A warehouse management system can connect to and collect data from devices like conveyors, picking equipment, and assembly lines using M2M technology.
Because it enables devices or machines to share information and complete tasks independently, machine-to-machine technology is being used more and more in warehouse management.
Warehouse management systems with M2M technology help monitor stages of production and control series of events. As M2M technology checks the functioning of machines in a warehouse, it helps maintain quality. M2M collects and exchanges information, and also provides actionable insights for better decision-making.
Accuracy in information facilitates demand forecasting, helping warehouse managers predict the appropriate delivery time of the product. All these factors are expected to boost the growth of the warehouse management systems market size through 2030.
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Introduction of Smart Devices Benefitting Warehouse Management Systems Market
Various types of smart devices, including mobile phones and smart tablets, and handheld devices such as scanners, readers, and tags are used in warehouse management for making the process easy. Smartphones and tablets make data entering and receiving easy. When the device is connected to a warehouse management system, operators can easily put in information such as shipping labels and picklists, anytime, from anywhere.
Handheld devices such as barcode scanners are used for scanning the inventory and maintaining accurate inventory count. Other portable handheld devices, which are equipped with RFID technology, Wi-Fi, and cameras, are used to reduce the number of injuries that workers experience and make the work of warehouse staff easy and efficient.
Handheld devices don’t have the ability to handle more complex operations that a smartphone or tablet can do, but these devices can send and receive data related to order fulfillment and delivery tracking. However, demand is increasing for smart devices, as these help easily enter and receive information related to warehouse management activities.
Rising Demand for Cloud-based Warehouse Management
The demand for cloud-based warehouse management systems is increasing, as these systems help in the communication between a supplier and buyer, and also help improve customer service and reduce inventory costs. Cloud warehouse management systems have the ability to manage both, inbound and outbound freight, and manage the use of cross-docking.
Cloud-based warehouse management systems compatible with other supply chain systems, which include transportation management systems, business analytics, yard management, and slotting management. Cloud-based warehouse management system solutions can be accessed from any location through web-based portals.
These systems have many benefits over on-premise systems, resulting in significant. Cloud warehouse management systems extend supply chains to align inventory management and fulfillment services with modern purchasing methods, and offer real-time visibility into an entire inventory available via smartphones and browsers.
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Analysts’ Viewpoint
A comprehensive view of the warehouse management systems market trends has led our analysts to conclude that, the market is growing at a compelling rate. Due to the COVID-19 pandemic, the warehouse management systems market would be somewhat stagnant, but will recover in Q1 2021.
North America and Europe hold a significant share in the global warehouse management systems market. Furthermore, the market in South Asia & Pacific is anticipated to grow at a significant rate during the forecast period. Partnerships and collaborations with other warehouse management systems providers is a strategy being adopted by leading vendors to fuel their sales growth.
Warehouse Management Systems Market: Segmentation
PMR’s research study on the global warehouse management systems market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The segmentation of the warehouse management systems market has been offered on the basis of component, deployment, application industry, and region.
Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.
Component
Hardware
RFID Tags
Scanners and Readers
Mobile Computers
Software
Standalone WMS Software
Integrated WMS Software
Supply Chain Management
ERP System (with WMS Features)
Service
Integration & Deployment
Support & Maintenance
Consulting
Deployment
On-premise
Cloud
Application
Inventory Management
Purchase & Order Management
Supply Chain Management
Asset Management
Others
Industry
Retail & Consumer Goods
Automotive
Transport & Logistics
Healthcare & Pharmaceuticals
Electrical & Electronics
Others
Region
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa
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