology Inc*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • Ahrma Group
    • Ambrosus
    • Chainvu
    • Ennomotive
    • Lightning Technologies LLC.
    • LogTrade
    • Metiora
    • NFC Group
    • RM2.
    • TronicsZone

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By End-use Industry
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • Value Chain Analysis
      • Porter’s Analysis
      • PEST Analysis
  4. Global Smart Pallet Sensors Market, By Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Inventory Management
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Condition Monitoring
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Asset Tracking & Monitoring
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Security Management
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. Global Smart Pallet Sensors Market, By End-use Industry, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Healthcare
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Warehousing & Transportation
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Manufacturing
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Food & Beverage
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Retail
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. Global Smart Pallet Sensors Market, By Region, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million, and Thousand Units)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million, and Thousand Units)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million, and Thousand Units)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million, and Thousand Units)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Italy
        • Germany
        • France
        • Spain
        • U.K.
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million, and Thousand Units)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million, and Thousand Units)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • Australia & New Zealand
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million, and Thousand Units)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million, and Thousand Units)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Application, 2019–2027 (US$ Million, and Thousand Units)
      • Market Size and Forecast, By End-use Industry, 2019–2027 (US$ Million, and Thousand Units)
      • Market Share Analysis, By Country/Region, 2019 and 2027 (%)
        • Israel
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  7. Competitive Landscape
    • Company Profiles
      • ADLINK Technology Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ahrma Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ambrosus
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Chainvu
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ennomotive
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Lightning Technologies LLC.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • LogTrade
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Metiora
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NFC Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • RM2
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • TronicsZone
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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