The thriving e-commerce and retail sectors across the globe have necessitated the introduction of Global warehouse management systems (WMS) Market, which are known to enable optimized storage and management of products in a warehouse. In a report featured on Market Research Reports Search Engine (MRRSE), it has been noted that warehousing is a fundamental link of the supply chain and the installation of these systems benefits a host of end-use industries.
The publication is titled “Warehouse Management Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024”.
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The opportunity in the worldwide market for warehouse management systems is poised to increase from US$1.2 bn in 2015 to reach US$4.1 bn by 2024, according to the report published by Transparency Market Research. The study finds that this market is likely to exhibit a healthy 14.1% CAGR during that period.
Third-party Logistics Most Significant Application of WMS Solutions
System integration, consulting, and operations and maintenance are the key services offered by warehouse management systems. Among these, operation and maintenance account for the dominant share and the segment is projected to expand at a considerable pace during the forecast period. Software and services are the two main components of warehouse management systems and the services segment has been identified to expand at the fastest pace from 2016 to 2024. This segment is also the leading component in the market. Application-wise, third-party logistics hold the maximum share in the WMS market, with pharmaceuticals offering several investment options for players.
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APAC, MEA, and LATAM Offer Lucrative Investment Options in WMS Market
Europe is the dominant market for warehouse management systems in terms of revenue and accounted for a 43.0% share in 2015. Analysts of the report predict that this region is likely to retain its dominant position in the market through 2024, fueled by the expanding role of third-party logistics. Although North America accounts for a significant share in the global warehouse management systems market, the region is anticipated to register moderate growth during the forecast period, driven by the U.S. market.
The development of the global market for warehouse management systems is also attributed to Asia Pacific, which holds immense scope for growth. Expanding at a rapid pace, this regional market has been gaining momentum owing to the increasing demand for extended solutions that support cloud integration, in-store inventory, and order management. The MEA and Latin America markets for warehouse management systems also offer a host of opportunities for players to capitalize on as retail sectors in these regions have been exhibiting an increased adoption of warehouse management solutions.
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Softeon, Inc., Manhattan Associates Inc., Synergy Logistics Ltd., HighJump Software, SAP SE, Reply, JDA Software Group, Inc., Infor Inc., Made4net LLC, Oracle Corporation, Tecsys, Inc., and LogFire Inc. are the leading players in the warehouse management systems market. The report finds that this market is rather consolidated and most companies have been relying on geographical expansions in order to gain a foothold in the market.
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