CHICAGO, April 29,
2024 /PRNewswire/ -- The warehouse management
system market to grow from USD 4.0
billion in 2024 and is expected to reach USD 8.6 billion by 2029, growing at a CAGR of
16.3% from 2024 to 2029 according to a new report by
MarketsandMarkets™. The key factors contributing to the growth
of the warehouse management system market include the thriving
e-commerce industry, the increasing proliferation of businesses
operating across multiple distribution channels. With businesses
expanding their reach across various distribution channels such as
e-commerce platforms, brick-and-mortar stores, wholesale channels,
and more, the complexity of managing inventory, orders, and
fulfillment processes increases significantly. However, WMS
simplifies these complexities by providing a centralized platform
to oversee and coordinate operations seamlessly across multiple
channels.
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Browse in-depth TOC on "Warehouse Management System
Market"
192 – Tables
69 – Figures
306 – Pages
Warehouse Management System Market Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 4.0 billion
|
Estimated Value by
2029
|
$ 8.6 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 16.3%
|
Market Size Available
for
|
2020–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Offering, Tier, End
User and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Necessity for
consistent software updates and security
|
Key Market
Opportunities
|
Integration of video AI
technology into WMS
|
Key Market
Drivers
|
Rising focus on
streamlining supply chain operations to enhance customer
experience
|
The software segment to dominate the market during the
forecast period.
The advancement in industrial automation has led to the
integration of new technologies and features into Warehouse
Management Systems (WMS). The need for advanced global supply chain
networks drives this surge in software adoption. Factors such as
increased awareness of WMS software among small and medium-sized
enterprises (SMEs), the global expansion of supply chain networks,
and the growing popularity of cloud-based WMS solutions are key
drivers of this demand. Additionally, the rising need for
sophisticated warehousing and logistics infrastructure is fueling
the growth of WMS-related software.
Cloud-based segment to grow at the fastest CAGR during the
forecast period.
The cloud-based warehouse management systems market is expected
to grow at a higher CAGR during the forecast period. This growth is
propelled by the expanding adoption of cloud services in
manufacturing and logistics sectors, coupled with increased user
trust in cloud providers. The advantages of cloud WMS software,
such as quicker implementation, reduced initial installation and
hardware expenses, and faster return on investment, are also
significant drivers of market expansion for cloud warehouse
management systems.
The e-commerce segment is projected to witness the highest
CAGR during the forecast period.
The growing consumer preference for online shopping has
bolstered the e-commerce sector worldwide. Factors such as the wide
range of choices, convenience of finding all goods on a single
platform, product tracking, timely delivery, and easy returns are
key contributors to this industry's growth. Advanced WMS systems
play a crucial role in efficiently managing stocks from warehouses
to end consumers. The surge in online orders has prompted
e-commerce giants like Amazon, Alibaba, and eBay to establish
warehouses globally to meet customer demands, increasing demand for
warehouse management systems.
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North America held the
largest share of the warehouse management system market in
2023.
The US plays a crucial role in driving the growth of the
warehouse management system industry within North America. Companies across the US are
increasingly transitioning their operations to cloud-based systems,
presenting a significant opportunity for the adoption of cloud WMS
solutions. Several factors are propelling this market growth,
including the expansion of the e-commerce sector, a
well-established manufacturing ecosystem, and the presence of major
players in industries such as automotive, pharmaceuticals,
chemicals, and food & beverages. These industries are
progressively shifting towards advanced WMS solutions over
traditional legacy systems. Additionally, the 3PL industry stands
as the primary contributor to the expansion of the WMS market in
North America. Notable companies
driving this market in North
America are Manhattan Associates (US), Blue Yonder Group,
Inc. (US), Oracle (US), IBM (US), Infor (US), PTC Inc. (US), and
Tecsys Inc (Canada).
Manhattan Associates (US), Blue Yonder Group, Inc. (US), Körber
AG (Germany), Oracle (US), SAP
(Germany), Infor (US). Microsoft
(US), Reply (Italy), PTC Inc.
(US), IBM (US), Ehrhardt Partner Group (Germany), Mecalux, S.A. (Spain), Dematic (US), SSI SCHAEFER Group
(Germany), Tecsys Inc.
(Canada), Epicor Software
Corporation (US), Extensiv (US), Datapel Systems (Australia), Generix Group (France), ecovium Holding GmbH (Germany), Made4net (US), Microlistics
(Australia), Softeon (US), Synergy
Logistics Ltd. (UK), and Vinculum Solutions Pvt. Ltd. (India) are the major players in warehouse
management system companies. These players have implemented various
strategies to extend their global reach and enhance their market
shares.
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