New York, March 08, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Warehouse Management System Market Size, Share, Growth, Trends and Global Forecast to 2030 - COVID-19 Impact and Global Analysis By Component (Hardware, Software, and Services); Tier Type (Advance [Tier 1], Intermediate [Tier 2], and Basic [Tier 3]); Industry (Manufacturing, Automotive, Food and Beverage, Electrical and Electronics, Healthcare, Retail and E-commerce, and Others); and Geography”, the global warehouse management system market growth is fuelled by rising adoption of advanced technologies resulting in smarter warehouses, migration to cloud-based WMS and E-commerce industry growth.
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Global Warehouse Management System Market – Report Scope:
| Market Size Value in | USD 14.51 Billion in 2022 |
| Market Size Value by | USD 51.36 Billion by 2030 |
| Growth rate | CAGR of 17.3% from 2023 to 2030 |
| Forecast Period | 2023-2030 |
| Base Year | 2022 |
| No. of Pages | 208 |
| No. of Tables | 137 |
| No. of Charts & Figures | 91 |
| Historical data available | Yes |
| Segments covered | Component, Tier Type, Industry, and Geography |
Global Warehouse Management System Market Analysis: Competitive Landscape and Key Developments
International Business Machines Corp, SAP SE, Epicor Software Corp, Softeon Inc, Oracle Corp, Panasonic Holdings Corp, Infor Inc, Manhattan Associates Inc, PTC Inc, and Tecsys Inc. are among the key warehouse management system market players profiled in this market study. Several other essential warehouse management system market players were studied and analyzed to get a holistic view of the market size and its ecosystem.
In 2022, Manhattan Associates Inc. announced that leading British grocer, Asda, had chosen Manhattan Active Warehouse Management to help evolve its logistics network in the UK. The "Big Four" grocer looks to implement future-ready, cloud-based systems agile enough to respond to changing customer and market conditions.
In 2022 Manhattan Associates Inc. announced that leading British grocer, Asda, has chosen Manhattan Active Warehouse Management to help evolve its logistics network in the UK. The ‘Big Four’ grocer looks to implement future-ready, cloud-based systems agile enough to respond to changing customer and market conditions.
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Global Warehouse Management System Market – Regional Overview:
The warehouse management system market growth in APAC is attributed to the rise in the establishment of new warehouses in the region. The region is focused on strengthening its logistics infrastructure for better and more efficient workflow management. Due to a rise in preference for e-commerce, disruptions in the supply chain, and high customer demand, there is a shortage of space in the region. Hence, many companies in the region expanded their manufacturing facilities. For instance, in December 2022, 20Cube Logistics Pte. Ltd., a Singapore-based software solution provider, expanded its distribution center in Selangor D.E, Malaysia, with an extra 250,000 square feet of storage. This expansion helped the company to support offshore warehousing across the region. Thus, such initiatives by companies to increase their warehousing facility in APAC are fueling the demand for WMS, which is driving the warehouse management system market.
In recent times, many retailers across Asia Pacific have had to rethink their entire supply chains to keep up with the demand. Across India, Singapore, Hong Kong, Japan, and Australia, the logistics space has become increasingly hot property as retail and logistics firms secure the sites they need in order to keep up with growing delivery volumes and ensure their networks can best serve a diverse customer base. For instance, according to The Economics Times, India is expected to add 30 million square feet of space for building new warehouses, which is approximately one-third of the space expected to get added for APAC (86 million square feet). This demand for extra space for warehousing can be attributed to the growing manufacturing sector and e-commerce activities. Furthermore, e-commerce growth is on the cards across the region. According to International Trade Administration, the strong e-commerce market in China contributes to the growth of B2C and B2B purchasing activities of other countries such as Indonesia, Vietnam, the Philippines, and other South Asian countries. Thus, the growing e-commerce activities and sales will fuel the warehouse management system market growth.
In North America, the emergence of WMS that are capable of circumventing the order in/order out traffic will enhance the warehouse management system market landscape in North America. For instance, US-based Manhattan Associates has already embedded more refined planning logic in its systems in order to closely monitor its complex order environment. In addition, a B2C retail trend of increased use of drop-shipping for efficient, fast, and affordable order out to customers has driven changes on the warehouse management system front in North America. The majority of the e-commerce giants in the region have been striving to improve their inventory turnover ratio. In order to achieve the desired ratio, companies are adopting drop shipping as a part of their core process. The trend is projected to increase the demand for WMS, and therefore propelling the warehouse management system market.
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Impact of COVID-19 Pandemic on Warehouse Management System Market Growth:
The COVID-19 pandemic severely impacted multiple sectors of economies in Asia Pacific, as declining international trade flows and lower demand slashed operations in ports, transport hubs, and logistics facilities. The pandemic affected several countries in the region, such as India, South Korea, and Japan. The impact of COVID-19 significantly accelerated the demand for WMS offerings in 2020. The imposition of a ban on commercial activities disrupted the industrial supply chain from procurement of raw materials to supply of finished goods and experienced delays in the manufacturing processes. However, companies with substantial business and operational disruptions significantly started implementing WMS solutions for mitigating the effects of reduced supply and managing chaos in logistics. This, in turn, propelled operational activities, boosting the warehouse management system market growth in the region in 2020.
With the relaxation of lockdown measures and the start of the vaccination process, the shipments of raw materials started again, and manufacturing resumed. Governments gradually dissolved lockdown mandates in many countries, boosting the operations with complete flow across manufacturing units. Supply chain managers based in Asia Pacific are pursuing a mix of strategies, including diversification, localization, reshoring, and warehousing. The pandemic also resulted in a greater focus on digitizing supply chains and warehouse management. There is a growing investment in warehouse management software for several purposes, such as trade facilitation, supply and demand forecasting, and inventory management. All factors mentioned above would have a positive impact on warehouse management system market.
Global Warehouse Management System Market Study: Tier Type Overview
Based on tier type, the warehouse management system market is segmented into advance (Tier 1), intermediate (Tier 2), and basic (Tier 3). The tier 2 segment held the largest warehouse management system market share in 2022, whereas tier 1 is expected to grow at the highest CAGR during the forecast period. The largest and most complex fulfillment centers or warehouses benefit from advance (Tier 1) WMS solutions. Advance WMS programs are incorporated by wholesale distributors and warehouses that store and ship products from multiple companies. The intermediate (Tier 2) WMS program offers directed pick and put-away locations to allow the warehouses to optimize their space. This type of warehouse inventory software uses slotting optimization to evaluate information regarding location, item, quantity, order details, and quantity to inform where to stock the inventory. Due to their greater depth of functionality, intermediate (Tier 2) WMS programs are typically implemented by medium and large enterprises. In addition, this tier also supports picking, which comprises task interleaving.
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