The global Warehouse Management System (WMS) market size is expected to grow from USD 2.8 billion in 2021 to USD 6.1 billion by 2026, at a CAGR of 16.7%.
Emerging economies are mainly contributing to the growth of the industry. New manufacturing units are now being set up in developing nations due to the ease of business norms and policies and cheap labor availability. Rising investments in these countries by global multinationals are also a key contributor to the growth of the WMS market.
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Software segment to hold the largest share of the warehouse management market in 2021
The software segment is expected to hold a larger market share from 2021 to 2026. Increasing awareness about WMS software among small and mid-sized enterprises (SMEs), the globalization of supply chain networks, and the growing share of cloud-based WMS software solutions are the key factors boosting the demand for WMS software. Further, the rising demand for highly sophisticated warehousing and logistics infrastructure is expected to drive the growth of the WMS market for software. For instance, in May 2020, Manhattan Associates announced a new Manhattan Active warehouse management solution, a cloud-based enterprise-level warehouse management system that combines every aspect of distribution and never needs upgrading. The Manhattan Active WMS is sold in multi-year cloud subscription options and can be operated through a mobile phone, tablet, or desktop. Companies innovating offerings and functionalities are enhancing user experience and improving operational efficiency, which is leading the growth of the WMS software market.
3PL industry to hold the largest share of the warehouse management system market during the forecast period
The 3PL industry is one of the primary drivers of the WMS market. Factors such as the growing need for efficient order management, increased outsourcing of logistics and transportation operations, and the globalization of supply chain networks has fueled the adoption of warehouse management systems in the 3PL industry. The trend of industrial automation has initiated most organizations to focus on the adoption of warehouse automation systems to achieve high operational efficiency and functional capabilities. The leading warehouse management system providers are focusing on the delivery of industry-specific customization in WMS that provides an end-to-end solution, allowing organizations to coordinate their procedures and inventory across their network.
The WMS market for the e-commerce industry is expected to grow at the highest CAGR from 2021 to 2026. Short delivery times, accurate order processing, advanced shipment tracking, and the increasing number of online shoppers are a few of the key factors boosting the adoption of warehouse management systems in this industry.
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The warehouse management system market in APAC is expected to grow at the highest CAGR from 2021 to 2026
APAC is the fastest-growing market for warehouse management systems. The growth of the market in this region can be attributed to the tremendous growth of the e-commerce and manufacturing industries in emerging economies such as China, India, and Indonesia. China is a key contributor to the growth of the WMS market in APAC owing to its huge industrial and manufacturing sector. India is one of the fastest-growing markets for WMS in APAC.
Major companies operating in this warehouse management system market include Manhattan Associates, Inc. (US), Blue Yonder Group, Inc. (US), HighJump (Körber) (US), Oracle Corporation (US), IBM (US), and SAP (Germany).
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