Warehouse Management System Market to Garner $3,112 Million, Globally by 2022
A new report published by Allied Market Research titled, "Global Warehouse Management System Market by Component Type, Industry Vertical, and Geography - Global Opportunity Analysis and Industry Forecasts, 2014 - 2022," projects the warehouse management system (WMS) market size to reach $3,112 million by 2022, growing at a CAGR of 15.2% from 2016 to 2022. This can be attributed to the increase in inventory and workload of WMS in warehouse operations. Europe is expected to be the largest market during the forecast period.
By component type, software held the highest market share in 2015, and services is anticipated to show the highest growth rate. Among the various industry verticals, transportation & logistics is projected to dominate the market. However, pharmaceuticals industry is expected to have the fastest growth rate.
"The European market is most productive as compared to others with diverse industry verticals implementing WMS at a greater extent. Furthermore, it is projected to generate the highest market revenue over the forecast period with predominant deployments in the transportation & logistics industry," states Seapee Bajaj, Lead Analyst, Construction & Manufacturing at AMR.
Asia-Pacific is estimated to grow fastest due to increase in the adoption of WMS services and extensive growth in Japan, China, Australia, and India.
Key findings of the study:
- Software is expected to exhibit a significant growth in the WMS market due to growth in adoption of this technology in the logistics industry.
- Transportation & logistics industry generated the highest revenue among other industry verticals pertaining to increase in adoption of WMS.
- Europe is projected to exhibit a substantial growth during the forecast period.
- Several industry players adopt partnership and product launch as their key strategies to offer innovative products and services & solutions to attain a higher market share.
The dominant players include Oracle Corporation, SAP SE, Infor Inc., and Manhattan Associates Inc., and others.