New York, According to a new market research report published by Global Insight Services “Smart Warehousing Market” is expected to grow by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Smart warehousing is a system that uses technology to manage the flow of goods in a warehouse. This includes tracking inventory levels, managing stock locations, and optimizing the order in which products are picked and shipped. The goal of smart warehousing is to improve efficiency and accuracy in the warehouse, while reducing costs.
Key Trends
There are four key trends in Smart Warehousing technology:
1. Automation: Automation is increasingly being used in warehouses to improve efficiency and accuracy. This includes the use of robots for tasks such as picking and packing orders, as well as the use of conveyor belts and other automated systems for moving goods around the warehouse.
2. Data analytics: Data analytics is being used more and more to improve warehouse operations. By analyzing data on things like order patterns and stock levels, warehouses can optimize their stock management and order fulfillment processes.
3. IoT: The Internet of Things is starting to have a big impact on warehouses, with various sensors and devices being used to monitor and manage operations. This includes things like RFID tags to track inventory, as well as temperature and humidity sensors to keep goods in the right condition.
4. Virtual reality: Virtual reality is being used in warehouses for things like training staff and planning layouts. This can help to improve efficiency and safety, as well as reducing the need for physical space.
Key Drivers
The key drivers of Smart Warehousing market are:
1. Increasing e-commerce sales: The growth of e-commerce sales is one of the key drivers of the smart warehouse market. With the increasing popularity of online shopping, there is a growing demand for efficient and effective warehousing and logistics solutions that can handle the large volumes of orders.
2. Increasing need for efficient supply chain management: The need for efficient supply chain management is another key driver of the smart warehouse market. In today’s highly competitive business environment, companies are under pressure to optimize their supply chains and reduce costs. As a result, they are increasingly turning to smart warehouse solutions that can help them streamline their operations and improve their bottom line.
3. Rising labor costs: Rising labor costs are also driving the smart warehouse market. With the increasing cost of labor, companies are looking for ways to automate their warehouse operations to reduce their dependence on manual labor. Smart warehouse solutions can help companies achieve this by automating various tasks such as picking, packing, and shipping.
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Market Segmentation
The market is segmented by component, deployment, organizational size and region. By component the market is divided into hardware, solutions and services. By deployment, the market tis classified into cloud and on-premises. By organizational size the market is divided into SME’s and Large Enterprises. By region the market is divided into North America, Europe, Asia-Pacific and rest of the world.
Key Players
The key players in the market are IBM Corporation, Oracle Corporation, SAP SE, Infor, Inc., Softeon, Körber AG, Manhattan Associates, Inc., PTC, Inc., Tecsys, Inc. and Epicor Software Corporation.
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Reasons to buy Smart Warehousing Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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