Forklift Vehicle Mounted Terminals (VMT) Market Size [2031]

Report Description

Forklift Vehicle Mounted Terminals (VMT) Market Outlook

The Global Forklift Vehicle Mounted Terminals (VMT) Market was valued at USD 7,233.0 Million in 2022 and is projected to reach USD 13,375.0 Million by 2031, expanding at a CAGR of 7.4% during the forecast period.

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.

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Forklift Vehicle Mounted terminals are also named as Vehicle Mounted Computers and Vehicle Mounted Units. They are specialized computing devices or ruggedized computers that are mounted on forklifts and other industrial vehicles. They act as a link between the vehicle operator and the warehouse management systems. They have been specifically designed to withstand vibrations from forklifts, delivery trucks, and a multitude of other vehicles. Vehicle Mounted Units assist in increasing productivity and a reduction in errors. These units are also exceptionally durable, with IP65/IP67 ratings.

Macro-Economic Factors

Economic growth

Economic growth is one of the key macroeconomic factors that influence the Forklift Vehicle Mounted Terminals VMT Market. The overall economic growth of countries and regions drives market growth. Strong economic growth frequently results in increased industrial activity, which increases demand for forklifts and related terminals. As economies grow, so there is demand for more modern warehousing and logistics solutions, which drives demand for forklifts and related equipment.

Trade Policies

Trade policies are a crucial factor influencing the global forklift vehicle mounted terminals market. Trade regulations and tariffs can have an impact on the cost and availability of forklifts and their associated technology, as these devices are frequently used in logistics and supply chain operations that rely on international trade. Furthermore, trade agreements, such as free trade agreements, can boost cross-border trade by lowering costs and enhancing market growth potential.

Infrastructure development

The growth of logistics infrastructure, such as warehouses, distribution centers, and ports, can increase the demand for forklifts and terminal systems. The condition of transportation infrastructure, such as roads, railways, and ports, has a significant impact on the movement of products. Transportation networks that are well-developed increase the efficiency of supply chains by encouraging the employment of forklifts and vehicle-mounted terminals in warehouses and logistics hubs.

E-commerce has increased the demand for advanced warehouse and distribution infrastructure. Infrastructure development in urban areas, including smart city development, can have an important impact. Smart logistics and warehouse solutions, which frequently include innovative technologies such as vehicle mounted terminals, are critical components of modern urban development.

Forklift Vehicle Mounted Terminals (VMT) Market Dynamics

Market Driver- Rising safety concerns and government regulations is driving the Forklift Vehicle Mounted Terminals (VMT) Market.

The growing safety concerns of the labors are driving the Forklift Vehicle Mounted Terminal Market. The steady increase in automobile production has resulted in massive traffic in many parts of the world. In regions with high population densities, the traffic is bound to remain high. This has a significant impact on rising automobile safety requirements, which encourages the use of high-efficiency forklift vehicle mounted terminals for safety and vehicle diagnostic applications.

For example, India has proposed a regulation that would require advanced safety systems such as electronic stability control (ESC) and automated emergency braking (AEB) to be included in new vehicles between 2022 and 2023.

This rule will increase the demand for forklift truck mounted terminals in order to improve vehicle performance and safety standards. Furthermore, expanding connection services and better safety features will be important growth drivers for the Forklift Vehicle Mounted Terminal Market.

Market Restraint - High installation cost and availability of substitutes

One of the most important challenges limiting the global market growth of Forklift Vehicle Mounted Terminals (VMT) is their high installation cost. With technological advancements, vehicle-mount computers are no longer just used for entertainment purposes, but are now being incorporated into vehicles to improve passenger safety and vehicle performance.

This increased feature installation increases the overall cost of vehicle-mount terminals, which generally restricts their market expansion in many regions of the world. Furthermore, the development of substitutes for in-built computers such as tablets, Panel PCs, and other systems are major barriers to the adoption of vehicle-mount terminals, limiting their global market growth.

Market Opportunity – Rise in E-commerce industry

E-commerce business require efficient warehousing and logistics solutions. Forklift vehicle-mounted terminals help to optimize inventory management, picking, and shipping processes, leading to increased demand for these systems. Forklift terminals provide real-time access to inventory and order information, enabling faster order
processing and reducing errors in e-commerce fulfillment centers.

E-commerce companies rely on accurate inventory tracking to prevent overstocking or stockouts. Forklift mounted terminals facilitate real-time inventory updates and reduce the risk of discrepancies. These factors are expected to create opportunities for the growth of the Forklift Vehicle Mounted Terminals (VMT) market.

Scope of Forklift Vehicle Mounted Terminals (VMT) Market Report

The report on the global Forklift Vehicle Mounted Terminals VMT market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Forklift Vehicle Mounted Terminals (VMT) Market Segmental Outlook

The global Forklift Vehicle Mounted Terminals VMT market is segmented on the basis of by Product Type, by Touch Type, by Display Size, by Operating System, by Casing Material, by Input Type, and  by Application.

On the basis of product type, the global Forklift Vehicle Mounted Terminals VMT market is bifurcated into Fixed Terminals and Portable Terminals. Fixed Terminals segment is expected to hold a significant market share during the forecast period due to the increasing demand for the durable and rugged devices that can help to operate in harsh environments.

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In terms of Touch type, the Forklift Vehicle Mounted Terminals VMT market bifurcated into Resistive Touch and Capacitive touch. Resistive touch is expected to hold a significant market share during the forecast period and is projected to expand at a significant CAGR due to their durability and can be operated through various objects such as styluses and gloves.

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 less than 7 inches segment is expected to hold a significant market share during the forecast period due to the vehicle mounted terminals having compact screen size display are gaining popularity among various logistics industries.

Based on operating system, the Forklift Vehicle Mounted Terminals VMT market is segmented into Android, Linux, and Windows. The windows segment is expected to hold a significant market share during the forecast period due to its familiar interface and compatibility with wide range of software applications.

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.

Based on application, the global Forklift Vehicle Mounted Terminals VMT market is segmented into Manufacturing Facilities, Warehouse & Distribution, Transportation & Logistics, and Others. The Transportation & Logistics segment is expected to hold a significant market share during the forecast period due to the rise in demand for e-commerce and fast delivery options.

Regional Outlook

On the basis of region, the global Forklift Vehicle Mounted Terminals VMT market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region is expected to hold a significant share of the global forklift vehicle mounted terminal market in terms of demand generation.

The factors that drive the market growth in this region are the presence of large warehouse spaces, the adoption of advanced technologies, the increasing e-commerce activities, and the stringent safety regulations.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Forklift Vehicle Mounted Terminals VMT Market

• Historical, Current, and Projected Market Size in terms of Value and Volume

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on Global Forklift Vehicle Mounted Terminals VMT Market