Northbrook, IL 60062 -- (SBWire) -- 08/14/2023 --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% from 2021 to 2026.
The recent trends in global logistics such as delivery KPIs, increased flexibility in the supply chain, and cost-cutting are the drivers for 3PL and supply chain industry to adapt to warehouse management systems. The increase of e-commerce and online buying trends of customers is further driving the growth of warehouse management systems market. Favorable trade and government policies and lower taxes on businesses are a few of the factors that are driving foreign investments in developing economies. Hence, emerging countries are one of the key growth opportunities for the WMS market.
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Warehouse Management System Market for E-commerce industry to grow at the highest CAGR during the forecast period
The e-commerce industry is experiencing tremendous growth with the increasing use of the internet and internet-enabled devices such as smartphones, tablets, and desktops. The growth of the e-commerce industrycan be attributed to the increasing trend of electronic fund transfer, internet marketing, online transaction processing, and electronic data interchange. E-commerce has modernized the retail business concept for organizations, vendors and customers by reducing cost, improved quality, and speedy delivery of products. E-commerce has four major models: business-to-business (B2B), business-to-customer (B2C), customer-to-customer (C2C), and customer-to-business (C2B). E-commerce is one of the fastest-growing end-user industries of WMS solutions. Rapidly changing customer demands, rise in online shopping, increasing demand for shorter delivery times, and fierce competition among online retailing companies have boosted the demand for automated fulfillment centers, which, in turn, has increased the demand for adaptable and dedicated WMS solutions in the e-commerce industry.
Warehouse management system market in Asia Pacific to grow at the highest CAGR
The presence of developing countries in the Asia Pacific region such as India is driving the growth of the WMS market in this region. The Make in India initiative by the Indian government has given rise to manufacturing and warehousing facilities in India. Similarly, India is moving toward digitization, advanced engineering, and manufacturing. New manufacturing plants for automotive and healthcare industries are proposed and are under construction in the country. India is one of the largest consumers of energy & power. Due to the high consumption of energy, India is now moving toward sustainable and renewable sources and one of those is solar energy. New manufacturing plants for solar equipment and electric automotive are being set in every corner of India. All these developments are resulting in attractive market opportunities for warehouse management system industry in Asia Pacific region.
Key Market Players
Manhattan Associates, Inc. (US), Blue Yonder Group, Inc. (US), HighJump (Körber) (US)>, Oracle Corporation (US), IBM (US), and SAP (Germany) are a few warehouse management system companies in this market.
Warehouse Management System Market Trends and Opportunities 2026