The global warehouse management system market will see growth of 15% from 2021-2030, according to a report issued on April 18, by The Brainy Insights. Translated to dollars this means that the market will grow from $2.74 billion in 2022 to $11.08 by 2030.
The rise in the e-commerce business due to the COVID-19 pandemic, globalization of supply chain networks, emerging multichannel distribution channels, greater usage of cloud WMS solutions, and the rising requirement for efficient forecasting models are all factors contributing to the market's growth.
The services segment is expected to grow at a faster rate over the forecast period. The component segment is divided into services and software. During the forecast period, services are expected to grow at a faster rate. The primary factors linked to the segment's growth include a significant increase in third-party inventory management services because of enterprises' insufficient warehouse capacity. Furthermore, these services strive to circulate demand from a variety of small and medium-sized businesses.
The cloud segment is expected to grow at the fastest CAGR during the forecast period. The deployment segment is divided into cloud and on-premise. The cloud segment is expected to grow at the fastest CAGR during the forecast period. In comparison to cloud-based technologies, the upfront expenditures and ownership of operating an on-premise server are extremely high. Furthermore, as compared to cloud-based solutions, on-premise solutions have a complex and time-consuming deployment process.
The systems integration & maintenance segment dominated the market, accounting for around 30% of global revenue with a market value of around 0.82 billion. The function segment is divided into analytics & optimization, labor management system, billing & yard management, consulting services, systems integration & maintenance. In 2020, the systems integration & maintenance segment dominated the market, accounting for around 30% of global revenue with a market value of around 0.82 billion. WMS performs functions such as inventory receiving and holding, order picking and delivery optimization, and inventory replenishment guidance.
The manufacturing segment had the highest revenue share of almost 26% in 2020. The application segment is divided into retail, manufacturing, healthcare, food & beverage, transportation & logistics others. In 2020, the manufacturing segment had the highest revenue share of almost 26%. Initially, industrial organizations integrated their ERP and WMS systems. To achieve full control of the supply chain, they are also integrating their logistics and transport management systems. In addition, cloud-based technology is improving supply chain management efficiency and performance in the manufacturing sector