Pune,India, June 21, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global Warehouse Management System Market Size was valued at USD 2.75 billion in 2022 and is projected to grow from USD 3.07 billion in 2023 to USD 7.30 billion by 2030, exhibiting a CAGR of 13.2% during the forecast period.
The rise is driven by the surging focus of industry players on providing industry-specific solutions. The market growth is further propelled by the ease of integration of supply chain and enterprise resource planning. This information is provided by Fortune Business Insights™ in its research report, titled Warehouse Management System Market, 2023-2030.
Key Industry Development-
Ship Hawk acquired warehouse management solution provider Acuity Global. The deal was aimed at delivering superior solutions for addressing the needs of expanding companies.
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Key Takeaways-
- Warehouse Management System Market is expected to flourish & reach USD 7.30 Billion in 2030
- There are a lot of backorders because e-commerce product demand fluctuates a lot.
- The e-commerce sector is driving more demand for WMS.
- The use of digitalization in the supply chain is likely to increase demand for warehouse management systems.
- Warehouse Management System Market Size in North America was USD 1.03 Billion 2022
Discover the Leading Players Featured in the Report-
“Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Infor Inc. (U.S.), SAP SE (Germany), Manhattan Associates, Inc. (U.S.), Korber AG (Germany), Fishbowl Inventory (U.S.), Tecsys Inc. (Canada), 3PL Central LLC (U.S.), Unicommerce eSolutions Pvt. Ltd. (India)”
Report Scope & Segmentation-
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 13.2% |
| 2030 Value Projection | USD 7.30 Billion |
| Base Year | 2022 |
| Warehouse Management System Market Size in 2022 | USD 2.75 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 140 |
| Segments covered | Deployment, Type, Industry, Regional |
Browse Complete Report Details- https://www.fortunebusinessinsights.com/industry-reports/warehouse-management-system-wms-market-101788
Drivers and Restraints-
Rapid Surge in e-Commerce to Propel Industry Expansion
The warehouse management system market growth is being propelled by the escalating product demand from e-commerce enterprises. This comes as e-commerce businesses require constant equipment and inventory tracking for substantial cargo movement and demand maintenance.
However, high costs are associated with the installation of warehouse management systems. These could hamper industry expansion to a considerable extent.
Leading Segments Covered in this Report-
By Deployment
- Cloud
- On-premise
By Type
- Standalone
- Enterprise Resource Planning Module
- Supply Chain Module
By Industry
- Retail
- Logistics
- Healthcare
- Manufacturing
- Food & Beverages
- Chemical
- Others (IT & Telecom and Furniture)
Regional Insights-
North America to Emerge Prominent owing to Surging Warehouse Tool Demand
The North America warehouse management system market share is slated to register considerable expansion over the forecast period. The surge is driven by the growing demand for warehouse tools in the region.
The Asia Pacific market is anticipated to depict substantial growth over the projected period. The rise is propelled by the increasing focus of manufacturers on the introduction of advanced systems.
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Competitive Landscape-
Pivotal Companies Ink Collaborations to Enhance Product Reach
Leading market participants are focused on adopting a range of strategic initiatives for strengthening their industry positions. These comprise merger agreements, acquisitions, and the rollout of new products. Other steps include partnerships, collaborations, and the development of advanced solutions.
FAQs
How big is the Warehouse Management System Market?
The Warehouse Management System Market size was USD 2.75 Billion in 2022. It is expected to reach USD 7.30 Billion by 2030.
How fast is the Warehouse Management System Market growing?
The Warehouse Management System Market will exhibit a CAGR of 13.2% during the forecast period, 2023-2030
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