According to a recent market study published by Growth Market Reports, titled, “Global Forklift Vehicle Mounted Terminals (VMT) Market by Product Type, by Touch Type, by Display Size, by Operating System, by Casing Material, by Input Type, by Application, and by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 7233.0 Million in 2022 and is expected to grow at a moderate growth rate of 7.4% by the year 2031.
The Global Forklift Vehicle Mounted Terminals (VMT) Market volume is estimated at 2.12 Million units in 2022 and is projected to reach at 3.47 Million units in 2031.
As per Growth Market Reports industry analyst Divjot Singh, “Global Forklift Vehicle Mounted Terminals (VMT) Market is anticipated to witness significant growth during the forecast period 2023-2031. Vehicle-mount terminals are the equipments that are fitted into a wide range of forklifts to provide users with superior safety, performance, diagnostics, and entertainment. Vehicle-mounted terminals play an important role in warehouse management. In Transportation & Logistics sector, downtime at any point in the supply chain management is a major problem. Forklift Vehicle-mounted terminals are meant to remove data entry lag time and to keep personnel connected throughout the operation, providing a high-efficiency inventory management solution.
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Key factors that are anticipated to fuel the demand for the global Forklift Vehicle Mounted Terminals (VMT) market during the forecast period is Rising safety concerns and government regulations is propelling the Forklift Vehicle Mounted Terminals (VMT) Market. Conversely, High installation cost and availability of substitutes hamper the market growth of the Forklift Vehicle Mounted Terminals (VMT) market. Rise in E-commerce industry creates opportunities in the market.
Supply chain management is an essential part of any business. A supply chain contains a series of steps to get products from their original state to the customers. The supply chain of the Forklift Vehicle Mounted Terminals (VMT) market involves raw material suppliers, manufacturers, distributors, and end-users. Raw materials such as electronic components such as Display panels, PCBs, Sensors, and others are sourced by manufacturers. Manufacturers use raw materials, such as Display panels, PCBs, Sensors and others, to manufacture Forklift Vehicle Mounted Terminals (VMT). Quality checks are performed throughout the production process by manufacturers to ensure the quality of the product. These products are then supplied to the distributors, who provide them to the end-users. End-users are the final step of the supply chain where consumption takes place. End-users of Forklift Vehicle Mounted Terminals (VMT) include Manufacturing facilities and Transportation and logistics.
The primary, as well as secondary research methodology, is used for keen observation and study about the Forklift Vehicle Mounted Terminals (VMT) market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry. On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.
The COVID-19 has significant impact on the Forklift Vehicle Mounted Terminals (VMT) market in 2020. Disruptions in supply chains in the early months of the pandemic led to shortages and price increases. A decline in demand for Forklift Vehicle Mounted Terminals (VMT) was registered due to the logistics challenges, factories were shut down, and also shortages of labors.
Key Takeaways from the Study:
Based on product type, the global Forklift Vehicle Mounted Terminals (VMT) market is bifurcated into Fixed Terminals and Portable Terminals. The Portable terminals segment is expected to hold a significant market share during the forecast period due to the increasing demand for the light-weight and useful designs to enhance user comfort and productivity.
In terms of Touch type, the Forklift Vehicle Mounted Terminals VMT market bifurcated into Resistive Touch and Capacitive touch. The Capacitive touch segment is expected to grow at a significant CAGR during the forecast period due to their high sensitivity and responsiveness touch that becomes popular among consumer devices such as smartphones and tablets.
Based on the Display Size, the global Forklift Vehicle Mounted Terminals VMT market is segmented into Less than 7 inches, 7 to 10 Inches, and More than 10 inches. The 7 to 10 Inches segment is expected to grow at a significant CAGR during the forecast period. This display size provides more improved visibility and also suitable for applications such as navigation and data entry.
Based on operating system, the Forklift Vehicle Mounted Terminals VMT market is segmented into Android, Linux, and Windows. The Linux segment is expected to hold a significant market share during the forecast period due to its stability and security.
On the basis of Casing Material, the global Forklift Vehicle Mounted Terminals VMT market is segmented into Aluminum, Steel, and Others. The Aluminum segment is expected to hold a significant market share during the forecast period due to its lightweight properties that helps to reduce the overall weight of the forklift vehicle mounted terminals.
Based on Input Type, the global Forklift Vehicle Mounted Terminals VMT market is segmented into Integrated keyboard and Touch. The Integrated keyboard segment is expected to hold a significant market share during the forecast period and is projected to expand at a significant CAGR.
Based on application, the global Forklift Vehicle Mounted Terminals VMT market is segmented into Manufacturing Facilities, Warehouse & Distribution, Transportation & Logistics, and Others. The Manufacturing Facilities segment is expected to grow at a significant CAGR during the forecast period. In manufacturing facilities there is growing demand for the automated systems in which forklift vehicle mounted terminals are integrated to provide real-time data on material process and inventory levels.
Based on region, the global Forklift Vehicle Mounted Terminals VMT market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is expected to witness a moderate growth rate in the forklift vehicle mounted terminal market during the forecast period. The factors that influence the market growth in this region are the rising industrialization, the growing demand for electric and hybrid forklifts, the expansion of logistics and manufacturing sectors, and the environmental concerns.
Report Scope:
Report Metric |
Details |
Market Value in 2022 |
USD 7233.0 Million |
Market Growth Rate (from 2022 to 2031) |
7.4% |
Historical Data |
2016-2021 |
Base Year |
2022 |
Forecast Period |
2023 - 2031 |
Units Considered |
Value (USD Million) |
Market Segments |
by Product Type, by Touch Type, by Display Size, by Operating System, by Casing Material, by Input Type, by Application, and by Region. |
Key Companies Profiled |
ACD Gruppe, Advantech Co., Ltd., Darveen Technology Ltd, Datalogic S.p.A., Honeywell International Inc., JLT Mobile Computers, Panasonic Connect, Shenzhen Jawest Electronic Technology Co.,Ltd., STX Technology Global, Winmate Inc., and Zebra Technologies Corp. |
Customization Scope |
Report customization available on request |
Pricing and Purchase Options |
Avail tailor-made purchase options to meet your research requirements. |
Target Audience:
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Supply-side: Manufacturers, raw material suppliers, and distributors
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Demand Side: Manufacturing facilities and Transportation & Logistics