Vancouver, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Current Market Scenario:
The global Warehouse Management System Market size reached USD 3.06 Billion in 2021 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Increasing application of warehouse management systems in the e-commerce industry is one of the major factors expected to drive market revenue growth.
Drivers:
Growing demand for warehouse management system software in the Third-Party Logistics (3PL) industries is driving revenue growth of the global market. 3PL industries provide comprehensive supply chain solutions in packaging, warehousing, transportation, and order fulfillment. The best practices, expertise, and technologies of 3PL industries can be integrated into existing business processes to solve complex logistics management challenges and make the company's supply chain more agile. Companies also prefer 3PL providers to expand their existing customer base, enter new markets, or create a positive customer experience.
Warehouse management system software is widely used by 3PL providers to improve stock visibility, and moreover, the software simultaneously allows for a virtual connection with the shipper, allowing for the provision of inventory and documents. Streamlining tracking capabilities through Stock Keeping Unit (SKU), batch, part, or serial numbers, the warehouse management system software provides 3PL providers with real-time data on goods in transit, thereby allowing them to provide customers with an accurate delivery report, which helps in building trust.
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Restraints:
Small and Medium-Sized Enterprises (SMEs) account for a significant portion of the global economy, although individually, SMEs do not have larger revenue shares. However, they collectively control a large portion of the market and are responsible for constant churning of the industry's finances. These enterprises collectively contribute significantly to a country's Gross Domestic Product (GDP) and employment.
SMEs are looking for new technologies to implement to improve their supply chain and warehousing operations and increase productivity. However, the high implementation cost of high-end on-premises warehouse management system solutions is limiting their adoption among SMEs. Constant hardware upgrades and maintenance costs of on-premises warehouse management systems act as a major disadvantage. Despite the benefits of increased efficiency and lower maintenance costs, implementing on-premises warehouse management system solutions entails significant upfront costs, such as costs of hardware and software setup, testing, employee training, and technology support. SMEs, in general, do not have large funds to invest in on-premises warehouse management system solutions, which is limiting market revenue growth.
Growth Projections:
The global warehouse management system market is expected to register a CAGR of 15.5% over the forecast period and revenue is expected to increase from USD 3.06 Billion in 2021 to USD 14.99 Billion in 2032. Significant investments by prominent market players is one of the major factors driving market revenue growth.
COVID-19 Impact Analysis:
Rapid growth of the e-commerce industry has increased demand for consumer goods and products, and to combat the negative effects of COVID-19, major logistics companies and warehouse facilities throughout the world has begun to adopt digital technologies, such as the Industrial Internet of Things (IIoT), in order to improve and optimize their operational efficiency. These technologies integrated into warehouse management systems have provided companies with useful insights and data, to establish a list of critical components, determine the origin of supply, and identify alternative sources. Furthermore, with the lifting of trade restrictions and lockdowns, the market is now registering a rapid revenue growth rate as a result of widespread use of automation systems across all business operations.
Current Trends and Innovations:
In today's world, the supply chain is a series of discrete and isolated phases or stages that range from marketing, product development, manufacturing, and distribution stages to end users and after-sales services. Digitization has spread across all supply chain operations as a result of technological advancements, as digitization of supply chain contributes to the creation of a fully integrated ecosystem that is fully transparent to all players involved, from suppliers of raw materials and components, to transporters of supplies and finished goods, and finally to customers.
Digitization of supply chain also has some additional benefits such as streamlined operations, and it saves a significant amount of time, as processes become automated and decision-making becomes more robust and improved, while errors can be easily identified and corrected. Collaboration and information exchange between vendors and enterprises are likely to become more transparent in digital systems, resulting in increased productivity. Digitization of the supply chain is also expected to reduce lead time and thus, increase profitability.
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Geographical Outlook:
Market in Asia-Pacific accounted for second-largest revenue share in 2021. Revenue growth of this regional market can be primarily attributed to increasing digitization of the supply chain industry. Furthermore, rapid growth of e-commerce and manufacturing industries in emerging economies, such as India and Indonesia, has increased regional demand significantly. China has contributed the most to Asia-Pacific market revenue, due to presence of a large number of manufacturing units in the country.
Scope of Research
| Report Details | Outcome |
| Market size in 2021 | USD 3.06 Billion |
| CAGR (2022–2032) | 15.5% |
| Revenue forecast to 2032 | USD 14.99 Billion |
| Base year for estimation | 2021 |
| Historical data | 2019–2020 |
| Forecast period | 2022–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2022 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Deployment, function, application, and region |
| Regional scope | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Manhattan Associates, Blue Yonder Group, Inc., Körber AG, Oracle, SAP, IBM, Infor, PSI Logistics, PTC, and Tecsys Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global warehouse management system market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, and developing, testing, and introducing more effective warehouse management system software. Some major players included in the global warehouse management system software market report are:
- Manhattan Associates
- Blue Yonder Group, Inc.
- Körber AG
- Oracle
- SAP
- IBM
- Infor
- PSI Logistics
- PTC
- Tecsys Inc.
Strategic Developments
- On February 16, 2022, Turvo, a leading provider of collaborative supply chain applications based in San Francisco, California, announced a strategic partnership with Port City Logistics, based in the U.S., to support the future success of one of the country's fastest-growing logistics providers. Furthermore, the collaboration will provide a collaborative network to shippers and carriers for a seamless customer experience, and to connect with more Non-Vessel-Operating Common Carriers (NVOCCs) to pre-empt drayage service quote requests, gain more visibility into inventory levels at the warehouse to track and share inventory costs with shipper clients, and ensure constant oversight and tracking of all trucks and documentation through an automated system.
- On February 7, 2022, SkuVault, a provider of cloud-based inventory management software, based in Louisville, U.S., announced a bundle of new features for Third-Party Logistics (3PL) providers to help them build transparency and profitable relationships with clients. Additionally, the key feature in the bundle is BusinessHub, a portal that provides 3PL providers with better visibility into billing and inventory quantities and locations, thereby boosting client satisfaction.
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Emergen Research has segmented the global warehouse management system market on the basis of deployment, function, application, and region:
- Deployment Outlook (Revenue, USD Billion; 2019-2032)
-
- On-Premise
- Cloud
- Function Outlook (Revenue, USD Billion; 2019-2032)
-
- Labor Management System
- Analytics & Optimization
- Billing & Yard Management
- Systems Integration & Maintenance
- Consulting Services
- Application Outlook (Revenue, USD Billion; 2019-2032)
-
- Transportation & Logistics
- Retail
- Healthcare
- Manufacturing
- Food & Beverage
- Others
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics and industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problem provide our clients with the ability to secure an edge over their respective competitors. For more information, visit
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