The report provides a comprehensive analysis of the potential of the Warehousing Management System Industry globally. The report covers an overview and genesis of the industry, and market size in terms of revenue generated.
Its market segmentations include By Component, By Deployment, By Application, and By Function; growth enablers and drivers; challenges and bottlenecks; trends and developments; regulatory framework; porter's five forces, industry analysis, competitive landscape including company profile and market shares of global players. The report concludes with future market projections of each market segmentation and analyst recommendations.
Market Overview:
According to Report Ocean estimates, the Global WMS Market expanded at a CAGR of $% between 2017 and 2022 on the basis of revenue generated. The market saw a rapid increase in integration between automated & manual processes, expansion of E-commerce, and omnichannel fulfillment, mitigation of distribution costs, and transition towards Cloud-based Systems. The Global WMS Market is estimated to grow at a positive CAGR of $% between 2022 and 2028.
The cloud segment holds the highest revenue share in 2022, emerging as the fastest-growing segment, owing to the Cloud-based technology that has been revolutionizing the way business functions.
In developing economies such as India, Europe, Africa and more, introduction of GST has enabled companies to focus on building larger warehouses.
The healthcare segment is anticipated to emerge as a prominent adopter of WMS, as providers are building facilities taking into consideration the pre-requisites of the healthcare sector.
Key Trends by Market Segments:
By Component: The services segment includes consulting, system integration, operation, and maintenance services. Warehouse management can be provided as a service by third-party vendors, which is outsourced by WMS providers. Moreover, growth can be attributed to the increasing adoption of WMS software worldwide. Vendors sell their products by either offering them as a service, which helps the clients to focus on their core business operations, or by selling the software to the client without the service.
By Deployment: Over the years, cloud deployment has become as secure as the on-premise system on account of data sovereignty and the successful curbing of data thefts. Companies are now customizing and providing a WMS service based on the client's requirements. The on-premise deployment has been prominent since the advent of WMS and is characterized by huge servers and high maintenance costs, ultimately increasing the company's expenditures. These upfront costs and ownership of maintaining the on-premise server are incredibly high compared to the cloud-based technology.
Competitive Landscape
Future Outlook
The Global WMS Market is projected to show significant growth in the coming years. It is expected to be driven by rising trend of e-commerce, expansion of warehouses coupled with technological advancements and favourable government policies. America being the second largest for e-commerce in the world have enabled the customers to create an immediate and real-time demand impact on the order fulfilment operations driving the demand for highly adaptive and scalable WMS. Moreover, Cloud adoption is helping businesses in the Middle East and Africa to cut overall operational costs, boost profitability and seamlessly address Covid-19-induced market disruptions. These reasons are further driving demand for WMS.
The warehouse of the future will take advantage of automated capacity management by leveraging technology for better, data-driven capacity planning. There by, system integration and maintenance will be demanded even by small and medium warehousing businesses where this segment is anticipated to grow in near future.
Additionally, the emergence of global technologies such as AI is transforming most organizations, including warehousing. Sustainable supply chains and their partners using the latest technologies will be key drivers for future growth.
