The Business Research Company’s Warehousing And Storage Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, July 13, 2021 /EINPresswire.com/ — Many warehousing and storage companies are using big data analytics as a tool to plan and optimize warehouse operations. Big data analytics refers to the process of examining large sets of data to obtain useful information such as hidden patterns, market trends, unknown correlations and customer preferences. Big data analyses the location, capacity, and flexibility of warehouses to predict customer requirements. It helps in improving warehouse planning and replenishment and creating lean supply chains with sophisticated inventory systems. This maximizes workflow, improves floor utilization and increases operational efficiencies and ROI. For example, The Clemens Group, a food services provider uses big data forklift fleet management software to track vehicle impacts, operator productivity and equipment utilization in forklifts in the warehouse. EastPack, one of the largest kiwifruit packing houses in New Zealand, uses big data from real-time location systems to minimize supply chain errors and inventory issues. Major companies using big data analytics in warehousing include Deutsche Post DHL Group, United Parcel Service and Kuehne + Nagel.
Other key players in the market are APL, DHL, Genco, and Mitsubishi Logistics.
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The global warehousing and storage market is expected to grow from $426 billion in 2020 to $447 billion in 2021 at a compound annual growth rate (CAGR) of 4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global warehousing market size is expected to reach $627 billion in 2025 at a CAGR of 9%.
Asia Pacific is the largest region in the global warehousing and storage services market, accounting for 33% of the market in 2020. North America is the second largest region, accounting for 27% of the global market. Africa is the smallest region in the global warehousing and storage market.
TBRC’s storage and warehouse market report is segmented by type into general warehousing and storage, refrigerated warehousing and storage, specialized warehousing and storage, farm product warehousing and storage and by end-use into retail industry, manufacturing industry, consumer goods industry, food & beverage industry, healthcare industry, others.
Subsegments covered are cold storage, frozen storage, automobile dead storage, bulk petroleum and chemical storage, document storage and warehousing, whiskey warehousing, other specialized warehousing and storage.
Warehousing And Storage Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides warehousing and storage market overview, forecast warehousing and storage market size and growth for the whole market, warehousing and storage market segments, and geographies, warehousing and storage market trends, warehousing and storage market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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