The global warehouse management system market is estimated to exhibit 14% CAGR over the forecast period to attain a valuation of USD 2.45 billion. It previously stood at USD 1.15 billion in 2015.
Warehouse management system (WMS) are a software application designed to support the day-to-day functions of warehouses. The construction of warehouses amid the boom of online shopping is likely to induce the need for such software. The global warehouse management system market report by Market Research Future (MRFR) which analyzes the structure of the warehouse as well as various trends affecting the market from 2017 to 2023 (forecast period).
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High demand for WMS software in healthcare and retail sectors is the primary driver of the market. The automated processes in warehouses as well as the use of pallet movers and other material handling equipment for moving boxes and attaining parcels is likely to bode well for the market demand in the coming years.
The establishment of warehouses by replacing steel or concrete godowns is predicted to impact the market growth. In addition, the expansion plans of consumer good majors and other industrial bigwigs for storage of goods is anticipated to push the demand for WMS software. The use of the software to propel sales numbers is touted to bode well for the market.
But the presence of enterprise resource planning software can restrict market growth.
Prominent names in the global warehouse management system market include JDA Software Group Inc., Manhattan Associates Inc., Oracle Corporation, Made4net LLC, Softeon Inc., Tecsys Inc., HighJump Software, LogFire Inc., Synergy Logistics Ltd, SAP SE, and others.
Milaha, one of the biggest logistics experts in Qatar, has decided to adopt the WMS software of Infor for digitizing its supply and value chain.
The global warehouse management system market is segmented by service type and application.
By service type, the market comprises operations & maintenance, system integration, consulting, and software. The software service is projected to accrue the highest revenue for the market due to shift towards automation as well as inclination of various industrial bigwigs for reducing operational expenses is likely to lead to adoption of WMS software.
By application, it is segmented into retail, pharmaceutical, electronics, transportation & logistics, and others. The transportation & logistics segment is expected to exhibit a strong growth rate due to the boom in the e-commerce sector. Establishment of fulfilment centers as well as commitment to customers are likely to spur the segment growth. Change in business models from single client to multi-client and multi-product model can positively impact the market.
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Europe, North America, Asia Pacific (APAC), and Rest-of-the-World (RoW) are major regions considered in the warehouse management system market report.
Europe is expected to dominate the global market followed by North America. Adoption of latest software combined with the shift to cloud-based models for storage and modification of information are likely to bode well for the region. Rise in number of online channels which are influencing consumer behavior coupled with the need for real-time software for processing of orders, picking, packaging, and shipment tracking can lead to its implementation across warehouses.
The APAC region is likely to exhibit a robust growth rate during the forecast period due to being home to developing economies. Furthermore, the presence of various industrial corporations as well as the establishment of warehouses close to production hubs for easier transportation of goods can drive the market demand exponentially. Immense growth of sectors such as consumer electronics, retail, pharmaceutical, and others in India, China, and Japan can facilitate the warehouse management system market.
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