News

Warehouse Management Systems Market will be growing at a CAGR of 15.6% during the forecast 2019 to 2027

According to a new market research report published by Acute Market Reports, “Warehouse Management Systems Market — Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the warehouse management systems market was valued at US$ 3.41 Bn in the year 2018 and expected to reach US$ 12.53 Bn by the year 2027, expanding at a CAGR of 15.6% during the forecast from 2019 to 2027.

Market Insights

“Increasing Demand for Warehouse Services expected to spur the Warehouse Management Systems demand over the Forecast Period”

Warehouse management is as important for a company as its production management. This is because it helps in achieving economies of scale in production or purchasing, reduces transportation cost, and further reduces the response time. Hence, companies have drastically improved their warehousing operation over the past years to sustain in the highly competitive market. However, new transformations in warehouse industry expected in the near future owing to emergence of new technologies and disruptive thinking regarding workflow and space. Technologies such as barcode readers, mobile computers, wireless devices, and small inventory robots have brought several disruption in the warehouse management.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/warehouse-management-system-market

These days, companies are significantly investing in mobile technologies as they increases the inventory turn and reduces cost remarkably. In addition, Automatic Identification and Data Collection (AIDC) coupled with mobility provides real-time data for business driven decision making. Real-time inventory data also helps in maintaining a record of sales and production. In addition, rising concern of land availability is burgeoning the warehouse management systems growth.

The global warehouse management systems market is highly competitive owing huge volatility in the consumer demand. In addition, market players invest significantly on the enhancement & feature addition of the existing solution to improve the customer satisfaction. Present market mainly focuses on the AI and algorithm integration in the existing software that makes it nascent. Furthermore, the global WMS market presents dynamic opportunities in the forthcoming years.

Industrial Developments

On February 03, 2020, PSI Logistics GmbH announced to launch a new warehouse management software with expanded functions range. The software was designed to help companies in dynamic resource planning & interactive warehouse visualization.
On April 10, 2019, SkuVault, an e-commerce inventory and warehouse management software announced its integration with Zudello, a platform that will automate the purchase order process and invoice. The software will eliminate the need for manual data entry and streamline the product handling and fulfillment process.
On June 26, 2018, Oracle Corporation announced to extend the capabilities of its Cloud-based WMS software that helps in reducing logistics cost, improving consumer experience, and optimizing inventory process.

Key Market Movements:

Globally, the warehouse management systems market projected to witness a CAGR of 15.6% during the forecast period from 2019 to 2027
On-premises dominated the global warehouse management systems market in the year 2018. Due to prior emergence of warehouse and inventory management hardware on-premise deployment was preferred in small and medium enterprises. However, with the emergence of cloud-based warehouse management software inventory tracking and fulfillment of consumer demand has become easier. In addition, Cloud-based software shows prominent growth during the forecast period.
Software held the largest revenue share in the year 2018 and depicts steady growth during the forecast period. Integration of Artificial Intelligence (AI) and other new technologies to enhance the software performance and consumer experience is one of the prime factors supporting the growth of software.
Services expected to register profound growth over the forecast period owing to lack of sufficient inventory space for every small & medium enterprises. In addition, warehouse services saves additional inventory cost associated during the off-season.
The Asia Pacific encountered escalating growth during the forecast period owing to rising e-commerce, retail and manufacturing industries. However, North America dominated the global WMS market with dominating e-commerce business worldwide and early acceptance of warehouse management services across the region.

Access Free Sample Copy of Research Report: https://www.acutemarketreports.com/request-free-sample/139211

List of Companies Covered: