Transparency Market Research (TMR) notes that the global warehouse management systems market is categorized by the presence of several large and small players operating. The rivalry between the players is likely to increase as they aim at offering cloud-based software management systems.
Among the multiple strategies adopted by players in the global warehouse management systems market to stay ahead of competitors, instantaneous connection to multiple warehouse infrastructure has paid off the most. The global warehouse management systems market is expected to grow steadily due to the existence of large players who are investing in easier inventory management. Some of the leading players in the global warehouse management systems market are Oracle Corporation, JDA Software, Manhattan Associates, and SAP SE.
The TMR report projects the global warehouse management systems market to register a promising CAGR of 14.1% from 2017 to 2025. By the end of 2025, the market will be worth US$4,658.0 mn, predicts the report.
Out of various services, the demand for maintenance is expected to remain high in the next few years due to the constant need for monitoring and controlling various complex warehouse and distribution activities. Region-wise, Asia Pacific is expected to lead the global warehouse management systems market in the coming years. This is attributed to the flourishing software companies and the demand for extended WMS solutions to support cloud integration.
Growing Adoption of BYOD in Various Industries to Fuel Warehouse Management Systems Market
Rapid development of digital technology has resulted in faster adoption of warehouse management systems (WMS) in various applications. WMS helps in optimizing, controlling, and monitoring various distribution activities such as dock scheduling, labor management, yard management, and inventory and order management. Thus, increasing e-commerce industry, growing demand for omni-channel fulfillment, and rising WMS add-on module sales are factors driving the global warehouse management systems market. Along with these, rising adoption of BYOD (Bring Your Own Device) in various industries such as manufacturing, health care, retail, and 3PL is fueling demand for cloud based warehouse management systems, which in turn boosting the global warehouse management systems market.
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Warehouse management systems are extensively adopted in electronics, pharmaceutical, food and beverage, third party logistics, home improvement, and book publishing. Warehouse management can be provided as a service by third-party supplier, which is outsourced by WMS providers. A cloud based computing system helps in hosting the software. Outsourcing this software or service from third party helps the clients in focusing on their core business operations. Furthermore, rising adoption of the latest technologies such as cloud, and increasing disposable incomes are propelling the global warehouse management systems market.
A few challenges hindering the growth of the global warehouse management systems market are lack of standardization, insufficient business savvy users, and expensive warehouse management systems. Nonetheless, rapid technological advancement is expected to help overcome some of these challenges in the near future.