The Warehouse Management System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Warehouse Management System Global Market Report 2024, The warehouse management system market size has grown rapidly in recent years. It will grow from $3.07 billion in 2023 to $3.52 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to integration with ERP systems, demand for real-time visibility, scalability and flexibility needs, focus on lean management, compliance and regulatory requirements.
The warehouse management system market size is expected to see rapid growth in the next few years. It will grow to $5.97 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to cross-border trade complexity, mobile-first solutions, supply chain resilience, green warehousing initiatives, robotics and automation expansion. Major trends in the forecast period include supply chain visibility and collaboration, scalability and flexibility demands, sustainability and green warehousing, omni-channel retailing impact, AI and machine learning implementation.
The increase in demand from e-commerce companies for larger warehouses with better tracking and forecasting is expected to drive the warehouse management system market. The growing e-commerce industry requires continuous tracking of all the equipment and inventory forecasting to keep up with demand and maintain large cargo movement. For instance, a study from research firm Knight Frank reported that the annual warehousing transactions in India are expected to increase from 31.7 million square feet in 2021 to 76.2 million square feet in 2026. Therefore, increasing demand from e-commerce companies is expected to boost the market during the forecast period.
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The warehouse management system market covered in this report is segmented –
1) By Offering: Software, Services
2) By Deployment: On Premises, Cloud
3) By Function: Labor Management System, Analytics And Optimization, Billing And Yard Management, Systems Integration And Maintenance
4) By Application: Transportation And Logistics, Healthcare, Retail, Manufacturing, Food And Beverage, Other Applications
Major companies operating in the warehouse management system market are focusing on developing innovative technologies to deliver significant benefits in terms of efficiency, cost savings, employee satisfaction, and future-proofing their operations. The warehouse management system was developed, tested, and implemented across 10 North American warehouse sites in just eight months. The system has cloud capabilities that offer cost savings and can be updated every year, as opposed to the industry standard of every five to seven years. For instance, in May 2023, Mars Inc., a US-based food company, launched a new warehouse management system (WMS) to drive efficiency and save millions of dollars. It also features an optimized task interleaving process to streamline warehouse operations and improve productivity. The development of the WMS aligns with Mars' commitment to its five principles, including quality, responsibility, mutuality, efficiency, and freedom. The new system has been well-received by Mars' warehouse teams and has contributed to the company's overall efficiency and cost savings.
The warehouse management system market report table of contents includes:
1. Executive Summary
2. Warehouse Management System Market Characteristics
3. Warehouse Management System Market Trends And Strategies
4. Warehouse Management System Market - Macro Economic Scenario
5. Global Warehouse Management System Market Size and Growth
.....
32. Global Warehouse Management System Market Competitive Benchmarking
33. Global Warehouse Management System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Warehouse Management System Market
35. Warehouse Management System Market Future Outlook and Potential Analysis
36. Appendix
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A WMS is a software application that helps manage operations in warehouses in the most efficient and productive manner.
The rising use of WMS software is leading to an increasing need for services to ensure its smooth functioning.Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=41614951The market for on-cloud WMS is expected to grow at the highest rate during forecast period.
The growing adoption of cloud services in the manufacturing and logistics industries, along with increased reliability of users on cloud companies, is fueling the adoption of on-cloud WMS software.
The growth of basic (tier 3) warehouse management systems is driven by the increasing demand for basic warehouse management system solutions from small and midsized warehouse operators.
Short delivery times, accurate order processing, advanced shipment tracking, and increasing number of online shoppers are some of the key factors boosting the adoption of warehouse management systems in this industry.
The enforcement of social distancing, lockdown, and other measures in response to the COVID-19 pandemic has led consumers to engage in online shopping.
