Warehouse Management System Market Share, Size, Trends [2021-2026]

The global warehouse management system 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% from 2021 to 2026.

Small and mid-sized enterprises (SMEs) account for a major share of the global economy. SMEs do not have higher revenues individually, butcollectively, they hold a major share of the market and are responsible for the constant churning of the finances within the industry.

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OPPORTUNITIES: Adoption of digital technologies in supply chain management

The supply chain in today’s time is a series of discrete and isolated phases/stages—ranging from marketing, product development, manufacturing, and distribution stages to end users and after-sales services. With the rise in technological advancements, digitization has spread across all operations of the supply chain. The digitization of the supply chain aids in building a completely integrated ecosystem, which is fully transparent to all the players involved—from suppliers of raw materials, components, and parts to transporters of the supplies and finished goods, and finally to the customers demanding fulfillment.

CHALLENGES: Insufficient knowledge of WMS among small-scale industries

Small-scale industries traditionally operate their warehouses with legacy systems. As the annual income of small-scale industries is not very high, investments to set up WMS seem to be an unnecessary expense for these business owners. Similarly, they have a small amount of workforce, among which finding a skilled worker to maintain WMS, may be a tedious and investing task.Owing to the reluctance to replace traditional systems and limited growth plans, business owners in small-scale industries fail to recognize the benefits they can avail of by using WMS. Further, significant investments associated with the deployment of WMS and high upfront costs restrain the adoption of WMS.