Warehouse Management Systems Market
The demand for warehousing has increased due to the rising trend of online purchasing
PORTLAND, PORTLAND, OR, UNITED STATE, September 16, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Warehouse Management Systems Market to generate USD 10.6 Billion by 2030- Key Factors Behind Market’s Hyper Growth .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global warehouse management systems industry was estimated at $2.4 billion in 2020 and is expected to hit $10.6 billion by 2030, registering a CAGR of 16.3% from 2021 to 2030.
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Advancements in industrial-grade digital technology, growth of e-commerce, and growing demand for improved supply chain and customer relationship management drive the growth of the warehouse management system market. However, costly deployment of WMS solutions, lack of process standardization in distribution and insufficient knowledge of WMS among small-scale industries hinder the market growth. Moreover, suppliers’ need for obtaining greater efficiency and productivity offer lucrative opportunity for growth of the WMS market.
The global warehouse management system market is analyzed across various segments such as deployment model, component type, user type, industry vertical and region.
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Based on the deployment model, the on-premise segment grabbed the major share in 2020, garnering nearly three-fifths of the global warehouse management system industry, and is likely to lead the trail through 2030. However, the cloud-based segment is expected to grow at the fastest CAGR of 18.7% through the forecast period.
Based on component type, the software segment held the major share of more than three-fifths of the global market in 2020 and is likely to hold its lead status through the forecast period. However, the services segment is expected to exhibit the fastest CAGR of 18.7% in 2030.
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By region, North America held more than two-fifths of the market share in 2020 and is predicted to maintain its dominance through 2030. The Asia-Pacific region, on the other hand, would grow at the fastest CAGR of 20.7% through 2030.
The key market players analyzed in the report include HighJump Software Inc. (Korber), IBM Corporation, Infor Inc., Jda Software Group, Inc. (Blue Yonder Group, Inc.), Manhattan Associates, Inc., Oracle Corporation, PSI Logistic, SAP SE, Softeon, Inc., and Tecsys, Inc.
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COVID-19 Scenario-
• The COVID-19 outbreak created a significant turmoil in most industries globally. While few companies faced a reduction in business operations, others faced severe outcomes such as shutdown of businesses.
• However, the pandemic positively impacted the growth of the warehouse management system market as the implementation of measures such as lockdowns and social distancing led consumers to opt for online purchasing, thus raising the demand for warehousing and WMS technologies.
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