Kenneth Research, in its repository of market research reports, has recently added a report on Warehouse Management System Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Terminal Management System Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Warehouse Management System Market products.
Final Report will add the analysis of the impact of COVID-19 on this industry.
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Kenneth Research, in its repository of market research reports, have recently added a report on Warehouse Management System Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022 2031. The Warehouse Management System Market 2021 Analysis by Industry Share, Forthcoming Developments, End-User Demand, Size Estimation, Growth Factors, Overview, and Forecast Report till 2030is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G.
By Component (Software, Services), Implementation (On-Premise, On-Cloud), Tier Type (Advanced, Intermediate, Basic), Industry (Automotive, Food & Beverages, Healthcare, E-Commerce) and Regional Market Size, Status and Forecast to 2025.
The global Warehouse Management System Market was valued at USD 1.29 billion in 2016 and is projected to reach USD 4.19 billion by 2025, growing at a CAGR of 13.98% from 2017 to 2025. A warehouse management system is a software application, designed to support and optimize warehouse or distribution center management. Due to growth in E-Commerce and IoT, automation industry is also expanding. Warehouse management software is also expected to be in high demand in coming years.
2. Market Restraints
2.1 Reluctance in Replacement of Legacy Systems
2.2 High Implementation Cost of On-Premise WMS for Smes
1. Global Warehouse Management System Market, by Industry:
1.2 Food and Beverage
1.6 Electricals & electronics
1.7 Metals and machinery
2. Global Warehouse Management System Market, by Function:
2.1 Warehouse Slotting
2.2 Receiving and put away
2.3 Inventory control
2.5 Workforce and task management
2.7 Yard/Dock Management
3. Global Warehouse Management System Market, by Tier type:
3.2 Intermediate (Tier2)
3.3 Basic (Tier3)
4. Global Warehouse Management System Market, by Implementation:
5. Global Warehouse Management System Market, by Component:
5.2.5 Software Upgradation
6. Global Warehouse Management System Market, by Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. Epicor Software Corp.
2. JDA Software Group, Inc.
3. Manhattan Associates, Inc.
4. Oracle Corp.
5. SAP SE
6. IBM Corp.
7. Infor, Inc.
8. PSI AG
9. PTC Inc.
10. Tecsys Inc.
11. Blujay Solutions
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These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Warehouse Management System Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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