Smart Warehousing Market Report 2022: Market is Expected to Reach $29.70 Billion by 2028

Market Overview:
The smart Warehousing Market size is projected to reach USD 29.70 Billion by 2028 from an estimated USD 14.90 Billion in 2021, growing at a CAGR of 10.4% globally.

A smart warehouse is the pinnacle of warehouse automation (in other words, automating various components of your warehousing operations). Like a smart home, a smart warehouse has a variety of automated and networked technology. By 2024, the United Kingdom alone would require 92 million square feet of warehouse space, according to a Knight Frank projection from 2020. Making efficient use of the spaces that are currently restricted will be crucial in the future. Automation in warehouses emerged as a result.

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Market Dynamics:

Driver:

Augmented Warehouse Space Utilization
The utilization of warehouse space can be increased with intelligent warehouses. Automated picking and mobile sorting systems can enable taller racks and narrower aisles, allowing for more items to be stored in the same amount of space as traditional warehouses because traffic and aisle congestion are reduced. Utilizing warehouse space more effectively lowers overhead expenses per sold item. This cost savings can be transferred to customers in the form of lower prices or increased operator profit margins.

Market Trend:
The Future of The Smart Warehouse
A drive toward quicker, smarter, automated systems and away from complex, unchanging, reactive supply chains is represented by smart warehouses, and this trend is expected to continue. Outsourcing and China's hegemony in manufacturing will fade as businesses use smart warehousing systems and operate more effectively at comparable, if not lower, prices. Cobots, or robots that resemble people, as well as a surge in 3D printing will make this possible. It is anticipated that standards will be created for how IoT devices connect, store, and process data.

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Market Segmentation
Based on the component, the hardware segment is expected to hold the maximum market share during the forecast period. This rise can be due to the growing popularity of smartphone devices across multiple sectors, which can quickly deploy inventory management systems and automated picking tools to handle the inventory process and lower total labor costs.

Based on the technology, the AI segment is expected to dominate the smart warehousing market throughout the forecast period. AI can assist warehouses in becoming "smart." The entire operation, from purchase to delivery, will be managed by AI in a 'smart warehouse.' Pick-and-pack processes may be streamlined with the use of artificial intelligence. AI solutions may operate 24 hours a day, seven days a week.

Based on the application, the inventory management segment is anticipated to register significant market growth during the forecast period. Due to they keep the most crucial aspect of the business, inventory, warehouses are critical to e-commerce success. Internal operations must be as efficient as possible, regardless of whether the warehouse is in-house or outsourced to a 3PL fulfillment business.

By Component
• Hardware
• Solutions
• Services

By Technology
• IoT & Analytics
• RFID
• AI
• AGV

By Application
• Inventory Management
• Transport Management
• Shipping Management
• Order Management
• Others

By Verticals
• Energy & Utilities
• Transportation & Logistics
• Retail & Ecommerce
• Agriculture
• Others

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Regional Analysis of Smart Warehousing Market:
North America accounts for the largest revenue share contribution to the global smart warehousing market owing to various factors such as rising adoption of smart warehousing hardware, software, and services, early adoption of new technological advancements, and the presence of key players in this region. Because of the growing demand for automated warehouse cycles for increased productivity, effectiveness, and precision, smart warehousing technologies, solutions, and services are expected to gain traction in this area. Smart warehouse solutions allow for greater adaptability and increase employee capacity.

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
• Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South America)

Major Key Players Considered in the Market
• IBM (US)
• Oracle (US)
• SAP (Germany)
• EasyEcom (India)
• Manhattan Associates (US)
• PSI Logistics (Germany)
• PTC (US)
• Tecsys (Canada)
• Reply (Italy)
• Infor (US)
• Korber (Germany)
• Softeon (US)
• Generic (France)
• Microlistics (Australia)
• Blue Yonder (US)
• Vinculum (India)
• IAM Robotics (US)
• Epicor (US)
• 3PL Central (US)
• BlueJay Solutions (US)
• Mantis (US)
• Synergy Logistics (US)
• WareIQ (India)
• Foysonis (US)
• Increff (India)
• Locus Robotics (US)
• ShipHero (US)
• Orderhive US)
• Unicommerce (India)
• Logiwa (US)

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Key Industry Developments In Smart Warehousing Market
In October 2021, Smart Warehousing, a nationwide provider of warehousing and fulfillment services, has opened an Innovation Hub in its Edgerton, Kansas headquarters. The move, according to the firm, would allow it to become a major fulfillment player while also promoting strategic alliances with warehousing automation companies, which will utilize the Kansas site to test the technology in real-world circumstances.

In August 2021, SwoopTalent, a prominent provider of AI-powered platforms, has been purchased by SAP to boost organizational agility and accelerate corporate growth. SAP intends to employ SwoopTalent's technology to improve its AI capabilities and give customers a comprehensive and constantly updated view of their customers.
Objectives of the global Smart Warehousing market

1. To identify the main subsegments of the Smart Warehousing market to comprehend its structure.

2. Identifies describes, and analyses the sales volume, value, market share, competitive market landscape, opportunities and threats, and strategic initiatives for the main worldwide Smart Warehousing manufacturers for the next few years.

3. To examine the Smart Warehousing in terms of specific expected growth, career outlook, and market share contribution.

4. Analyse commercial developments in the market, such as market expansions, partnerships, new product development, and mergers.

5. To develop a strategic analysis of the main players and a thorough analysis of their strategic planning.

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