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

*Browse market data tables and figures on "Smart Pallet Sensors Market - Global forecast to 2027”.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users