Warehouse Management System Market is expected to reach US$ 51,360.23 million by 2030

PRESS RELEASE BY The Insight Partners 03 Mar 2023

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

According to our latest study, titled "Warehouse Management System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Tier Type, and Industry," the market is expected to grow from US$ 14,517.07 million in 2022 to US$ 51,360.23 million by 2030; it is estimated to register a CAGR of 17.3% from 2023 to 2030.

E-commerce is highly competitive, and online businesses rely on efficient warehousing to support future growth. In addition, e-commerce businesses have many operational expenses, the primary two being inventory holding and operations costs. Also, companies in this industry increase profit margins by integrating a warehouse management system (WMS) that improves warehouse performance. For example, many online retailers must accelerate order fulfillment and shipping to maintain their competitive position. Organizations are working to gain greater control and transparency across their supply chains to keep up with demand and move items into and out of the warehouse at the rapid pace required within the industry. In April 2021, Honeywell International Inc. launched a new software-as-a-service offering of its WMS for warehouses, distribution centers, and e-commerce fulfillment centers in Southeast Asia. In addition, the scalable and cloud-based WMS is designed to plug and play with marketplaces integrated with existing systems and connected to top e-commerce platforms and courier services in the region. Furthermore, retailers often need to interconnect functions across multiple locations, including brick-and-mortar stores, websites, and mobile apps. All data from these diverse sources must be compiled in a common enterprise resource planning system and integrated into warehouse management systems to provide full visibility into inventory levels and shipping requirements. As a result, rapid growth in the e-commerce sector is fueling the demand for WMS solutions globally and therefore the overall warehouse management system market growth.

Warehouse Management System Market Share – by Geography, 2022

Warehouse Management System Market Share – by Geography, 2022

Warehouse Management System Market Size & Share Report 2030

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Warehouse Management System Market Forecast to 2030 - COVID-19 Impact and Global Analysis By Component (Hardware, Software, and Services); Tier Type (Advance [Tier 1], Intermediate [Tier 2], and Basic [Tier 3]); Industry (Manufacturing, Automotive, Food and Beverage, Electrical and Electronics, Healthcare, Retail and E-commerce, and Others); and Geography

Source: The Insight Partners Analysis

The South America warehouse management system market size is segmented into Brazil, Argentina, and the Rest of South America. The e-commerce boom in South America is changing how companies serve their customers. Brazil is a driving force in South America’s economy and economic trends, one major trend being e-commerce. The Brazil e-commerce industry rose by 31% in the first six months of 2021 compared to the first six months of 2020. In addition, the total number of orders increased by 7.4%. Thus the rising e-commerce sector contributes to the increase in the need for warehousing, propelling the demand for WMS, and fueling the warehouse management system market size.

There is rising demand for automation in South America to reduce attractive labor costs. While this growth is creating excitement among the region’s executives, it is also presenting them with new challenges. Today, there is special pressure on businesses in South America to adopt leading-edge supply chain practices and tools to collaborate with their new global partners, compete successfully in international markets, and increase profitability.

Impact of COVID-19 Pandemic on South America Warehouse Management System Market Growth

The COVID-19 pandemic undoubtedly complicated and disrupted the supply chain and other business operations in the region. Moreover, the COVID-19 pandemic severely affected automotive and food & beverage sectors in South America. The WMS solutions help increase efficiency within the warehouse by standardizing inventory movements, picking methods, and inventory locations while lowering error rates and training costs. The manufacturing industry in the region is very niche and is majorly based in Brazil and Chile. However, the industry in both countries was severely affected by the emergence of the COVID-19 pandemic, resulting in a massive disruption in the supply chain of products. Also, the restriction on human movement in and around manufacturing and automotive facilities resulted in a slow production rate in 2020. Both of these factors increased the adoption of warehouse management systems to overcome the challenges caused by the COVID-19 pandemic. The region's warehouse management system market is set to grow at a decent pace. The development of the warehouse management system market growth in this region can be attributed to the tremendous growth of the e-commerce and manufacturing industries, as companies in these sectors are learning to synchronize material movement between the warehouse, production, and other operations, such as quality and regulatory compliance processes.

The warehouse management system market is segmented based on component, tier type, industry, and geography. Based on component, the market is segmented into hardware, software, and services. Based on tier type, the market is segmented into advance (tier 1), intermediate (tier 2), and basic (tier 3). Based on industry, the market is segmented into manufacturing, automotive, food & beverages, electrical & electronics, healthcare, retail and e-commerce, and others. Based on geography, the warehouse management system market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

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 the key warehouse management system market players profiled in the study of the warehouse management system market. Several other important warehouse management system market players were studied and analyzed during the course of this study to get a holistic view of the market and its ecosystem.

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