"Rapid Growth in Real-time Sales Tracking predicted to uplift the Global Warehouse Management Systems Market"
The global warehouse management systems market was stood at US$ 5.00 Bn in the year 2021 and expected to reach US$ 18.39 Bn by the year 2030, expanding at a CAGR of 15.6% during the forecast from 2023 to 2030.
Increasing complexity in the supply chain has stressed distribution management. Furthermore, volatility in demand and supply along with ever-changing consumer preference has significantly affected the warehouse operations. Warehouse Management System (WMS) helps in maintaining inventory with live tracking of sales and production to meet consumer demand in less possible time. This system also provides flexibility to work adjacently in changing business and market conditions. In other words, a warehouse management system is a combination of hardware, software, and services that reduces human effort in inventory management smartly.
"Warehouse Management Services expected to witness a Flourishing Growth during the Forecast Period"
Software expected to dominate the global warehouse management systems market during the forecast period owing to increasing awareness of WMS software in small & medium enterprises. In addition, a trend shift from an on-premise system to a cloud-based system has proliferated the WMS software demand magnificently. However, the integration of artificial intelligence with WMS software enhances the consumer experience to another level. They help in the management of inbound & outbound operation, order & fulfillment management, sales tracking, and many more.
On the contrary, services expected to witness escalating growth during the forecast period. The prime factors attributed to the segment growth is mainly due to the prominent rise in third-party inventory management services due to lack of sufficient warehouse space available with the companies. In addition, these services seek circulation in demand from different small and medium enterprises.
"Food & Beverage Captured Lucrative Market Revenue Share in the year 2018"
Food & beverage industry witnesses lucrative growth over the forecast period along with significant revenue share in the year 2021. The burgeoning growth of the segment is mainly due to the volatility in demand & sales coupled with rapidly changing consumer preference over a minor time frame. Furthermore, the rising trend of packaged & processed food, increasing concern of food safety, and a surge in the number of online retail companies have transformed the food & beverage industry largely and developed impulsive pressure in fulfilling the consumer demand on time. Inventory management helps in optimizing food safety along with reduces the wastage of perishable goods. Also, optimizes the packaging and transit process that reduces the cost.
"The Asia Pacific registered the fastest growth over the Forecast Period"
The Asia Pacific is projected to flourish prominently between 2023 & 2030. The regional growth is attributed to the rapid growth in e-commerce, manufacturing, and retail sectors especially in developing nations such as India, China, and Indonesia. China is one of the major revenue contributors in the retail and e-commerce industry. In addition, the country has a huge manufacturing sector along with rising preference for domestic production. Therefore, the above factors are burgeoning the warehouse management systems trend in the Asia Pacific significantly.
Key Players & Competitive Landscape:
"Rising Investment on Research & Development expected to sour the Warehouse Management System Demand in the Coming Years"
The global warehouse management systems market is highly competitive and still reflects nascent behavior due to on-going innovation and integration in the software and solutions. Market players are largely focused on expanding their portfolio and global reach by merger and acquisition of warehouse management solution providers.
List of Companies Covered:
Key Industry Development:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Warehouse Management System market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Key questions answered in this report
