LONDON, March 31, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the warehouse management system market, increasing demand from e-commerce companies for larger warehouses with better tracking and forecasting is expected to drive the warehouse management system market. The growing e-commerce industry requires continuous tracking of all the equipment and inventory forecasting to keep up with demand and maintain large cargo movement. For instance, a study from research firm Knight Frank reported that the annual warehousing transactions in India are expected to increase from 31.7 million square feet in 2021 to 76.2 million square feet in 2026. Therefore, increasing demand from e-commerce companies is expected to boost the market during the forecast period.
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The global warehouse management system market size is expected to grow from $2.39 billion in 2021 to $2.74 billion in 2022 at a compound annual growth rate (CAGR) of 14.77%. The growth in the market is mainly due to the companies' rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global warehouse management system market share is expected to reach $4.83 billion in 2026 at a CAGR of 15.15%.
Technological advancement is a key trend gaining popularity in the warehouse management system market. Technological advancement is the discovery of knowledge that advances technology. For instance, in May 2020, a US-based provider of technology solutions for distribution centers launched the Manhattan Active Warehouse Management solution, which marks the world’s first cloud-native enterprise-class warehouse management system (WMS). The new warehouse management system unifies every aspect of distribution and contains unified control, which allows management team members to quickly visualize, diagnose, and take action anywhere in their supply chain.
Major players in the warehouse management system market are Manhattan Associates, Oracle Corp., Infor, PTC, SAP SE, PSI Logistics GmbH, IBM Corp., Tecsys, Blue Yonder, Honeywell International Inc., Technology Solutions (UK) Ltd, HighJump Software, Synergy Ltd, Made4net, and JDA Software Group Inc.
The global warehouse management system industry growth analysis is segmented by offering into software, services; by deployment into on premises, cloud; by function into labor management system, analytics and optimization, billing and yard management, systems integration and maintenance; by application into transportation and logistics, healthcare, retail, manufacturing, food and beverage, others.
North America was the largest region in the warehouse management system market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global warehouse management system market during the forecast period. The regions covered in the global warehouse management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Warehouse Management System Global Market Report 2022 –Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide warehouse management system market overviews, warehouse management system market analyze and forecast market size and growth for the whole market, warehouse management system market segments and geographies, warehouse management system market trends, warehouse management system market drivers, warehouse management system market restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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