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 market of Warehouse Management System 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.
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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.
Market Research Analysis
The market is highly application based. The factors contributing to the growth of the warehouse management system market are, continuously growing end-use industries such as retail, logistics, electronics & others, and emergence of e-commerce and Omni-channel fulfillment requirements. The market is expected to have a higher growth rate as compared to the previous years. Europe is the largest region for the warehouse management system market.
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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.
Asia-Pacific is the fastest growing region
On the basis of region, warehouse management system is segmented as North America, Europe, Asia-Pacific and Rest of the world. Europe held the largest share of warehouse management system (WMS) market whereas Asia-Pacific is the fastest growing region. Rapid growth in healthcare, automotive, electronics and other sector with rising demand of warehouse management solutions is one of the vital factor that driving the growth of this market in APAC region. Rapid growth of e-commerce as well as high technological investment in countries like China, japan, and India is also fueling the growth of this market.
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