Hi, what are you looking for?
Warehouse Management Systems Market Overview
The global warehouse management systems market size was valued at USD 2.94 billion in 2021 and is anticipated to reach USD 11.08 billion by 2030, at a CAGR of 16.1% from 2022 to 2030.
Growing economies across the globe have propelled various sectors such as healthcare, manufacturing, and retail to achieve highly efficient operations in order to increase their output and meet consumer demand. In an attempt to address growing demands, logistics companies are continuously progressing to overcome challenges created by fluctuating product markets and shipping schedules.
A warehouse management system helps reduce lead time, increase product delivery speed, and minimize distribution costs. The software is designed to cater to complex, sophisticated warehouse operations as well as tackle less complex resource-constrained operations. Besides, the WMS software is used by various end-users such as third-party logistics, B2B distribution companies, and other manufacturing companies.
Gather more insights about the market drivers, restrains and growth of the Global Warehouse Management Systems Market
Demand for WMS is anticipated to witness a sharp rise due to changing supply chain models of product manufacturers and rapidly growing consumer demand, especially in the transport & logistics, and retail sectors. The need for manufacturers to automate warehouse management processes and curtail costs globally is one of the key trends triggering the market growth. Spiraling demand for the system may be attributed to its ability to ship products in the fastest possible time through the shortest shipping routes.
Customers prefer cloud-based WMS services to on-premise solutions, as the former ensures cost reduction on the service. Software-as-a-Service (SaaS) was introduced to meet the burgeoning demand for cloud-based services as it offers a low upfront cost and enables faster implementation in warehouses. These systems can manage both inbound and outbound freight and cross-docking. These systems are also compatible with other supply chain systems such as business analytics, transportation management systems, slotting management, and yard management.
Furthermore, cloud-based warehouse management system solutions can be accessed from any location through web-based portals. These systems extend supply chains to align fulfillment services and inventory management with advanced purchasing methods and provide real-time visibility into an entire inventory available via browsers and smartphones.
In the wake of the recent COVID-19 outbreak, there has been a significant disturbance in most industries across the globe. While few industries experienced a contraction in their productions and businesses, others faced severe outcomes such as the shutdown of businesses and movement restrictions. For instance, travel, entertainment, food & beverage, and hospitality industries had the most retrenchments, and on the other hand, healthcare and e-commerce businesses had an upsurge in demand.
The demand for warehousing has increased due to the rising trend of online purchasing. The implementation of lockdowns, social distancing, and various other safety measures in response to the pandemic has led consumers to pursue online purchasing. Therefore, several multinational companies are setting up new warehouses across numerous countries to accommodate this upsurged demand.
This has resulted in the growing use of warehouse management systems in e-commerce and third-party logistics industries. E-commerce companies such as Amazon.com, Inc., Alibaba.com., and eBay Inc. are ramping up the demand for WMS as they continue to set up new warehouses across the globe.
Warehouse Management Systems Market Segmentation
Based on the Component Insights, the market is segmented into Software and Services.
Based on the Deployment Insights, the market is segmented into On-premise and Cloud.
Based on the Function Insights, the market is segmented into Labor Management System, Analytics & Optimization, Billing & Yard Management, Systems Integration & Maintenance and Consulting Services.
Based on the Application Insights, the market is segmented into Transportation & Logistics, Retail, Healthcare, Manufacturing, Food & Beverage and Others.
Based on the Warehouse Management Systems Regional Insights, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa (MEA)
Browse through Grand View Research’s IT Services & Applications Industry Research Reports.
The market participants are focusing on several strategies to gain a higher market share. Mergers, acquisitions, partnerships, and other contractual agreements are being announced by them to emerge as the top warehouse management system company. Moreover, these players are investing in research and development activities to bring new services to the market.
Some prominent players in the global Warehouse Management Systems market include
Order a free sample PDF of the Warehouse Management Systems Market Intelligence Study, published by Grand View Research.
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
Web: https://www.grandviewresearch.com
Media Contact Company Name: Grand View Research, Inc. Contact Person: Sherry James, Corporate Sales Specialist – U.S.A. Email: Send Email Phone: 1888202951 Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States City: San Francisco State: California Country: United States Website: https://www.grandviewresearch.com/industry-analysis/warehouse-management-system-wms-market
The U.S. infant formula market collapsed this year after the country’s largest manufacturer closed its plant.
Moscow-backed separatist forces in eastern Ukraine say they have captured Lyman, a strategic town connecting key cities in the east.
Carolina Soto, a member of Chile's Mapuche indigenous community, says talks with the government are not possible without official recognition of the community -...
Moscow is pressing its offensive to capture key points of the Donbas region with more bombing of residential areas - Copyright AFP ARIS MESSINISPatrick...
COPYRIGHT © 1998 - 2022 DIGITAL JOURNAL INC. Digital Journal is not responsible for the content of external sites. Read more about our external linking.