Newark, April 18, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global warehouse management system market is expected to grow from USD 2.74 Billion in 2020 to USD 11.08 Billion by 2030, at a CAGR of 15% during the forecast period 2021-2030.
Warehouses are at the center of manufacturing and supply chain activities because they hold everything from raw materials to finished items. A warehouse management system (WMS) is designed to help ensure that goods and materials are moved through warehouses in the most efficient and cost-effective manner possible.
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A warehouse management system (WMS) is a software application that helps in the control and management of warehouse operations. WMS software guides inventory receiving and storage, optimises order picking and delivery, and recommends inventory replenishment. A warehouse management system can be used independently or as part of a larger Enterprise Resource Planning (ERP) system. WMS systems are specifically designed to meet the needs of a global supply chain, including distribution, manufacturing, asset-intensive, and service industries.
The rise in the e-commerce business due to the COVID-19 pandemic, globalisation of supply chain networks, emerging multichannel distribution channels, greater usage of cloud WMS solutions, and the rising requirement for efficient forecasting models are all factors contributing to the market's growth.
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Key players operating in the global warehouse management system market are Manhattan Associates, Inc., Blue Yonder Group, Inc., HighJump (Körber), Oracle Corporation, IBM and SAP among others. To enhance their market position in the global Warehouse Management System market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
• Blujay Solutions Ltd. acquired Expedient Software, a customs software solution supplier in the logistics sector, mainly in New Zealand and Australia, on March 3, 2020. In Asia Pacific, the acquisition helped the company in expanding its functional and regional capabilities.
• JDA Software released JDA Luminate in May 2018. JDA Luminate is designed on an open, connected, and cognitive platform that leverages digital edge technology including SaaS, AI, and advanced analytics.
• Epicor Software acquired Majure Data, a warehouse management solution company, on July 3, 2019. The company assisted the corporation in expanding its portfolio in the market for lumber and building materials.
The services segment is expected to grow at a faster rate over the forecast period.
The component segment is divided into services and software. During the forecast period, services are expected to grow at a faster rate. The primary factors linked to the segment's growth include a significant increase in third-party inventory management services because of enterprises' insufficient warehouse capacity. Furthermore, these services strive to circulate demand from a variety of small and medium-sized businesses.
The cloud segment is expected to grow at the fastest CAGR during the forecast period.
The deployment segment is divided into cloud and on-premise. The cloud segment is expected to grow at the fastest CAGR during the forecast period. In comparison to cloud-based technologies, the upfront expenditures and ownership of operating an on-premise server are extremely high. Furthermore, as compared to cloud-based solutions, on-premise solutions have a complex and time-consuming deployment process.
The systems integration & maintenance segment dominated the market, accounting for around 30% of global revenue with a market value of around 0.82 billion.
The function segment is divided into analytics & optimization, labor management system, billing & yard management, consulting services, systems integration & maintenance. In 2020, the systems integration & maintenance segment dominated the market, accounting for around 30% of global revenue with a market value of around 0.82 billion. WMS performs functions such as inventory receiving and holding, order picking and delivery optimization, and inventory replenishment guidance.
The manufacturing segment had the highest revenue share of almost 26% in 2020.
The application segment is divided into retail, manufacturing, healthcare, food & beverage, transportation & logistics others. In 2020, the manufacturing segment had the highest revenue share of almost 26%. Initially, industrial organisations integrated their ERP and WMS systems. To achieve full control of the supply chain, they are also integrating their logistics and transport management systems. In addition, cloud-based technology is improving supply chain management efficiency and performance in the manufacturing sector.
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Regional Segment Analysis of the Warehouse Management System Market
• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period. The rapid rise in the e-commerce, manufacturing, and retail sectors, particularly in developing countries like India, China, and Indonesia, is attributed with the region's expansion. In the retail and e-commerce industries, China is a big revenue generator. Furthermore, the country has a large manufacturing industry, as well as a growing preference for domestic manufacture. As a result of the aforementioned factors, the warehouse management systems trend in Asia Pacific is rapidly growing.
About the report:
The global Warehouse Management System market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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