Warehouse Management System Market to Grow at CAGR of 16.92% through 2032 – Macroeconomic Opportunities, Value-Chain Analysis, Economic Growth & Forecast
The warehouse management system market size is anticipated to grow from USD 2.93 Billion in 2022 to USD 13.98 Billion in 10 years. The market should witness a moderate growth rate owing to the increasing demand for digitalization of supply chain analytics. Further, the increasing investment in the logistics industry provides a lucrative opportunity for the warehouse management system market.
Newark, Oct. 13, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the warehouse management system market will grow from USD 2.93 Billion in 2022 to USD 13.98 Billion by 2032. The warehouse management system market is expanding due to the growing need to increase product delivery speed and minimize distribution costs and lead time. Further, many organizations invest in such software to increase their control over the distribution of goods.
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Key Insight of the Warehouse Management System Market
North America region to account for the largest market size during the forecast period.
North America region will hold a significant market share due to the rising number of manufacturers investing in automation solutions to digitalize warehouse management. Further, many regional organizations are adopting the digital transformation of inventory management operations to simplify their daily tasks. Companies are investing in such advanced systems to cope with the high volume demand and to integrate and maintain different inventory systems.
The services segment is expected to augment the market during the forecast period.
The offering segment is divided into software and services. The services segment is expected to augment the market during the forecast period. Many of these businesses provide services that can assist the end-users in improving their warehouse management procedures and signage solutions for improved operations. Several warehouse management services can be used to increase the scope and effectiveness of any company.
The cloud segment is expected to augment the market during the forecast period.
The deployment mode segment is divided into on-premises and cloud. The cloud segment is expected to augment the market during the forecast period. Cloud-based warehouse management system software can frequently be accessed online without downloading. In a cloud software system, the warehouse uses an online connection to the program, enabling customers to securely log in from any connected device—rather than just on-site terminals with the software installed.
The systems integration & maintenance segment is expected to augment the market during the forecast period.
The function segment is divided into analytics & optimization, labour management system, billing & yard management, consulting services and systems integration & maintenance. The systems integration & maintenance segment is expected to augment the market during the forecast period. Integrating systems improves workflow efficiency by enabling centralized control over daily operations. The seamless execution of all the crucial processes of logistics operation is made possible by its interaction with the warehouse management system.
The retail & e-commerce segment will augment the market during the forecast period.
The end-users segment is divided into healthcare, transport and logistics, food and beverages, retail & e-commerce and others. The retail & e-commerce segment will augment the market during the forecast period. The warehouse management system enables retailing and e-commerce organizations to control and manage warehouse operations, including inventory management, procedures and auditing, order fulfilment, tracking capability, labour management, analytics and reporting, etc.
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Driver: Efficient as compared to traditional inventory services
With a warehouse management system, companies can view the shipment’s whereabouts at any moment with the help of smart tracking. The enterprises can use it to find the precise location of the arrival and leaving of shipments. Companies can track shipment times, reroute products, and give clients real-time updates about the shipment status using innovative tracking platforms. Racking software will help the business become more efficient and promote a customer-centric mindset. The leading companies in the industry are digitizing every element of their business for better customer support. This is the main reason why most of the players in the market are attempting to leverage technology to conduct their daily operations more effectively.
Restraint: Limitations related to data transfer
The data management is not automated once the data sources, connections, and systems are connected to their warehouse management system. Likely, one will still need to devote some time to ensuring their data is moving appropriately and that all integrations are still linked. Thus, due to this, there is a need for more warehouse management systems.
Opportunity: Digitalization of supply chain management
The supply chain in today’s world comprises distinct and separate stages, including marketing, product development, production, distribution, and even end-users and after-sales services. Due to technological advancements, digitization has permeated every aspect of the supply chain. The digitalization of the supply chain aids in developing a completely interconnected ecosystem that is transparent to all parties involved, from the suppliers of raw materials, components, and parts to the carriers of supplies and finished items, and finally to the customers who require fulfilment. Logistics has seen a significant transformation over the past thirty years, with a rising need for increasing production lines to manage large sales volumes.
Challenges: Lack of awareness among mid and small-scale organizations
Many consumers want to refrain from investing in the warehouse management system, even if it provides advantages. In developing regions such as Asia-Pacific, the Middle East, and Latin America, there needs to be more awareness of the deployment of warehouse management software. In underdeveloped and developing countries, many mid and small-scale companies must know the system and its uses. This leads to the underutilization of credentialing software, which limits the ROI of its investment.
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Some of the major players operating in the Warehouse Management System market are:
• Körber AG
• Manhattan Associates
• PSI Logistics
• Synergy Ltd.
• Blue Yonder Group, Inc.
Key Segments Cover in the Market:
By Deployment Mode:
• Analytics & Optimization
• Labor Management System
• Billing & Yard Management
• Consulting Services
• Systems Integration & Maintenance
• Transport & Logistics
• Food & Beverages
• Retail & E-commerce
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client’s objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client’s requirements whether they are looking to expand or planning to launch a new product in the global market.
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