Monday, 16 January 2017
Warehouse Management System Market size is expected to reach USD $3,112 million by 2022, growing at a CAGR of 15.2% during the period 2016-2022.
Warehouse Management System Market Report, forecasts that the global market size is expected to garner $3,112 million by 2022, growing at a CAGR of 15.2% during the period 2016-2022. This can be attributed to the increase in inventory and workload of WMS in warehouse operations. Europe is expected to be the largest market during the forecast period.
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By component type, software held the highest marketsharein2015, and services is anticipated to show the highest growth rate. Among the various industry verticals, transportation & logistics is projected to dominate the market. However, pharmaceuticals industry is expected to have the fastest growth rate.
Asia-Pacific is estimated to grow fastest due to increase in the adoption of WMS services and extensive growth in Japan, China, Australia, and India.
Key findings of the Warehouse Management System Market:
Software is expected to exhibit a significant growth in the WMS market due to growth in adoption of this technology in the logistics industry.
Transportation & logistics industry generated the highest revenue among other industry verticals pertaining to increase in adoption of WMS.
Europe is projected to exhibit a substantial growth during the forecast period.
Several industry players adopt partnership and product launch as their key strategies to offer innovative products and services & solutions to attain a higher market share.
The dominant players include Oracle Corporation, SAP SE, Inform Inc., and Manhattan Associates Inc., and others.
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Increasing inventory and workload necessitated the implementation of a warehouse management system (WMS) in warehouse operations. WMS is a software application that is designed to support the management of warehouse, distribution center, and staffs. They are tactical tools deployed by the business owners to cater to the requirements of the distribution channel(s) and of the customers. It uses a database that is configured to manage the warehouse operations and contains detailed description of various standard warehouse elements, including individual stock keeping units (SKUs), warehouse storage locations, dock doors, and expected labor productivity rates by activity or function.
The growth of digital technology has increased the adoption of WMS in several applications. Growth of e-commerce & requirements of Omni-channel fulfillment, WMS add-on module sales, labor efficiency, cost ownership advantages, and supply chain platform integration are the factors that drive the market growth.
The WMS market is segmented based on components, industry vertical, and geography. Software and services are the component types of WMS. Automotive, electronics, food & beverage, transportation & logistics, pharmaceutical, and others are categorized under industry verticals. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa), followed by region-wise country-level analysis.
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