Warehouse Management System Market Trends, Size, Share, Price, Growth, Report, Forecast 2023-2028
The new report by Expert Market Research titled, ‘Global Warehouse Management System Market Trends, Share, Price, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global warehouse management system market, assessing the market based on its segments like components, deployment, function, application , and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): 2.6 Billion
• Forecast CAGR (2023-2028): 15.5%
The supply chain’s digitalization contributes in the creation of a fully connected ecosystem. In today’s world, the supply chain is made up of discrete and isolated phases/stages that span marketing, product development, production, and distribution all the way to end users and after-sales services. Digitization has extended throughout all supply chain functions as a result of technological improvements. While processing orders, WMS decreases delivery lead times and faults.
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While implementing WMS, suppliers want improved efficiency and productivity, which enhances supplier–customer relationships. This has led to demand expansion in the historical period and contributes to the market growth. Over the projected period, on-demand supply chain execution is likely to capture a higher proportion of the market.
Industry Definition and Major Segments
A warehouse management system (WMS) is a software solution that provides inventory visibility and oversees supply chain fulfilment activities from the distribution centre to the retail shelf.
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The market based on components can be divided into software and services. The deployment modes available are on-premise and cloud. The major functions offered through warehouse management system are labour management system, analytics and optimisation, billing and yard management, systems integration and maintenance, and consulting services. Industry based on applications are transportation and logistics, retail, healthcare, manufacturing, and food and beverages, among others.
The growing proportion of cloud-based WMS software solutions, increasing awareness of WMS software among small and mid-sized organisations (SMEs), and the internationalisation of supply chain networks are all driving demand for WMS software. In addition, the growing need for more complex warehouse and logistics infrastructure is likely to propel the WMS market for software.
The epidemic has accelerated global digital revolution. The world has resorted to digital technologies to sustain social and commercial operations. Several small and middle-scale industries have begun to embrace digitalization in order to stay viable. Because of the growing number of online customers, the e-commerce business is predicted to develop rapidly.
Key Market Players
The major players in the market are Epicor Software Corporation, Körber AG, Infor., Oracle Corporation, and PSI Logistics GmbH, among others.. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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