PUBLISHER: Ken Research Private Limited | PRODUCT CODE: 1257303
PUBLISHER: Ken Research Private Limited | PRODUCT CODE: 1257303
The report provides a comprehensive analysis of the potential of the Warehousing Management System Industry globally. The report covers an overview and genesis of the industry, and market size in terms of revenue generated.
Its market segmentations include By Component, By Deployment, By Application, and By Function; growth enablers and drivers; challenges and bottlenecks; trends and developments; regulatory framework; porter's five forces, industry analysis, competitive landscape including company profile and market shares of global players. The report concludes with future market projections of each market segmentation and analyst recommendations.
According to Ken Research estimates, the Global WMS Market expanded at a CAGR of 13.0% between 2017 and 2022 on the basis of revenue generated. The market saw a rapid increase in integration between automated & manual processes, expansion of E-commerce, and omnichannel fulfillment, mitigation of distribution costs, and transition towards Cloud-based Systems. The Global WMS Market is estimated to grow at a positive CAGR of 15.2% between 2022 and 2028.
The cloud segment holds the highest revenue share in 2022, emerging as the fastest-growing segment, owing to the Cloud-based technology that has been revolutionizing the way business functions.
In developing economies such as India, Europe, Africa and more, introduction of GST has enabled companies to focus on building larger warehouses.
The healthcare segment is anticipated to emerge as a prominent adopter of WMS, as providers are building facilities taking into consideration the pre-requisites of the healthcare sector.
The Global WMS Market is projected to show significant growth in the coming years. It is expected to be driven by rising trend of e-commerce, expansion of warehouses coupled with technological advancements and favourable government policies. America being the second largest for e-commerce in the world have enabled the customers to create an immediate and real-time demand impact on the order fulfilment operations driving the demand for highly adaptive and scalable WMS. Moreover, Cloud adoption is helping businesses in the Middle East and Africa to cut overall operational costs, boost profitability and seamlessly address COVID-19-induced market disruptions. These reasons are further driving demand for WMS.
The warehouse of the future will take advantage of automated capacity management by leveraging technology for better, data-driven capacity planning. There by, system integration and maintenance will be demanded even by small and medium warehousing businesses where this segment is anticipated to grow in near future.
Additionally, the emergence of global technologies such as AI is transforming most organizations, including warehousing. Sustainable supply chains and their partners using the latest technologies will be key drivers for future growth.