Global Warehouse Management System Market – Overview
A warehouse management system (WMS) is a software application, designed to support warehouse or distribution center management and staff. WMS applications can be so complex and data intensive that they require a dedicated staff to run them. WMS provides optimization, monitoring and control of complex warehouse and distribution activities such as yard management, dock scheduling, order management, inventory management, and others in an efficient manner.
According to a recent study report published by the Market Research Future, The global Warehouse Management System Market is booming and expected to gain prominence over the forecast period. The Global Warehouse Management System market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, double digit CAGR of 14% during the estimated period (2017 – 2023).
Growing e-commerce sector across the driving the growth of the market. WMS reduces the delivery lead times and errors while processing the orders. Hence, the greater efficiency and productivity while implementing WMS, which strengthens the supplier‐customer relationships. This factor also provide the positive influence on the growth of the market. However, High Implementation Cost of WMS solutions may hamper the growth of the market.
HighJump Software (U.S.), Oracle Corporation (U.S.), Manhattan Associates Inc. (U.S.), Tecsys Inc. (Canada), SAP SE (Germany), JDA Software Group Inc. (U.S.), LogFire Inc. (U.S.), Made4net LLC (U.S.), Softeon Inc.(U.S.), and Synergy Logistics Ltd (U.K.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Warehouse Management System Market.
Global Warehouse Management System Market – Competitive Analysis
Global Warehouse Management System Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Warehouse Management System manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Warehouse Management System for every application.
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In April 2017, Oracle announced a new supply chain cloud functionality that helps businesses master challenging warehouse fulfillment issues in order to help outpace their competition. Version 8 of Oracle Warehouse Management Cloud has the latest functional user experience and integration enhancements that provide a comprehensive view of inventory from supplier to the distribution center (DC) to store shelves.
In September, 2016, Oracle Corp. Business software giant would buy LogFire Inc., a provider of cloud-based warehouse management systems (WMS), to help Oracle complete its portfolio of supply chain management applications in an effort to compete with logistics technology specialists like Manhattan Associates Inc. and JDA Software Group Inc.
Warehouse Management System Market – Segmentation
Global Warehouse Management System Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.
On the basis of service type, market is segmented into Software, Consulting, System integration, and Operations & Maintenance. Software segment dominates service type segment of the market. Increasing awareness of WMS software among small and medium-sized enterprises (SMEs) and the growing adoption of cloud-based WMS software solutions are the factors driving the demand for WMS software.
Based on Application segment the market is segmented into Electronics, Pharmaceutical, Transportation & logistics, Retail, and Others. Others include the Food & beverage, Automotive, and personal care among others. Food & beverage dominates application segment of the market. Rising demand for food & beverages among the consumers, increase the implementation of WMS solutions in the warehousing facilities. Automotive is also another major application of the market. Growing after-sale market for automotive spares, increasing customization in vehicles, and growing need to ensure the availability of various components for automobile manufacturing are propelling the adoption of warehouse management systems in the automotive industry.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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Warehouse Management System Market – Regional Analysis
European region dominates Warehouse Management System Market. The advancement in warehouse management system as well as increasing awareness of cloud based warehouse management systems are some factors driving the growth of this market in European region. North America is another major region for the market. It is expected to contribute significantly during the forecast period.
Asia-Pacific is expected to witness the highest growth during the forecast period. China, India, Japan, Australia and Indonesia are among the major markets for warehouse management systems in the Asia Pacific region. Rapid growth in e-commerce sector as well as demand for extended WMS solutions to support in-store inventory, order management, and cloud integration driving the growth of the market in the region.
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