The warehouse
management system market is estimated to reach USD 4.8 billion by 2024 from
USD 2.1 billion in 2018, at a CAGR of 15.2% between 2018 and 2024.
Browse 38
market data tables and 60 figures spread through 183 pages and in-depth TOC on “Warehouse
Management System Market by
Offering (Software, Services), Deployment (On-Premise, On-Cloud), Tier Type
(Advanced, Intermediate, Basic), Industry (3PL, Automotive, Food &
Beverages, E-Commerce), and Region - Global Forecast to 2024”
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Warehouse management system is a software solution primarily
used by warehouse operators for efficient control over various warehousing
operations, including inventory management, labor management, crossdocking,
picking and placing, packaging, shipping, yard management, and dock management.
A WMS can be deployed on-premise or on-cloud in different industries, such as
third-party logistics (3PL), ecommerce, automotive, electrical and electronics,
food & beverages, and pharmaceuticals. The growth of the market is
propelled by growth in e-commerce industry, emergence of multichannel
distribution, globalization of supply chain networks, increasing adoption of
on-cloud WMS solutions, and need for efficient forecasting models.
Based on deployment type, On-cloud expected to grow at a
higher CAGR in the warehouse management system market between 2018 and 2024
On-cloud WMS software solutions are deployed or implemented
using the Internet, and the unlimited computing power provided by server
systems is maintained by cloud service providers. The on-cloud WMS software can
be used at multiple locations, by many users, for processing large numbers of
transactions simultaneously. This software is delivered either as a
“one-size-fits-all” product or a uniquely configured solution accessible only
by a particular customer. The customer pays a monthly or annual fee for
subscription to software license, support, updates, and supplier’s
infrastructure. The growing adoption of cloud services in the manufacturing and
logistics industries, along with increased reliability of users on cloud
companies, is fueling the adoption of on-cloud WMS software. Benefits, such as
faster implementation, lower upfront installation and hardware costs, and
faster return on investment are also some of the major factors driving the
growth of the on-cloud WMS market. It is expected that ~80% of the new
warehouses will use on-cloud warehouse management systems in the next 5 years.
Based on offering, Services expected to grow at a higher
CAGR in the warehouse management system market
A warehouse management system is sold as a complete package,
including service contract, along with the software. Implementation of a WMS
software alone does not meet the needs of a warehouse operator as it requires a
number of services to ensure smooth functioning of the software. WMS vendors
sign high value contracts with their customers to provide after-sales services.
These services play a major role as they keep the systems optimized and ensure
lesser production cycle time. The services offered by most WMS vendors include
consulting and installation, testing, maintenance, training, and software
upgrades. Need for increased efficiency, constant upgrades to ensure data
security, and improved operations of WMS software are the major factors
boosting the demand for WMS services.
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Based on tier type, Basic (Tier 3) WMS expected to grow at a
higher CAGR in the warehouse management system market
Basic (tier 3) WMSs cover only necessary functions and
features required for warehouse operations. Basic WMSs offer lesser features
than advanced and intermediate WMSs. However, these WMS solutions cost lesser
than the other two WMS types, and require 2 to 3 months for implementation.
Basic WMSs are ideal for applications in small-scale businesses, which cannot afford
high initial investments in WMS. The growth of this market is driven by the
increasing demand for basic WMS solutions from small and midsized warehouse
operators. Further, basic WMS solutions offer higher flexibility and lower
subscription cost, and can be customized as per the requirements of warehouse
operators.
Food & beverages industry expected to grow at the
highest CAGR between 2018 and 2024 in the warehouse management system market
The food & beverages industry is transforming at a rapid
rate owing to changing customer preferences, increasing need for food safety,
growing trend of processed food and packaged eatables, and rising number of
online retailing companies. The food & beverages industry is constantly
under pressure of meeting customers’ demands in time and keeping in check the
perishability of food items before these reach customers. Factors such as need
for automated and hygienic handling of food items, enhanced traceability of
food items, increased sales of packaged food products, and rising trend of
online shopping of grocery are encouraging food & beverages companies to
implement WMS solutions in their warehousing facilities.
APAC expected to be the fastest-growing market for warehouse
management system during the forecast period
APAC is expected to be the fastest-growing market for
warehouse management systems between 2018 and 2024. 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. China is the key
contributor to the growth of the WMS market in APAC owing to its huge
industrial and manufacturing sector and increasing emphasis on domestic
production. Further, foreign investments have also made a positive impact on
China’s warehousing and logistics ecosystem. India is the fastest-growing
market for WMS in APAC. The launch of “Make in India” initiative has supported
the growth of the manufacturing and warehousing sectors in India. Japan is a
developed country and is witnessing a slow but steady growth in the WMS market.
Major players involved in the warehouse management system
market include Epicor Software (US), JDA Software (US), Manhattan Associates
(US), Oracle (US), SAP (Germany), IBM (US), Infor (US), PSI (Germany), PTC
(US), Tecsys (Canada), Blujay Solutions (UK), HighJump (US).
StudyCoverage
This research report categorizes the warehouse management
system market on the basis of offering, deployment, tier type, industry, and
region. This report describes the drivers, restraints, opportunities, and
challenges for the growth of the warehouse management system market. The value
chain analysis and competitive landscape for the market leaders has been
included in the report.
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Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
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