ALBANY, New York, March 4, 2020 /PRNewswire/ -- Transparency Market Research has been following the developments happening across the global warehouse management systems market. The market report tries to shed light on the different factors that are influencing the market growth. According to the research report, the market will reach a valuation worth US$6.18 bn by the end of 2027. To reach the mentioned valuation, the market is expected to exhibit a massive CAGR of 14.4% for the given period of forecast ranging from 2019 to 2027. Initially, in 2019, the market valuation was around US$2.11 Bn.
Key Findings in the Research Report
The global market for warehouse management systems can be broadly segmented in terms of component, application, and region.
Based on component, the market is divided into services and software. The services segment is further segmented into operations & maintenance, system integration, and consulting. Among these sub-segments, the operations & maintenance segment accounted for the majority of the market share and projected to exhibit a promising CAGR over the course of the given forecast period.
In terms of software, the global warehouse management system market is sub-segmented into cloud based and on premise WMS. Each of these sub-segments are further divided into yard management, 3PL billing, analytics and optimization, and labor management system. In the year 2019, the on-premise warehouse management systems segment in North America accounted for the largest share in overall market. The segment covered nearly 72.7% of the overall revenues share of the global warehouse management software market.
However, in the coming years of the forecast period, the segment of cloud-based warehouse management systems is expected to show a highly promising rate of growth. The growth of the segment is primarily attributed to the developments in the cloud technology and the cost effectiveness it provides in comparison to the on-premise warehouse management software.
Based on application, the global warehouse management systems market is segmented into third party logistics, pharmaceutical, food and beverage, electronics, retail, and others (home improvement and book & publishing). In 2019, the segment of third party logistics (3PL) accounted for the largest share in the global warehouse management systems market.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Warehouse Management Systems Market (Component: Software, Services; Software: On-premise and Cloud; On-premise: Labor Management Systems, Analytics and Optimization, and Others; Cloud: Labor Management Systems, Analytics and Optimization, and Others; Services: Consulting, System Integration, and Operations and Maintenance; Application: Retail, Electronics, Food and Beverage, Pharmaceutical, 3PL, and others.
Global Warehouse Management Systems Market – Key Driving Factors:
There are several macro as well microeconomic factors that are shaping up the development of the global warehouse management systems market. Some of the key driving factors are mentioned below:
One of the primary growth drivers for the global warehouse management systems market is the increasing awareness about the benefits the system offers. By using warehouse management systems, enterprises can optimize, monitor, and regulate complex distribution and warehouse related activities such as inventory management labor management, order management, dock scheduling, and yard management among others.
Another important driving factor for the development of the global warehouse management system market is the flourishing of the e-commerce industry. With growing trend of shopping online, the enterprises providing services to thee consumers are adopting advanced warehouse management systems in order to cater to their evolving needs.
In addition to this, increasing adoption of these warehouse management systems across multiple applications sectors such as retail, healthcare, and manufacturing among others has also helped in the overall development of the global market.
Global Warehouse Management Systems Market – Geographical Outlook
In terms of regional segmentation, the global warehouse management systems market is divided into five key regions. These regions are North America, Latin America, Middle East and Africa, Asia Pacific, and Europe.
Of these, the regional segment of Europe is the biggest regional market in terms of global point of view.
However, over the course of the given period of forecast ranging from 2019 to 2027, the Asia Pacific segment is projected to witness a highly promising rate of growth. Nations such as Indonesia, India, Japan, Australia, and China are among the key contributors for the development of the Asia Pacific region. Due to the rapidly changing economic dynamics in these countries, they are projected to offer highly lucrative growth opportunities.
Moreover, increasing demand for extended warehouse management systems to support cloud integration, order management, and in-store inventory is expected to act as a key driving factor for the development of the regional market.
Analyze Warehouse Management Systems market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Warehouse Management Systems Market – Key Market Players
Some of the important players operating in the global warehouse management systems market are Synergy Logistics Ltd., Softeon Inc., SAP SE, Reply, Oracle Corporation, Manhattan Associates Inc., Made4net LLC, LogFire Inc., JDA Software Group Inc., Infor Inc., Tecsys Inc., and HighJump Software among others.
Warehouse Robotics Market - Warehouse robotics are increasingly being used in warehouses of different industry verticals including food & beverages, e-commerce, automotive, retail, and pharmaceutical. The global warehouse robotics market is projected to expand at a CAGR of 12.0% during the forecast period and reach value of US$ 9,579.3 Mn by 2027.
Warehouse Automated Sorting Systems Market - Warehouse automation involves robots specially designed and programmed for accomplishment of various material handling tasks. These robots are changing the warehousing industry by modernizing and performing labor intensive tasks.
Warehouse Automation Solutions Market - The major key drivers pacing up the global warehouse automation solutions market are their ability to simplify and reduce time consumption in various functions, while boosting reliability, accuracy, engaging low work force, and consequently ensuring cost reduction while augmenting productivity.
Process Safety Services Market - The global process safety services market was valued at US$ 18,337.7 Mn in 2018 and is expected to expand at a CAGR of 4.9% during the forecast period.
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