CHICAGO, April 29, 2024 /PRNewswire/ -- The warehouse management system market to grow from USD 4.0 billion in 2024 and is expected to reach USD 8.6 billion by 2029, growing at a CAGR of 16.3% from 2024 to 2029 according to a new report by MarketsandMarkets. The key factors contributing to the growth of the warehouse management system market include the thriving e-commerce industry, the increasing proliferation of businesses operating across multiple distribution channels. With businesses expanding their reach across various distribution channels such as e-commerce platforms, brick-and-mortar stores, wholesale channels, and more, the complexity of managing inventory, orders, and fulfillment processes increases significantly. However, WMS simplifies these complexities by providing a centralized platform to oversee and coordinate operations seamlessly across multiple channels.
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Browse in-depth TOC on "Warehouse Management System Market"
192 - Tables
69 - Figures
306 - Pages
Warehouse Management System Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 4.0 billion |
Estimated Value by 2029 | $ 8.6 billion |
Growth Rate | Poised to grow at a CAGR of 16.3% |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Offering, Tier, End User and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Necessity for consistent software updates and security |
Key Market Opportunities | Integration of video AI technology into WMS |
Key Market Drivers | Rising focus on streamlining supply chain operations to enhance customer experience |
The software segment to dominate the market during the forecast period.
The advancement in industrial automation has led to the integration of new technologies and features into Warehouse Management Systems (WMS). The need for advanced global supply chain networks drives this surge in software adoption. Factors such as increased awareness of WMS software among small and medium-sized enterprises (SMEs), the global expansion of supply chain networks, and the growing popularity of cloud-based WMS solutions are key drivers of this demand. Additionally, the rising need for sophisticated warehousing and logistics infrastructure is fueling the growth of WMS-related software.
Cloud-based segment to grow at the fastest CAGR during the forecast period.
The cloud-based warehouse management systems market is expected to grow at a higher CAGR during the forecast period. This growth is propelled by the expanding adoption of cloud services in manufacturing and logistics sectors, coupled with increased user trust in cloud providers. The advantages of cloud WMS software, such as quicker implementation, reduced initial installation and hardware expenses, and faster return on investment, are also significant drivers of market expansion for cloud warehouse management systems.
The e-commerce segment is projected to witness the highest CAGR during the forecast period.
The growing consumer preference for online shopping has bolstered the e-commerce sector worldwide. Factors such as the wide range of choices, convenience of finding all goods on a single platform, product tracking, timely delivery, and easy returns are key contributors to this industry's growth. Advanced WMS systems play a crucial role in efficiently managing stocks from warehouses to end consumers. The surge in online orders has prompted e-commerce giants like Amazon, Alibaba, and eBay to establish warehouses globally to meet customer demands, increasing demand for warehouse management systems.
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North America held the largest share of the warehouse management system market in 2023.
The US plays a crucial role in driving the growth of the warehouse management system industry within North America. Companies across the US are increasingly transitioning their operations to cloud-based systems, presenting a significant opportunity for the adoption of cloud WMS solutions. Several factors are propelling this market growth, including the expansion of the e-commerce sector, a well-established manufacturing ecosystem, and the presence of major players in industries such as automotive, pharmaceuticals, chemicals, and food & beverages. These industries are progressively shifting towards advanced WMS solutions over traditional legacy systems. Additionally, the 3PL industry stands as the primary contributor to the expansion of the WMS market in North America. Notable companies driving this market in North America are Manhattan Associates (US), Blue Yonder Group, Inc. (US), Oracle (US), IBM (US), Infor (US), PTC Inc. (US), and Tecsys Inc (Canada).
Manhattan Associates (US), Blue Yonder Group, Inc. (US), Körber AG (Germany), Oracle (US), SAP (Germany), Infor (US). Microsoft (US), Reply (Italy), PTC Inc. (US), IBM (US), Ehrhardt Partner Group (Germany), Mecalux, S.A. (Spain), Dematic (US), SSI SCHAEFER Group (Germany), Tecsys Inc. (Canada), Epicor Software Corporation (US), Extensiv (US), Datapel Systems (Australia), Generix Group (France), ecovium Holding GmbH (Germany), Made4net (US), Microlistics (Australia), Softeon (US), Synergy Logistics Ltd. (UK), and Vinculum Solutions Pvt. Ltd. (India) are the major players in warehouse management system companies. These players have implemented various strategies to extend their global reach and enhance their market shares.
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