Warehouse Management System (WMS) Market Analysis
The global warehouse management system market is predicted to touch USD 2.45 billion at 14% CAGR during the forecast period (2016-2022). A warehouse management system or WMS put merely is a software application that enables organizations in controlling and administering warehouse operations from the moment materials or goods enter the warehouse till they move out. Various operations take place in the warehouse including inventory management, auditing and picking processes. Some of the key features that has increased the demand for WMS include efficient labor collection, optimized processes, improved customer service, fewer picking errors, reduced operational expenses, stock traceability and visibility, automatic replenishment, transparency and visibility, better demand planning, fewer returns and accurate inventory counts.
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There are abundant factors that is propelling the growth of the warehouse management system market. These factors as stated by the Market Research Future (MRFR) report include burgeoning demand for WMS in the healthcare and retail sector, emergence and rapid advancement of the e-commerce sector, development of omni channel fulfillment, rising demand for efficient forecasting models, increased use of on-cloud warehouse management solutions, globalization of the supply chain network and emerging multichannel distribution platforms. On the contrary, expensive implementation cost of WMS, scarcity of business savvy users, lack of standardization, constant requirement for software upgrades, lack of awareness amid small scale industries about WMS, security and data privacy concerns, and enterprise resource planning vendors that are offering similar capabilities in different products are factors that may hamper warehouse management system market growth over the assessment period.
Warehouse Management System (WMS) Market Key Players
Leading players profiled in the warehouse management system market include Made4net LLC (U.S.), Tecsys Inc. (Canada), HighJump Software (U.S.), LogFire Inc. (U.S.), Oracle Corporation (U.S.), Softeon Inc. (U.S.), SAP SE (Germany), JDA Software Group Inc. (U.S.), Manhattan Associates Inc. (U.S.), and Synergy Logistics Ltd (U.K.).
Warehouse Management System (WMS) Market Segmentation
MRFR report provides an extensive segmental analysis of the warehouse management system market on the basis of service type and application.
Based on service type, it is segmented into operations and maintenance, consulting system integration and software. Of these, software segment will have the largest share in the market over the assessment period.
Based on applications, the warehouse-management-system-market is segmented into electronics, retail, transportation and logistics, pharmaceutical and others. Of these, transportation and logistics will dominate the market over the assessment period owing to rising disposable income levels in emerging nations and rapid advancement of the e-commerce sector.
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By region, the warehouse management system market covers growth opportunities and latest trends across Rest of the World, Europe, North America and Asia Pacific. Of these, Europe will have ascendancy over others in the market over the assessment period. This is owing to advancement in the region’s warehouse management system coupled with growing awareness as well as deployment of warehouse management systems that is cloud-based. The warehouse management system market in North America will have the second major share. In the APAC region, the warehouse management system market is predicted to grow at the fastest pace. This region is the hub to emerging economies that are heavily populated which are experiencing tremendous growth in various sectors including e-commerce, pharmaceutical, retail and electronics where warehouse management systems are in great demand. Japan, China and India are the key contributors here.
May 2019- TouchPath, leading international supply chain solutions provider is all set to introduce the latest edition of their TouchWMS warehouse management system that includes multiple new features. The moment any warehouse worker logs into the system through a desktop, mobile terminal or handheld, it will automatically be provided with tasks instructions that are assigned to them. This system will help in tracking the activity of each team member in real time all through their shift and the KPI screen of the system will enable supervisors in spotting bottlenecks and reallocating resources across zones for optimizing shift performance. The new warehouse management system allows item storage types, location and warehouse zoning in being pre-defined, allows picking routes for being optimized and is RFID-enabled to speed order fulfilment of customers.
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