According to a new market research report published by Credence Research, “Warehouse Management Systems Market — Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the warehouse management systems market was valued at US$ 3.41 Bn in the year 2018 and expected to reach US$ 12.53 Bn by the year 2027, expanding at a CAGR of 15.6% during the forecast from 2019 to 2027.
Market Insights
“Increasing Demand for Warehouse Services expected to spur the
Warehouse Management Systems demand over the Forecast Period”
Warehouse management is as important
for a company as its production management. This is because it helps in
achieving economies of scale in production or purchasing, reduces
transportation cost, and further reduces the response time. Hence, companies
have drastically improved their warehousing operation over the past years to
sustain in the highly competitive market. However, new transformations in
warehouse industry expected in the near future owing to emergence of new
technologies and disruptive thinking regarding workflow and space. Technologies
such as barcode readers, mobile computers, wireless devices, and small
inventory robots have brought several disruption in the warehouse management.
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These days, companies are
significantly investing in mobile technologies as they increases the inventory
turn and reduces cost remarkably. In addition, Automatic Identification and
Data Collection (AIDC) coupled with mobility provides real-time data for
business driven decision making. Real-time inventory data also helps in
maintaining a record of sales and production. In addition, rising concern of
land availability is burgeoning the warehouse management systems growth.
The global warehouse management
systems market is highly competitive owing huge volatility in the consumer
demand. In addition, market players invest significantly on the enhancement
& feature addition of the existing solution to improve the customer
satisfaction. Present market mainly focuses on the AI and algorithm integration
in the existing software that makes it nascent. Furthermore, the global WMS
market presents dynamic opportunities in the forthcoming years.
Industrial
Developments
- On February 03, 2020, PSI Logistics GmbH
announced to launch a new warehouse management software with expanded
functions range. The software was designed to help companies in dynamic
resource planning & interactive warehouse visualization. - On April 10, 2019, SkuVault, an
e-commerce inventory and warehouse management software announced its
integration with Zudello, a platform that will automate the purchase order
process and invoice. The software will eliminate the need for manual data
entry and streamline the product handling and fulfillment process. - On June 26, 2018, Oracle Corporation
announced to extend the capabilities of its Cloud-based WMS software that
helps in reducing logistics cost, improving consumer experience, and
optimizing inventory process.
Key Market
Movements:
- Globally, the warehouse management
systems market projected to witness a CAGR of 15.6% during the forecast
period from 2019 to 2027 - On-premises dominated the global
warehouse management systems market in the year 2018. Due to prior
emergence of warehouse and inventory management hardware on-premise
deployment was preferred in small and medium enterprises. However, with
the emergence of cloud-based warehouse management software inventory
tracking and fulfillment of consumer demand has become easier. In
addition, Cloud-based software shows prominent growth during the forecast
period. - Software held the largest revenue share
in the year 2018 and depicts steady growth during the forecast period.
Integration of Artificial Intelligence (AI) and other new technologies to
enhance the software performance and consumer experience is one of the prime
factors supporting the growth of software. - Services expected to register profound
growth over the forecast period owing to lack of sufficient inventory
space for every small & medium enterprises. In addition, warehouse
services saves additional inventory cost associated during the off-season. - The Asia Pacific encountered escalating
growth during the forecast period owing to rising e-commerce, retail and
manufacturing industries. However, North America dominated the global WMS
market with dominating e-commerce business worldwide and early acceptance
of warehouse management services across the region.
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List of Companies
Covered:
- Epicor Software
- Manhattan Associates
- JDA Software Group Inc.
- PSI Logistics GmbH
- HighJump Software
- Blujay Solutions Ltd.
- Oracle Corp.
- Softeon
- SAP SE
- Infor
- Tecsys
- Synergy Ltd
- IBM Corp.
- PTC
Market Segmentation:
By Component
Segment
• Hardware
o Mobile Computers
o Barcode Scanners
o Automated Storage & Retrieval
System (ASRS)
o Conveyor & Sortation System
o Automated Guided Vehicle (AGV)
o Others (Smartphone, wireless
solutions, etc.)
• Software
• Services
o Testing
o Maintenance & Training
o Consulting & Installation
By Deployment
Segment
• On-Premise
• Cloud
By Function
Segment
• Analytics & Optimization
• Labor Management System
• Billing & Yard Management
• Consulting Services
• Systems Integration & Maintenance
By End-use
Industry Segment
• Transportation & Logistics
• Consumer Goods
• Chemicals
• Food & Beverage
• Manufacturing
• Electrical & Electronics
• Healthcare
• Retail
• Others (textile & clothing,
paper & printing, etc.)
By Geography
Segment Type
- North America (the U.S., Rest of North
America) - Europe (U.K., Germany, France, Rest of
Europe) - Asia Pacific (China, Japan, India, Rest
of Asia Pacific) - Rest of the World (the Middle East &
Africa, Latin America)
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