The “Global Warehouse Management System Market with COVID-19 Impact Analysis by Offering (Software, Services), Deployment (On Premises, Cloud), Tier Type (Advanced, Intermediate, Basic), Industry, and Region – Forecast to 2026″ report has been added to ResearchAndMarkets.com’s offering.
The global warehouse management system market size is expected to grow from USD 2.8 billion in 2021 to USD 6.1 billion by 2026, at a CAGR of 16.7%.
The growth of this market can be attributed to the growth in the e-commerce industry due to the COVID-19 pandemic, emerging multichannel distribution channels, the globalization of supply chain networks, the increased adoption of cloud WMS solutions, and the rising need for efficient forecasting models.
However, factors such as data privacy and security concerns, and high implementation costs of on-premise warehouse management systems for SMEs may restrain the market growth to some extent. Moreover, the lack of awareness about the benefits of WMS among small-scale industries, the lack of skilled personnel for maintenance & implementation of WMS, and the constant need for WMS software upgrades pose challenges for companies using WMS for their warehouse operations.
3PL industry to dominate the warehouse management market in 2021
The 3PL industry is one of the primary drivers of the WMS market. Factors such as the growing need for efficient order management, increased outsourcing of logistics and transportation operations, and the globalization of supply chain networks has fueled the adoption of warehouse management systems in the 3PL industry.
The trend of industrial automation has initiated most organizations to focus on the adoption of warehouse automation systems to achieve high operational efficiency and functional capabilities. The leading warehouse management system providers are focusing on the delivery of industry-specific customization in WMS that provides an end-to-end solution, allowing organizations to coordinate their procedures and inventory across their network.
Software to hold the largest market share of the warehouse management system market during the forecast period
Increasing awareness about WMS software among small and mid-sized enterprises (SMEs), the globalization of supply chain networks, and the growing share of cloud-based WMS software solutions are the key factors boosting the demand for WMS software. Further, the rising demand for highly sophisticated warehousing and logistics infrastructure is expected to drive the growth of the WMS market for software.
For instance, in May 2020, Manhattan Associates announced a new Manhattan Active warehouse management solution, a cloud-based enterprise-level warehouse management system that combines every aspect of distribution and never needs upgrading. The Manhattan Active WMS is sold in multi-year cloud subscription options and can be operated through a mobile phone, tablet, or desktop. Companies innovating offerings and functionalities are enhancing user experience and improving operational efficiency, which is leading to the growth of the WMS software market.
Market in APAC to grow at highest CAGR during the forecast period
APAC is the fastest-growing market for warehouse management systems. APAC is the fastest-growing market for warehouse management systems. The growth of the market in this region can be attributed to the tremendous growth of the e-commerce and manufacturing industries in emerging economies such as China, India, and Indonesia. China is a key contributor to the growth of the WMS market in APAC owing to its huge industrial and manufacturing sector. India is one of the fastest-growing markets for WMS in APAC.
- Accelerated Growth of E-Commerce Industry
- Increasing Demand for Cloud Wms Solutions
- Surging Adoption of Multichannel Distribution Networks
- Rising Supply Chain Globalization
- Growing Significance of Forecasting Models in Warehouse Management
- Dearth of Skilled Personnel for Wms Implementation and Maintenance
- High Investment Required in Setting Up On-Premise Wms for Smes
- Concerns Regarding Data Privacy and Information Security
- Adoption of Digital Technologies in Supply Chain Management
- Attractive Investments by Companies in Emerging Economies
- Insufficient Knowledge of Wms Among Small-Scale Industries
- Inconsistent Software Updates
- 3Pl Central LLC
- Blue Yonder Group, Inc.
- Blujay Solutions Ltd.
- Cantaloupe, Inc.
- Datapel Systems
- Generix Group
- Highjump (Korber)
- Manhattan Associates, Inc.
- Mantis Informatics S.A.
- Nulogy Corporation
- Oracle Corporation
- Psi Logistics GmbH
- Ptc Inc.
- Synergy Logistics Ltd.
- Tecsys Inc.
- Vinculum Solutions Pvt. Ltd.
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybersecurity, go to AI-Techpark.com.