Press Release / Technology / Warehouse Management System (WMS) Industry: Analysis and Opportunity Assessment 2019-2023

Warehouse Management System (WMS) Industry: Analysis and Opportunity Assessment 2019-2023

Warehouse Management System (WMS) Market Analysis
The global warehouse management system market is predicted to touch USD 2.45 billion at 14% CAGR during the forecast period (2016-2022). A warehouse management system or WMS put merely is a software application that enables organizations in controlling and administering warehouse operations from the moment materials or goods enter the warehouse till they move out. Various operations take place in the warehouse including inventory management, auditing and picking processes. Some of the key features that has increased the demand for WMS include efficient labor collection, optimized processes, improved customer service, fewer picking errors, reduced operational expenses, stock traceability and visibility, automatic replenishment, transparency and visibility, better demand planning, fewer returns and accurate inventory counts.
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There are abundant factors that is propelling the growth of the warehouse management system market. These factors as stated by the Market Research Future (MRFR) report include burgeoning demand for WMS in the healthcare and retail sector, emergence and rapid advancement of the e-commerce sector, development of omni channel fulfillment, rising demand for efficient forecasting models, increased use of on-cloud warehouse management solutions, globalization of the supply chain network and emerging multichannel distribution platforms. On the contrary, expensive implementation cost of WMS, scarcity of business savvy users, lack of standardization, constant requirement for software upgrades, lack of awareness amid small scale industries about WMS, security and data privacy concerns, and enterprise resource planning vendors that are offering similar capabilities in different products are factors that may hamper warehouse management system market growth over the assessment period.
Warehouse Management System (WMS) Market Key Players
Leading players profiled in the warehouse management system market include Made4net LLC (U.S.), Tecsys Inc. (Canada), HighJump Software (U.S.), LogFire Inc. (U.S.), Oracle Corporation (U.S.), Softeon Inc. (U.S.), SAP SE (Germany), JDA Software Group Inc. (U.S.), Manhattan Associates Inc. (U.S.), and Synergy Logistics Ltd (U.K.).
Market Segmentation
MRFR’s segmental analysis of the global warehouse management system has been determined on the basis of service type, application, and regions. Service type has been segmented into software, consulting, system integration, and operations & maintenance.
Applications of warehouse management systems have been segmented to include pharmaceutical, transportation & logistics, retail, electronics, and others. Transportation and logistics is a growing segment due to the rapid growth of the e-commerce sector.
Regions that have been included in the global analysis of the warehouse management system market are Asia Pacific, North America, Europe, and the Rest of the World.
Recent Industry Updates
May 2019- TouchPath, leading international supply chain solutions provider is all set to introduce the latest edition of their TouchWMS warehouse management system that includes multiple new features. The moment any warehouse worker logs into the system through a desktop, mobile terminal or handheld, it will automatically be provided with tasks instructions that are assigned to them. This system will help in tracking the activity of each team member in real time all through their shift and the KPI screen of the system will enable supervisors in spotting bottlenecks and reallocating resources across zones for optimizing shift performance. The new warehouse management system allows item storage types, location and warehouse zoning in being pre-defined, allows picking routes for being optimized and is RFID-enabled to speed order fulfilment of customers.
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Regional Analysis
Among the key regions covered in the report, Europe emerged as the leader with the largest share of the global warehouse management system market. The European market is closely followed by North America. The European market’s advancements in the warehouse management system as well the increasing awareness and deployment of cloud-based warehouse management systems in the European market have driven the region into a top-level position.
Meanwhile, the Asia Pacific has been identified as the fastest growing region in the warehouse management system market. The region is home to heavily populated emerging economies that are witnessing an immense growth in the electronics, retail, pharmaceutical, e-commerce and several other sectors where there is a high demand for warehouse management systems. The APAC includes country-level markets such as India, China, and Japan which lead growth for the regional market.
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