What is the Size of Global Warehouse Management System Industry?
Global Warehouse Management System market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Warehouse Management System Market is largely driven by the development of digital technology in global logistics, including delivery of key performance indicators (KPIs), enhanced supply chain flexibility, and cost-cutting, which have pushed Third-Party Logistics (3PL) and the supply chain sector to adopt warehouse management systems along with the rising e-commerce and customer online purchasing behaviors.
WMS demand is expected to increase significantly as a result of switching supply chain strategies used by product manufacturers and rising consumer demand, especially in the transport & logistics, and retail industries. One of the key factors driving the market expansion is the requirement for manufacturers to automate warehouse management procedures and reduce costs globally. The system's capacity to deliver goods as quickly as possible via the shortest shipping routes could be the cause of the system's skyrocketing demand.
Furthermore, Despite the initial turmoil caused by the COVID-19 pandemic, steady market expansion was made possible by the booming e-commerce sector and a more useful understanding of the benefits of WMS. Additionally, the crisis has quickened the industry's adoption of WMS as well as other warehouse automation solutions.
Global Warehouse Management System Market by Deployment Type
The Global Warehouse Management System Market is segmented by Deployment Type into On-premise and Cloud-Based.
Cloud-based segment held the major market share in 2022 due to its 100% web-based feature and accessibility from any device with an internet connection.
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Regardless of the size and complexity of the organization using WMS, advancements in cloud-based services are expected to accelerate the adoption of WMS software. Medium-sized and small-sized firms, which do not require the adoption of complex warehouse technologies and high-speed automation, are primarily responsible for the growing demand for cloud-based systems.
Global Warehouse Management System Market by Component Type
The Global Warehouse Management System Market is segmented by Component into Hardware, Software and Services.
The software segment accounted for the highest market share in 2022, mostly due to the growing use of WMS software by small to medium-sized enterprises (SMEs) globally.
Since online software is convenient to use, most developed and developing countries prefer to utilize it, which now has led to the software segment dominating the market.
In November 2021, Fishbowl, a software company, developed a new online version of its inventory management software.
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Global Warehouse Management System Market by Tier Type
The Global Warehouse Management System Market is segmented by Tier type into Advanced WMS (Tier 1), Intermediate WMS (Tier 2) and Basic WMS (Tier 3).
Advanced WMS (Tier 1) held the major market share in 2022 owing to the maximum level of interconnectivity and functionality of advanced wms.
Advanced WMS includes and fully integrates the main functions like slotting, labor management, transportation management, and yard management. Tier 1 WMS frequently provides the option to configure business rules within the system. Customization is enabled by the software without the need for extra, specialist programming which enables more seamless upgrading.
Global Warehouse Management System Market by Function Outlook
The Global Warehouse Management System Market is segmented by Function outlook into Labor Management System, Analytics & Optimization, Billing & Yard Management, Systems Integration & Maintenance and Consulting Services.
Systems Integration & Maintenance segment held the major market share in 2022, due to various functions that WMS performs such as receiving and storing inventory, optimizing order selection and shipping, and making recommendations on inventory replenishment.
Businesses can more effectively monitor and optimize their operations by integrating warehouse management systems with other effective software programs.
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Global Warehouse Management System Market by End-User
The Global Warehouse Management System market is segmented by Function into Automotive, Food & Beverages, Healthcare & Pharmaceuticals, E-commerce, Chemicals, Electricals & Electronics, Metals & Machinery, Retail & Consumer goods, Education, Transportation & Logistics, Manufacturing and Others.
The transportation and Logistics segment held the major market share in 2022, due to the expansion of e-commerce sector, rising income levels, and the quick adoption of WMS.
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