Handsome Male Worker Wearing Hard Hat Holding Digital Tablet Computer Walking Through Retail Warehouse full of Shelves with Goods. Working in Logistics and Distribution Center.
The Warehouse Management System Global Market Report 2023, provides comprehensive information on the warehouse management system market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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According to The Business Research Company’s 2023 Warehouse Management System Global Market Report, it is projected that the market will experience substantial growth. From $2.74 billion in 2022, it is expected to surge to $3.15 billion in 2023, reflecting an impressive Compound Annual Growth Rate (CAGR) of 14.9%. However, it’s essential to consider the significant disruptions caused by the Russia-Ukraine conflict. This geopolitical tension has, in the short term, impeded the global economic recovery process initiated after the COVID-19 pandemic.
The repercussions include far-reaching economic sanctions affecting multiple nations, a notable escalation in commodity prices, and disruptions in global supply chains. These, in turn, have contributed to inflationary pressures across various sectors, significantly impacting global markets. Despite these challenges, the warehouse management system market is poised for sustained expansion. Projections indicate that it will reach $5.5 billion by 2027, driven by a strong CAGR of 15.0%. This growth reflects the resilience and adaptability of this sector in the face of global adversities.
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One pivotal and increasingly prominent trend within the warehouse management system market is the continuous evolution of technology. Technological advancement, in this context, refers to the ongoing acquisition of knowledge and its practical application to propel the field of technology forward. A noteworthy illustration of this trend materialized in May 2020 when a US-based provider specializing in technology solutions for distribution centers unveiled the groundbreaking Manhattan Active Warehouse Management solution. This remarkable innovation stands as the world’s inaugural cloud-native enterprise-class warehouse management system (WMS).
Distinguished by its revolutionary capabilities, this new warehouse management system seamlessly integrates all facets of the distribution process. It incorporates a unified control framework that empowers management teams to swiftly access, assess, and take proactive measures at any point within their supply chain network. This advanced technological leap not only optimizes operational efficiency but also exemplifies the dynamic synergy between innovation and warehouse management practices. Such innovations bear profound implications for the industry’s future, underscoring the inexorable march toward more sophisticated and efficient WMS solutions.
The warehouse management system market is segmented:
1) By Offering: Software, Services
2) By Deployment: On Premises, Cloud
3) By Function: Labor Management System, Analytics And Optimization, Billing And Yard Management, Systems Integration And Maintenance
4) By Application: Transportation And Logistics, Healthcare, Retail, Manufacturing, Food And Beverage, Other Applications
North America was the largest region in the warehouse management system market in 2022.
The table of contents in TBRC’s warehouse management system market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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