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Subject: MRR

Global Warehouse Management Systems Market Report 2022: Development of Digital Technology in Global Logistics Bolsters 15% Annual Growth


DUBLIN, May 30, 2023 /PRNewswire/ -- The "Global Warehouse Management Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 By Deployment Type, Component Type, Tier Type, Function Outlook, End-user, and Region" report has been added to  ResearchAndMarkets.com's offering.

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The Global Warehouse Management Systems Market is expected to record a positive CAGR of ~15% during the forecast period (2022-2028) and reach a revenue of US$ 7 Bn by 2028.

This growth is owing to the development of digital technology in global logistics, including delivery of key performance indicators (KPIs), enhanced supply chain flexibility, and cost-cutting, which have pushed Third-Party Logistics (3PL) and the supply chain sector to adopt warehouse management systems along with the rising e-commerce and customer online purchasing behaviors are anticipated to enhance demand for the warehouse management system.

WMS demand is expected to increase significantly as a result of switching supply chain strategies used by product manufacturers and rising consumer demand, especially in the transport & logistics, and retail industries. One of the key factors driving the market expansion is the requirement for manufacturers to automate warehouse management procedures and reduce costs globally. The system's capacity to deliver goods as quickly as possible via the shortest shipping routes could be the cause of the system's skyrocketing demand.

Real-time WMS software solutions are rapidly being utilized as a result of a significant shift in consumer purchasing behavior for effective order processing, picking, packaging, shipment tracking, and route planning in the e-commerce industry. WMS enables businesses to swiftly adjust to the shifting client needs in the e-commerce and online retail space.

According to International Trade Administration, an agency in the United States Department of Commerce in 2020 states that of the two consumer focuses, retail consumer goods e-commerce is by far the most dynamic and successful. In 2020, it accounted for 18% of all retail sales worldwide. By 2024, it is anticipated to rise at a rate of over 1% annually, reaching almost 22% of all retail sales worldwide.

Small-scale companies frequently utilize old techniques to run their warehouses. The adoption of WMS is hindered by large initial investments and significant deployment investments. The adoption of WMS by small-scale enterprises is additionally constrained by the additional expenses associated with license purchases, upgrades, and employee training during the deployment process. Small-scale industries, however, are not aware of the advantages of WMS, which presents a problem for the market's players.

Despite the initial turmoil caused by the COVID-19 pandemic, steady market expansion was made possible by the booming e-commerce sector and a more useful understanding of the benefits of WMS. Additionally, the crisis has quickened the industry's adoption of WMS as well as other warehouse automation solutions.

Scope of the Report

The Global Warehouse Management Systems Market is segmented by Deployment Type, Component Type, Tier Type, Function Outlook, and End-user. In addition, the report also covers market size and forecasts for the four regions. The revenue used to size and forecast the market for each segment is USD Billion.

By Deployment Type

By Component Type

By Tier Type

By Function Outlook

By End User

By Geography

Key Companies

Key Trends by Market Segment

By Deployment Type- Cloud-based segment held the major market share in 2021 due to its 100% web-based feature and accessibility from any device with an internet connection.

By Component Type- The software segment accounted for the highest market share in 2021, mostly due to the growing use of WMS software by small to medium-sized enterprises (SMEs) globally.

By Tier Type- Advanced WMS (Tier 1) held the major market share in 2021 owing to the maximum level of interconnectivity and functionality of advanced wms.

By Function Outlook- Systems Integration & Maintenance segment held the major market share in 2021, due to various functions that WMS performs such as receiving and storing inventory, optimizing order selection and shipping, and making recommendations on inventory replenishment.

By End-User- The transportation and Logistics segment held the major market share in 2021, due to the expansion of e-commerce sector, rising income levels, and the quick adoption of WMS.

By Geography- Asia Pacific is expected to be the fastest growing market during the forecast period due to the robust economic growth and ongoing advancements in inventory management and warehouse management systems, businesses are investing extensively in these systems to maintain growth and boost productivity.

Conclusion

The market for warehouse management systems is anticipated to continue growing at a substantial rate of ~15% owing to the recent developments in global logistics, including delivery KPIs, enhanced supply chain flexibility, and cost-cutting, which have pushed 3PL and the supply chain sector to adopt warehouse management systems. The warehouse management system market is expanding due to rising e-commerce and customer online purchasing behaviors. Foreign investments in developing economies are being fuelled by several factors, including favorable trade conditions, progressive government policies, and lower company taxes. Consequently, one of the main areas for WMS market growth is in emerging nations. Though the market is highly competitive with ~ 500 participants, few global players control the dominant share and regional players also hold a significant share.

Major Companies Mentioned in the Report

Notable Emerging Companies Mentioned in the Report

Frequently Asked Questions

What is the Study Period of this Market Report?

What is the Future Growth Rate of the Warehouse management systems Market?

What are the Key Factors Driving the Warehouse management systems Market?

Which is the Largest Deployment Segment within the Warehouse management systems Market?

For more information about this report visit https://www.researchandmarkets.com/r/axdf3c

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