Pune, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Analysis:
As per the SNS Insider Report, “The Warehouse Management System Market Size was valued at USD 3.50 Billion in 2023 and is expected to reach USD 13.53 Billion by 2032, growing at a CAGR of 16.23% over the forecast period 2024-2032.”
The warehouse management systems (WMS) market is growing at a rapid rate as companies look to increase operational efficiency, reduce costs, and improve inventory accuracy. In 2023 the U.S. e-commerce market had a significant delivery that totaled around 20% of overall retail sales which constitutes even more enhancement over recent years. Warehouse management systems have been strongly adopted due to the rise in online shopping. The increase in e-commerce revenue in the U.S. to around USD 1.06 trillion was driven by consumer desire for convenience, competitive pricing, and quicker delivery choices. Mobile commerce played a vital role, representing over 40% of total e-commerce transactions, demonstrating the increasing reliance on smartphones for online shopping. Instant access to inventory levels and order status. WMS solutions allow businesses to better manage their supply chains through real-time visibility of inventory levels and order status. By automating inventory management, organizations can reduce human errors and ensure stock levels remain optimal thereby driving a better allocation of resources and lower carrying costs.
The healthcare sector also relies on WMS solutions to increase effectiveness and maintain compliance with all regulations. Given the importance of maintaining accurate inventories in an industry where patient safety is paramount, WMS assists with tracking medical supplies and medications to prevent expiration or loss.
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Top Market Players Listed in this Research Report are:
- Epicor (Epicor ERP, Epicor Prophet 21)
- Korber AG (HighJump) (HighJump Warehouse Advantage, HighJump Transportation Management System)
- Infor (Infor CloudSuite Industrial (SyteLine), Infor WMS)
- Made4net (WarehouseExpert, TransportationExpert)
- Manhattan Associates (Manhattan Active® Warehouse Management, Manhattan Active® Transportation Management)
- Oracle (Oracle Fusion Cloud SCM, Oracle Warehouse Management Cloud)
- PSI Logistics (PSIwms, PSIglobal)
- Reply (LEA Reply™ WMS, Click Reply™)
- SAP (SAP Extended Warehouse Management (EWM), SAP Integrated Business Planning (IBP))
- Softeon (Softeon Warehouse Management System, Softeon Distributed Order Management (DOM))
- Synergy Ltd (SnapFulfil, Synergy Voice)
- Tecsys (Tecsys Elite™ WMS, Tecsys Streamline™)
- Blue Yonder Group (Luminate Platform, Demand Planning)
"Market Segments: Detailed Analysis Reveals Strategic Growth Pathways"
By Component: The services segment held 80% of the market share in 2023, offering robotic assisting hands and custom-made solutions to customers Services include activities such as consulting, implementation, training, and ongoing support which are necessary for delivering an end-to-end WMS solution. This piece helps organizations tweak their WMS to suit particular operational needs and assure smooth integration with current systems. Comprehensive arrange of service bundles from leading corporations such as Manhattan Associates including system integration and user training are reducing barriers to adopting automated warehouse operation.
By Deployment: The cloud segment dominated the market in 2023 with a 55% market share. Some of the benefits of cloud-based WMS solutions are scalability, lower IT costs, and better accessibility from any location with internet access. Enterprises gain the power of modern analytics, real-time data, and automatic updates without incurring any costs on expensive hardware.
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Key Market Segments:
BY COMPONENT
- Software
- Services
BY DEPLOYMENT
- Cloud
- On-Premises
BY APPLICATION
- Third-Party Logistics
- Food & Beverages
- Retail
- Chemicals
- Metals & Machinery
- Automotive
- Healthcare
- E-commerce
- Electricals & Electronics
- Others
"Regional Market Breakdown: Identifying Growth Hotspots and Emerging Trends"
Europe had the highest market share of 33% in 2023 and led the market, due to a well-established logistics and manufacturing industry within the region. Top economies, such as Germany, the United Kingdom, and France, are urged to incorporate advanced WMS solutions that would allow them to operate efficiently and inexpensively. Also, Europe's high reachability of the market is well-stated by the soaring need for automation & digitalization in the region which is expected to bolster supply chain management across this part.
Asia-Pacific is projected to grow with the fastest CAGR during the forecast period 2024-2032. Chemicalization, rising e-commerce, and an emerging distributorship operating in expanding market segments like China, India, and Japan see a major part of the warehouse automation and logistics industry progress significantly. In addition, new and young techs would have even more room to adapt and show innovations thanks to all of the advanced analytics and AI-driven solutions.
Recent Developments
- April 2024: SAP announced the launch of its new WMS platform, SAP EWM 3.0, which features enhanced AI capabilities for better inventory accuracy and forecasting.
- June 2024: Oracle introduced its Cloud Warehouse Management System, designed to provide businesses with real-time visibility into their inventory and shipping processes.
- August 2024: Manhattan Associates launched a new WMS application aimed at the retail sector, focusing on improving the order fulfillment process and reducing lead times.
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Future Trends for the Warehouse Management System Market:
The Warehouse Management System Market is poised for substantial growth, driven by technological advancements and the increasing need for efficient supply chain solutions across various industries.
| Trend | Description |
| Increased Adoption of AI | AI will play a crucial role in predictive analytics, demand forecasting, and inventory management, enhancing operational efficiency. |
| Integration with IoT | IoT devices will enable real-time tracking and monitoring of inventory, leading to improved accuracy and reduced losses. |
| Rise of Autonomous Vehicles | The use of autonomous vehicles for warehouse operations will streamline processes and reduce labor costs. |
| Focus on Sustainability | Companies will increasingly prioritize sustainable practices in warehouse operations, including energy-efficient technologies. |
| Blockchain for Transparency | Blockchain technology will enhance supply chain transparency, providing an immutable record of transactions and inventory movement. |
Table of Contents - Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Warehouse Management System Adoption Rate by Industry, 2023
5.2 Warehouse Management System Performance Benchmarks, 2023
5.3 Warehouse Management System Integration Capabilities, by Software
5.4 Usage Statistics, 2023
6. Competitive Landscape
7. Warehouse Management System Market Segmentation, by Component
8. Warehouse Management System Market Segmentation, by Deployment
9. Warehouse Management System Market Segmentation, by Application
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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