The global warehouse management system market will touch USD 3 billion at a whopping 43?GR in the forecast period (2020- 2027), as per the new Market Research Future (MRFR) report.
The warehouse management system market is segmented based on services and end users.
By services, the professional services will lead the market over the forecast period for the adoption of network virtualization among different companies. The demand for the NFV technologies helped to grow the market demand and adoption of the v-CPE infrastructures.
By end users, the food & beverage segment will dominate the market over the forecast period. Rising need for food and beverages among the consumers increase the implementation of WNS solutions in the warehousing facilities.
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Manufacturers Need to Automate Warehouse Management Process to Boost Market Growth
The requirement for manufacturers in automating warehouse management processes and reduce costs globally will boost market growth over the forecast period.
Rising Trend of Online Purchasing to offer Robust Opportunities
The demand for warehousing has gone up for the growing trend of online purchasing that will offer robust opportunities for the warehouse management system market during the forecast period. The implementation of social distancing, lockdowns, and other forms of safety measures for the pandemic has resulted consumers in purchasing online. Thus several multinational companies are setting up new warehouses across different countries for accommodating the growing need.
High Implementation Cost to act as Market Restraint
The high implementation cost of warehouse management systems and lack of workforce for maintenance of WNS due to the onset of COVID-19 may act as market restraints over the forecast period.
Lack of Awareness to act as Market Challenge
The lack of awareness regarding the perks of WNS among small-scale industries may act as a market challenge over the forecast period.
The COVID-19 outbreak has rapidly changed the behavior of consumers towards online channels. The demand for online has increased for multiple categories, including pharmaceuticals, essentials, and food and beverages that are being offered with innovative contactless formats. This has given an impetus to the growth of e-commerce, FMCG industries, and 3PL. The demand for warehousing has also increased for the online demand for different products. Different multinational companies are setting up new warehouses across different countries for accommodating this rising demand. This has resulted to a surging need for warehouse management system in ecommerce and 3PL industries. E-commerce leaders like eBay, Alibaba, and Amazon are ramping up the need for WMS as they continue in setting up new warehouse worldwide. Ever since the COVID-19 struck, the market in 2020 with constant lockdown, there was a halt in the overall demand activity in industries like metal and machinery, electronics, and automotive. The market is expected to have short-term reduction in demand for WMS implementation and upgrades in 2020 owing to lockdown in different countries in the world. But with the lockdown being relaxed gradually, and industrial operations are being resumed with limited capacity.
North America to Have Lions Share in Warehouse Management System Market
North America will possess lions share in the market over the forecast period. The presence of large companies with worldwide warehousing & distribution operations, wide networks of third-party logistics companies, growth in the e-commerce industry, the strong presence of ERP vendors in the US, and high demand for food and beverages that needs constant supply from warehouses as this adds quality control, consistency, and efficiency to the process are adding to the global warehouse management system market growth in the region.
Key players profiled in the global warehouse management system market report include
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Warehouse Management System Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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