The warehouse management system (WMS) market is increasing rapidly, becoming an important investment area across the globe. The market growth attributes to the proliferating online retailing sector across the world. The success of eCommerce operations largely depends on the timely delivery of the shipments, which involves robust warehouse management to handle store and process goods.
Warehouse management software integrated with the ERP plays a causal role in rapid applicability for the success of online retailing, providing real-time data related to stocks. This, as a result, the global WMS market is garnering huge traction, witnessing increasing expenses and deployment of the WMS technology. Moreover, the rising demand for WMS in the healthcare sector escalates the growth of the market.
According to the market research future, the global warehouse management system (WMS) market is poised to create a valuation of USD 2.45 Billion by 2022, growing at 14% CAGR throughout the review period (2016-2022). In 2015, the WMS market size was valued at around USD 1.15 BN. Most small, medium & large enterprises have adopted the warehouse management systems, which further pushes the market growth.
Additionally, the rapid industrialization and growing numbers of businesses provide an impetus to the growth of the market. Also, advances in management technologies act as a key tailwind for the market growth. Various innovative warehouse technologies, such as robotic WMS and supply material handling automation systems, have devised over the past few years.
Besides, dramatically increasing demand for e-commerce fulfillment positively impacts the growth of the market. Growing product developments would influence market growth, offering innovative warehouse technologies. On the other hand, technical complexities and the high cost of the technology are the major factors forecasted to impede the growth of the market.
Also, the recent COVID 19 pandemic has posed challenges to market growth, complicating the WMS procurement process. The epidemic has driven many firms to work remotely and warehouses to adopt social distancing measures, making it challenging the process for standing up a new WMS. Nevertheless, the rising popularity of WMS would support market growth throughout the assessment period.
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Warehouse Management System (WMS) Market – Segments
The report is segmented into three dynamics;
By Service Type : Consulting, Software, System integration, Operations & Maintenance, and others.
By Application : Pharmaceutical, Electronics, Transportation & Logistics, Retail, and others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Global WMS Market – Regional Analysis
Europe dominates the global warehouse management system (WMS) market. The largest market share attributes to advancements in WMS and the increasing awareness of cloud-based warehouse management systems. Besides, the growing adoption of on-demand cloud services, alongside the rapidly increasing markets in Germany, the UK, France, and Italy, act as major driving forces for the market increase. The European WMS market is projected to retain its dominance over the forecast period.
North America stands second in the global warehouse management system (WMS) market. The region is a hub for futuristic technologies and witnesses vast management solution options. The presence of notable players and early adoption of IoT and Artificial Intelligence (AI) technologies drive the WMS market in North America. The US, backed by rising technological developments, accounts for the largest share in the regional market. The North American WMS market is estimated to create a substantial revenue pocket during the assessment period.
The Asia Pacific warehouse management system market is emerging as a promising market globally. The market is driven by the burgeoning IT & telecom sector and the rapid economic growth in the region. Moreover, economically and technologically developing countries such as China, Japan, and India play a causal role in developing the market, offering substantial growth opportunities for the market players. The APAC warehouse management system market is forecasted to grow at an impressive CAGR during the estimated period.
Global Warehouse Management System Market – Competitive Analysis
Highly competitive, the global WMS market appears fragmented due to the presence of several well-established players. Industry players are increasingly adopting strategies such as mergers & acquisitions, collaboration, expansion, and product launch to gain a competitive share.
Vendors focus on improving their market performance and the expansion of the global footprint. They make substantial investments for product development and expansion. They also employ a continuous improvement strategy to analyze and update the software, implementing improvements, and launch new technologies.
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