Warehouse Management Systems Market
Global Market Study on Warehouse Management Systems: Rising Adoption of Machine-to-Machine (M2M) Technology to Improve Warehouse Management Functions
Machine-to-Machine technology adoption is increasing in warehouse management, as it helps machines or devices exchange information and perform functions on their own. A warehouse management system with M2M technology can connect and receive data from instruments such as conveyors, picking equipment, and assembly lines.
Warehouse management systems with M2M technology help monitor stages of production and control series of events. As M2M technology checks the functioning of machines in a warehouse, it helps maintain quality. M2M collects and exchanges information, and also provides actionable insights for better decision-making.
Accuracy in information facilitates demand forecasting, helping warehouse managers predict the appropriate delivery time of the product. All these factors are expected to boost the growth of the warehouse management systems market size through 2030.
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Competition Deep Dive (Hardware Vendors)
- Zebra Technologies
- Honeywell International Inc.
- Clearpath Robotics Inc.
- The Raymond Corporation
- Technology Solutions (UK) Ltd.
Competition Deep Dive (Software Vendors)
- Zoho Corp.
- Oracle Corporation
Introduction of Smart Devices Benefitting Warehouse Management Systems Market
Various types of smart devices, including mobile phones and smart tablets, and handheld devices such as scanners, readers, and tags are used in warehouse management for making the process easy. Smartphones and tablets make data entering and receiving easy. When the device is connected to a warehouse management system, operators can easily put in information such as shipping labels and picklists, anytime, from anywhere.
Handheld devices such as barcode scanners are used for scanning the inventory and maintaining accurate inventory count. Other portable handheld devices, which are equipped with RFID technology, Wi-Fi, and cameras, are used to reduce the number of injuries that workers experience and make the work of warehouse staff easy and efficient.
Handheld devices don’t have the ability to handle more complex operations that a smartphone or tablet can do, but these devices can send and receive data related to order fulfillment and delivery tracking. However, demand is increasing for smart devices, as these help easily enter and receive information related to warehouse management activities.
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Rising Demand for Cloud-based Warehouse Management
The demand for cloud-based warehouse management systems is increasing, as these systems help in the communication between a supplier and buyer, and also help improve customer service and reduce inventory costs. Cloud warehouse management systems have the ability to manage both, inbound and outbound freight, and manage the use of cross-docking.
Cloud-based warehouse management systems compatible with other supply chain systems, which include transportation management systems, business analytics, yard management, and slotting management. Cloud-based warehouse management system solutions can be accessed from any location through web-based portals.
These systems have many benefits over on-premise systems, resulting in significant. Cloud warehouse management systems extend supply chains to align inventory management and fulfillment services with modern purchasing methods, and offer real-time visibility into an entire inventory available via smartphones and browsers.
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Warehouse Management Systems Market: Regional Outlook
In terms of value, the warehouse management systems market in North America led the global market in 2019. The warehouse management systems market in the U.S. is projected to offer the most lucrative opportunities for revenue generation over the forecast period, as companies in the U.S. are shifting their operations to the cloud, which is creating potential opportunity for the adoption of cloud warehouse management systems.
The market in South Asia & Pacific is expected to record the highest growth rate over the forecast period, as the manufacturing sector is expanding in countries of the region. Also, other benefits of warehouse management systems such as lower cost and risk, cost-effective growth, and dynamic and advanced features of warehouse management software, are attracting manufacturer in the regions, due to which, the adoption of warehouse management is increasing.
A comprehensive view of the warehouse management systems market trends has led our analysts to conclude that, the market is growing at a compelling rate. Due to the COVID-19 pandemic, the warehouse management systems market would be somewhat stagnant, but will recover in Q1 2021.
North America and Europe hold a significant share in the global warehouse management systems market. Furthermore, the market in South Asia & Pacific is anticipated to grow at a significant rate during the forecast period. Partnerships and collaborations with other warehouse management systems providers is a strategy being adopted by leading vendors to fuel their sales growth.
Warehouse Management Systems Market: Segmentation
PMR’s research study on the global warehouse management systems market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The segmentation of the warehouse management systems market has been offered on the basis of component, deployment, application industry, and region.
Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.
Key Questions Answered in Report
- How much is the warehouse management systems market worth?
The warehouse management systems market is estimated to be worth US$ 475 Bn by the year 2031.
- What will be the demand outlook?
The global warehouse management systems market is expected to witness a CAGR of 14% between 2021 and 2031.
- What was the last 5 year market CAGR?
The global warehouse management systems market witnessed a CAGR of 12% between 2015 and 2020.
- What are the key trends of warehouse management systems market?
The latest trend pertains to FDI investments by various companies to set up production plants in various emerging economies.
- What is driving the demand for warehouse management systems?
Growth in the e-Commerce vertical is driving the demand for warehouse management systems.
- What is the market share of top 5 players?
The top 5 players such as Manhattan Associates, Blue Yonder, HighJump, Oracle, and SAP hold more than 40% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving demand include the US, UK, Germany, Canada, and France.
- What is North America’s market Outlook?
North America holds more than 30% of the market share due to the US.
- At what percentage warehouse management systems market is going to register growth in Europe?
Europe is expected to register growth at the rate of 10% in the warehouse management systems market between 2021 and 2031.
- Which countries are key provider of warehouse management systems?
The US is the key provider of warehouse management systems.