Warehouse Management Systems Market Growth & Trends
The global warehouse management systems market size is anticipated to reach USD 13.34 billion by 2030, advancing at a CAGR of 19.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing transition towards cloud-based management systems in the warehouse industry is anticipated to boost the demand for WMS based on the Software-as-a-Service (SaaS) model.
Advancements in cloud-based technologies are estimated to fuel the adoption of WMS software, irrespective of the organization’s size and complexity where these solutions are used. Surging demand for cloud-based systems can primarily be attributed to medium and small-sized businesses that do not require the implementation of advanced warehouse technologies and high-speed automation.
Larger organizations are also switching to cloud-based warehouse management systems, as it allows organizations to offload exhausting tasks such as maintenance, infrastructure administration, and timely upgrades, among other tasks that are carried out on the on-premise software. Cloud enables businesses running on conventional on-premise technologies to transit to a platform that will support and cater to their clients’ needs more efficiently. Low upfront cost and shorter implementation time are the key factors encouraging companies to move toward cloud-based systems.
In the healthcare ecosystem, a warehouse management system (WMS) ensures that medical equipment and medicines are supplied in time. Also, WMS continuously updates the database of the inventory moving in and out of a warehouse, which prevents the shortage of inventory. Furthermore, in the healthcare domain, continuous sharing of information and transparency of all processes are the critical factors for efficient warehouse management.
WMS enables complete transparency of logistic activities and enables proper tracking of medical devices and medicines. Similarly, in the food & beverage industry, the WMS ensures optimized picking, directed put away, and rotation of stock based on its expiry date.
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Warehouse Management Systems Market Report
Warehouse Management Systems Market Report Highlights
- The market for warehouse management system is anticipated to witness substantial growth during the forecast period due to the changing supply chain models of product manufacturers and rapidly growing consumer demand, especially in the transport & logistics and retail sectors
- The software segment is expected to register the highest CAGR during the forecast period, owing to the increasing adoption of WMS software by small and mid-sized enterprises (SMEs) worldwide
- The cloud segment is expected to advance with the highest CAGR during the forecast years, owing to numerous functionalities that cloud-based WMS offers over the traditional on-premise WMS
- The transportation & logistics segment is expected to register the highest CAGR during the projection period, owing to the rising need for technologically advanced warehouse management systems that can help logistics companies to keep their operations aligned with the ever-demanding market
- Asia Pacific is expected to register the highest CAGR during the forecast period due to the high influx of e-commerce players in the region
