Warehouse Management Systems Market: Future Demand and Growth Analysis with forecast 2024

In 2015, SAP SE and Oracle Corporation jointly accounted for a share of just under 40% in the global warehouse management systems (WMS) market, signaling the high degree of consolidation in this market. Transparency Market Research finds that most companies have been engaged in geographical expansions into emerging markets, especially across Latin America and Asia Pacific, in order to strengthen their foothold in the WMS market.

“WMS players from the developed markets of North America are expanding their operations in emerging markets such as India, Brazil, China, Indonesia, and several European countries, which have been experiencing high growth in the retail applications of warehouse management systems,” the author of the study states.

For instance, in September 2015, Canada-based Tecsys, Inc. expanded its presence in the European market by starting operations in the U.K., Italy, France, Germany, Spain, and Portugal.

The opportunity in the global warehouse management systems market was worth US$1.2 bn in 2015 and is expected to be worth US$4.1 bn by 2024, expanding at a strong 14.1% CAGR from therein.

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Warehouse Management Systems Used Extensively in Third-party Logistics

Accounting for a share of just over 58% in 2015, services formed the leading component segment in the overall warehouse management systems market. At a 15.1% CAGR from 2016 to 2024, this segment is also projected to witness a growth rate higher than the software segment. Between on-premise and cloud-based warehouse management systems, the former accounted for a share of around 77% in 2015. However, cloud-based WMS are likely to witness immense growth during the course of the forecast period.

Based on application, third-party logistics held the leading share in the WMS market in 2015, while the pharmaceutical segment is projected to register a high CAGR from 2016 to 2024. Geographically, Europe held a 43% share in the total revenue generated by the global warehouse management systems market in 2015, generating US$560.7 mn that year. On the other hand, Asia Pacific will register a 17.2% CAGR during the course of the forecast period, emerging as an immensely lucrative regional segment in the warehouse management systems market.

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Asia Pacific Plays Key Role in Expansion of Global WMS Market

In terms of revenue, Europe was the leading regional market for warehouse management systems, accounting for around 43% of revenue share in 2015. The region is expected to retain its dominance in the WMS market throughout the forecast period. This market is primarily driven by the role of third-party logistics. Third-party logistics companies are increasingly adopting warehouse management systems to enhance various functionalities, improve customer relationship experience, and support a cost-effective management system.

The warehouse management systems market in North America is projected to show moderate growth during the forecast period, with the U.S. emerging as one of the most attractive regional segments.

Asia Pacific also plays a key role in the development of the global warehouse management systems market. The WMS market in Asia Pacific is growing at a rapid pace and is expected to maintain its momentum due to the rising demand for extended WMS solutions supporting in-store inventory, cloud integration, and order management along with standard warehouse management system offerings.

The warehouse management systems market in Latin America and the Middle East and Africa is anticipated to witness sustainable growth in the near future. The major factor fuelling these markets is the rising adoption of WMS solutions in retail applications in countries such as Saudi Arabia, Israel, the UAE, and Turkey, where the e-commerce market is expanding substantially.

Some of the prominent players in the global warehouse management systems market are HighJump Software, Tecsys, Inc., Infor Inc., JDA Software Group, Inc., LogFire Inc., Made4net LLC, Manhattan Associates Inc., Oracle Corporation, Reply, SAP SE, Softeon, Inc., and Synergy Logistics Ltd.

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