Warehouse Management System Market to Garner $51,360.23 million, Globally, by 2028 at 17.3% CAGR: The Insight Partners

Increasing Revenue of the E-commerce Industry to Offer Growth Opportunities for Warehouse Management System Market

NEW YORK, UNITED STATES, April 13, 2023 /EINPresswire.com/ -- According to our latest market study, titled "Warehouse Management System Market Forecast to 2028 –Global Analysis – by Component, Tier Type, and Industry," the market is expected to grow from US$ 14,517.07 million in 2022 to reach US$ 51,360.23 million by 2030; it is anticipated to register a CAGR of 17.3% from 2023 to 2030.

Report Coverage - Warehouse Management System Market

Report Coverage Details
Market Size Value in US$ 14,517.07 million in 2022
Market Size Value by US$ 51,360.23 million by 2030
Growth rate CAGR of 17.3% from 2023 to 2030
Forecast Period 2023-2030
Base Year 2022
No. of Pages 208
No. of Tables 137
No. of Charts & Figures 91
Historical data available Yes
Segments Covered Component, Tier Type, Industry, and Geography

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The rise in the adoption of automation in the US is a major factor driving the sales of warehouse management systems in North America. In 2020, Radwell International, Inc. constructed a new 86,000-square-foot automated distribution center in its Texas branch. They introduced AutoStore solution with Swisslog’s SynQ software in their distribution center. This automated solution helped the company improve material flow and automation control system functionality with the assistance of robots and warehouse management system software. In addition, the rising adoption of the cloud among enterprises across North America to optimize their business process contributes to the demand for WMS, and therefore fueling the warehouse management system market.

The countries in the MEA are witnessing growth in the warehouse management system market size owing to the growing adoption of technologies. Increasing cloud adoption in the region and the growing launch of new warehouses are contributing to the rising demand for warehouse management systems in the region. In SAM, there is a rise in the opening of new warehouses in the region, which is further increasing the demand for warehouse management systems. For instance, in September 2022, Maersk opened a new 350,000-square-meter warehouse in Brazil. Opening of new warehouses would assist in propelling the growth of the warehouse management system market.

Businesses in the MEA have found it crucial to benchmark their operations against world-class warehouse management practices. Moreover, according to Turner & Townsend, the demand for consumer goods rose in the Middle East in 2021, which strongly relied on logistics activities. The strong e-commerce sales in the UAE are propelling the need for warehousing in the country. Under Vision 2030, Saudi Arabia is investing heavily in the logistics sector, which will hold 30% of the country’s economy by 2030. Thus, the rising initiatives and e-commerce sales in MEA countries will propel the need for WMS, contributing to the warehouse management system market growth during the forecast period.

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Key Findings of Market Study

The rise of e-commerce and retail sectors within the UAE has given a major boost to launching new distribution and warehousing facilities. For instance, in January 2023, AD Ports Group partnered with Ghassan Aboud Group to launch a 3.3 square kilometer wholesale food trading and logistics hub in KIZAD. This “Regional Food Hub - Abu Dhabi” will use all advanced technologies for automation to ensure the business is running efficiently and successfully. Thus, the development of the e-commerce sector and the new installation of wholesale hubs in the UAE are fueling the warehouse management system market growth. Moreover, the presence of warehouse management system providers such as PACT Business Solutions across the UAE is propelling the warehouse management system market size.

The Rest of the MEA warehouse management system market includes countries such as Qatar, Egypt, Turkey, and Kenya. There is a rise in the launch of new warehouses across various countries in the MEA. For instance, according to Transport and Logistics, in December 2022, GAC Qatar, in partnership with Qatar Free Zones Authority (QFZA), opened a new, sustainably built 27,000-meter square logistics facility in Qatar. By expanding the company’s infrastructure, the company will provide better customer services in local and international markets. Moreover, the Egypt e-commerce market is rising due to the large population of over 100 million people and a high number of internet users. Thus, enterprises choose logistics providers such as Aramax and DHL for warehousing solutions, which further increases the warehouse management system market. Furthermore, according to PeoplActive, in December 2022, cloud computing in Turkey boosted due to the rollout of 5G with rising internet usage. Thus, rise in the adoption of cloud services by companies in Turkey will propel the demand for warehouse management systems. 

Warehouse Management System Market Analysis: Competitive Landscape and Key Developments

International Business Machines Corp, SAP SE, Epicor Software Corp, Softeon Inc, Oracle Corp, Panasonic Holdings Corp, Infor Inc, Manhattan Associates Inc, PTC Inc, and Tecsys Inc. are among the key warehouse management system market players profiled in this market study. Several other essential warehouse management system market players were studied and analyzed to get a holistic view of the market size and its ecosystem.

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