Warehouse Management Systems Market: Warehouse Management Systems Used Extensively in Third-party Logistics
“WMS players from the developed markets of North America are expanding their operations in emerging markets such as India, Brazil, China, Indonesia, and several European countries, which have been experiencing high growth in the retail applications of warehouse management systems,” the author of the study states.
For instance, in September 2015, Canada-based Tecsys, Inc. expanded its presence in the European market by starting operations in the U.K., Italy, France, Germany, Spain, and Portugal.
The opportunity in the global warehouse management systems market was worth US$1.2 bn in 2015 and is expected to be worth US$4.1 bn by 2024, expanding at a strong 14.1% CAGR from therein.
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Warehouse Management Systems Used Extensively in Third-party Logistics
Accounting for a share of just over 58% in 2015, services formed the leading component segment in the overall warehouse management systems market. At a 15.1% CAGR from 2016 to 2024, this segment is also projected to witness a growth rate higher than the software segment. Between on-premise and cloud-based warehouse management systems, the former accounted for a share of around 77% in 2015. However, cloud-based WMS are likely to witness immense growth during the course of the forecast period.
Based on application, third-party logistics held the leading share in the WMS market in 2015, while the pharmaceutical segment is projected to register a high CAGR from 2016 to 2024. Geographically, Europe held a 43% share in the total revenue generated by the global warehouse management systems market in 2015, generating US$560.7 mn that year. On the other hand, Asia Pacific will register a 17.2% CAGR during the course of the forecast period, emerging as an immensely lucrative regional segment in the warehouse management systems market.
This 146-page report gives readers a comprehensive overview of the Warehouse Management Systems Market. Browse to unlock the hidden opportunities in this market@
Changing Retail Scenario in APAC a Key Demand Driver
Globalization and the rising demand for advanced warehouse management solutions in the emerging markets of Asia Pacific is one of the key factors fueling the demand for warehouse management systems. “Rising urbanization and the consequent increase in per capita income have brought about a remarkable transformation in the retail sector in the region,” the lead analyst states.
Consumers have been increasingly inclined toward online shopping owing to the vast benefits the platform presents, owing to which, the very structure of the retail sector has evolved. Trying to meet the growing consumer demand and the resultant tackling challenges of capacity and capability has significantly boosted the demand for warehouse management systems worldwide.
“However, even with the time and cost saving features of WMS, factors such as high initial investment cost and the lack of ICT infrastructure in many countries are likely to curtail the growth of the warehouse management systems market,” the author of the study predicts.
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