Warehouse Management Systems Market Overview: Key Players, Technologies, and Market Size
Robust growth in the e-commerce industry and increased demand for cloud WMS solutions are driving the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATES, January 22, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global warehouse management systems market was estimated at $2.4 billion in 2020 and is expected to hit $10.6 billion by 2030, registering a CAGR of 16.3% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Global warehouse management system is software that assists businesses in managing and controlling day-to-day warehouse operations from the point at which goods and materials enter a distribution or fulfillment center to the point at which they depart. Furthermore, WMS software systems provide real-time visibility into a company’s complete inventory, both in transit and at warehouses, and are a crucial part of supply chain management.
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Additionally, a WMS also provides solutions for resource utilization, analytics, picking and packing procedures, inventory management, and more. Furthermore, Robust growth in the e-commerce industry and increased demand for cloud WMS solutions are driving the growth of the market. In addition, surge in the adoption of multichannel distribution networks is fueling the growth of the Warehouse management system market.
Advancements in industrial-grade digital technology, growth of e-commerce, and growing demand for improved supply chain and customer relationship management drive the growth of the warehouse management system market. However, costly deployment of WMS solutions, lack of process standardization in distribution and insufficient knowledge of WMS among small-scale industries hinder the market growth. Moreover, suppliers’ need for obtaining greater efficiency and productivity offer lucrative opportunity for growth of the WMS market.
Based on the deployment model, the on-premise segment grabbed the major share in 2020, garnering nearly three-fifths of the global warehouse management systems industry, and is likely to lead the trail through 2030. However, the cloud-based segment is expected to grow at the fastest CAGR of 18.7% through the forecast period.
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Based on component type, the software segment held the major share of more than three-fifths of the global market in 2020 and is likely to hold its lead status through the forecast period. However, the services segment is expected to exhibit the fastest CAGR of 18.7% in 2030.
Depending on the user type, the large enterprise segment dominated the warehouse management system market share in 2021 and is expected to continue this trend during the forecast period, owing to the increase in dependence on warehouse management solutions due to increasing demand from consumers is expanding quickly and manufacturers supply chains are evolving, particularly in the transport and logistics and retail sectors. However, the SMEs segment is expected to witness the highest growth rate in the warehouse management system market analysis, owing to the increase in investments by the market players to develop security cloud services for SMEs.
Region-wise, the warehouse management system market was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to the rising demand for cloud-based services as it offers a low upfront cost and enables faster implementation in warehouses, and government initiatives promoting digitization and automation aiding the growth of the warehouse market. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to expanding access to supply chain services for more people means a higher growth rate over the region, which is expected to fuel the warehouse management system market size in this region.
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The report focuses on growth prospects, restraints, and analysis of the global warehouse management system market trend. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, threat of substitutes, and bargaining power of buyers on the global warehouse management system market share.
COVID-19 Scenario-
• The COVID-19 outbreak created a significant turmoil in most industries globally. While few companies faced a reduction in business operations, others faced severe outcomes such as shutdown of businesses.
• However, the pandemic positively impacted the growth of the warehouse management system market as the implementation of measures such as lockdowns and social distancing led consumers to opt for online purchasing, thus raising the demand for warehousing and WMS technologies.
The Warehouse Management System (WMS) market is immensely impacted by the outbreak of COVID-19 as consumers are rapidly migrating to internet platforms. This is due to a surge in online demand for food and drink, necessities, and prescription drugs, which allowed for the use of novel contactless techniques. In order to meet the growing e-commerce demand, the demand for a range of products has expanded online, which has raised the need for warehousing. As a result, warehouse management systems are growing in popularity as a means of development for businesses engaged in e-commerce and third-party logistics. As they build new facilities throughout the world, e-commerce behemoths like Amazon, Alibaba, and eBay are predicted to continue pushing up demand for warehouse management systems. Additionally, the situation is improving as most manufacturers had adopted lean manufacturing as a best practice.
The global warehouse management system market is dominated by key players such as Blue Yonder Group, Inc., HighJump Software, Inc.(koeber), IBM Corporation, Infor Inc., Manhattan Associates, Inc., Oracle Corporation, PSI Logistic (PSI AG), SAP SE, Softeon, Inc., and Tecsys, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in warehouse management system industry.
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