“The Warehouse Management System (WMS) market is projected to witness significant growth between 2017 and 2023”
The warehouse management system market is anticipated to reach USD 3.23 billion by 2023, at a CAGR of 14.1% between 2017 and 2023. Key factors driving the growth of the warehouse management system market are emergence of multi-channel distribution networks, growth of the e-commerce industry, increased adoption of on-cloud WMS solutions, and globalization of supply chain networks. However, major factors restraining the growth of the market include reluctance in replacement of legacy systems and high implementation cost of on-premise WMS for small and medium-sized enterprises (SMEs).
“The services segment of the warehouse management system market is expected to grow at the highest CAGR during forecast period”
Based on component, the services segment of the warehouse management system market is projected to grow at the highest CAGR between 2017 and 2022. WMS software is increasingly susceptible to malfunction, due to virus attack or security breach. Hence, warehouse operating companies are focused on performing regular software upgrades and scanning of the WMS software to ensure that the software is free from any kind of defect. The after-sale services provided by WMS vendors such as installation, testing, and software upgrades, among others, help in improving the overall performance of the WMS software. Therefore, there is an increasing demand for after-sale services among warehouse operators.
“Advanced (Tier 1) WMS is expected to lead the warehouse management system market between 2017 and 2023”
Based on tier type, the advanced (Tier 1) WMS segment is expected to account for the largest share of the warehouse management system market during the forecast period. Key factors such as efficient handling of complex warehouse and distribution networks, high scalability, and quick processing of a large amount of data generated through warehousing and logistics operations are driving the demand for advanced (Tier 1) WMS solutions.
“Asia Pacific to be the fastest-growing market for warehouse management system during the forecast period”
The warehouse management system market in the Asia Pacific region is expected to grow at the highest CAGR between 2017 and 2023. This growth is mainly attributed to the expansion of the e-commerce and manufacturing industries in emerging economies, such as China, India, and Indonesia.
The break-up of the profiles of primary participants for the report has been given below.
- By Company Type: Tier 1 – 45%, Tier 2 – 35%, and Tier 3 – 20%
- By Designation: C Level – 55%, D Level – 30%, and Others – 15%
- By Region: Americas - 50%, Europe – 25%, Asia Pacific – 20%, and Middle East & Africa– 5%
Key players operating in the warehouse management system market include Epicor Software Corp. (US), JDA Software Group, Inc. (US), Manhattan Associates, Inc. (US), Oracle Corp. (US), SAP SE (Germany), IBM Corp. (US), Infor, Inc. (US), PTC Inc. (US), PSI AG (Germany), TECSYS Inc. (Canada), BluJay Solutions (U.K.), and HighJump (US).
The research report on the warehouse management system market covers different segments based on component, implementation, tier type, industry, and region. Based on component, the market has been segmented into software and services. On the basis of implementation, the warehouse management system market has been classified into on-premise and on-cloud. Based on tier type, the market has been segmented into advanced (Tier1), intermediate (Tier 2), and basic (Tier 3). With respect to industry, the warehouse management system market has been segmented into automotive, food & beverages, healthcare, e-commerce, chemicals, electrical & electronics, metals & machinery, and others. Based on region, the market has been classified into four major regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
- Illustrative segmentation, analysis, and forecast for the market based on component, implementation, tier type, industry, and region have been conducted to offer an overall view of the warehouse management system market.
- The value chain analysis has been performed to provide an in-depth insight into the warehouse management system market.
- The report provides a detailed overview of major drivers, restraints, opportunities, and challenges influencing the growth of the warehouse management system market.
- The report also includes competitive landscape, along with in-depth analysis and revenue of key players.