Hardware Warehouse Management Systems Market
The market for warehouse management systems is expected to grow from its estimated value of US$ 3,152.1 Mn in 2022 to US$ 14,536.7 Mn by the end of 2033. The market for warehouse management systems is expected to reach US$3,574.5 Mn in 2023. The market for warehouse management systems is projected to grow at a CAGR of 15.4% between 2023 and 2033.
A warehouse management system (WMS) is a piece of software that gives organisations the ability to oversee and coordinate warehouse operations from the point at which goods or materials are received to the point at which they are removed. Warehouses serve as the central storage location for all items utilised or created during the manufacturing and supply chain processes, from raw materials to finished goods.
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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.
Competitive Landscape
Major warehouse management systems mostly include companies that offer software solutions, these companies also have a keen focus on the development of supply chain technology.
- In September 2022, Blue Yonder released two new solutions, one for the digitization of warehousing and other for the micro-fulfillment of the operations that occur in the warehouse. The focus is to deliver superior customer services.
- In September 2022, FourKites had announced the investment of USD 10M from Mitsui & Co., Ltd. to expand FourKites’ warehouse service offerings across the Asia-Pacific region.
Key Players
- Zebra Technologies
- Honeywell International Inc.
- Clearpath Robotics Inc.
- The Raymond Corporation
- Technology Solutions (UK) Ltd.
- SAP
- Zoho Corp.
- Oracle Corporation
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Key Segments of Warehouse Management Systems Market Industry Research
By 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
By Deployment Mode:
- Cloud-based
- On-premise
By Application:
- Inventory Management
- Purchase & Order Management
- Supply Chain Management
- Asset Management
- Others
By Industry:
- Retail & Consumer Goods
- Automotive
- Transport & Logistics
- Healthcare & Pharmaceuticals
- Electrical & Electronics
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
About the Electronics, Semiconductors, and ICT Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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