PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1473751
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1473751
The warehouse management system market to grow from USD 4.0 billion in 2024 and is expected to reach USD 8.6 billion by 2029, growing at a CAGR of 16.3% from 2024 to 2029. Factors such as rising focus on streamlining supply chain operations to enhance customer experience, and thriving e-commerce industry are likely to drive market growth during the forecast period. The e-commerce industry is expected to witness significant growth owing to the increasing number of online shoppers. A robust WMS empowers warehouses to meet customer expectations by reducing order processing times, minimizing errors, and providing visibility into order status and tracking information.
Scope of the Report | |
---|---|
Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Offering, Tier, End User and Region |
Regions covered | Asia Pacific, North America, Europe, Rest of the World |
"Cloud-based segment to grow at fastest CAGR during the forecast period."
Cloud-based WMS software upgrades are easy, as there is no need to visit various warehouse locations to upgrade the software. In this case, software providers control the delivery of the software using the cloud; hence, the software is automatically downloaded and updated on customers' servers. A few of the key benefits offered by cloud WMS are low-cost ownership, scalability, faster implementation, and lesser expense to maintain IT resources.
"Advanced (Tier 1) dominates the market during the forecast period."
In 2023, advanced (Tier 1) warehouse management systems dominated the market, primarily due to their ability to efficiently manage intricate warehouse and distribution networks, scalability, and rapid processing of vast amounts of data generated in warehousing and logistics operations. Moreover, they empower warehouse operators to enhance decision-making regarding inventory management, movement, and workforce productivity by offering comprehensive and readily available data. These factors are fueling the expansion of the advanced (Tier 1) warehouse management systems market.
"North America to dominate the warehouse management system market."
The warehouse management system market in North America is projected to witness significant growth during forecast period. This growth can be attributed to several factors including increasing adoption of cloud-based WMS solutions, the presence of major companies with extensive global warehousing and distribution networks, the flourishing e-commerce sector, and the well-established third-party logistics (3PL) infrastructure in the region.
Key players operating in North America include Manhattan Associates (US), Blue Yonder Group, Inc. (US), Oracle (US), IBM (US), Infor (US), PTC Inc. (US), and Tecsys Inc. (Canada).
Research Coverage
The report segments the warehouse management system market and forecasts its size, by value, based on Offering (Software, and Services); By Deployment (On-premises, and cloud-based); By Tier (Advanced [Tier 1], Intermediate [Tier 2], and Basic [Tier 3]); By End User (3PL, automotive, food & beverages, healthcare, chemicals, e-commerce, electricals & electronics, metals & machinery, and others); and Region (North America; Europe; Asia Pacific; and RoW). The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the warehouse management system market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Reason to Buy Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall warehouse management system market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.