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MarketsandMarkets Sees WMS Market at $6.1B by 2026

December 13, 2021

According to the new research report published by MarketsandMarkets, the global Warehouse Management System (WMS) market size is expected to grow from USD 2.8 billion in 2021 to USD 6.1 billion by 2026, at a CAGR of 16.7%. Emerging economies are mainly contributing to the growth of the industry. New manufacturing units are now being set up in developing nations due to the ease of business norms and policies and cheap labor availability. Rising investments in these countries by global multinationals are also a key contributor to the growth of the WMS market.

Software segment to hold the largest share of the warehouse management market in 2021

The software segment is expected to hold a larger market share from 2021 to 2026. Increasing awareness about WMS software among small and mid-sized enterprises (SMEs), the globalization of supply chain networks, and the growing share of cloud-based WMS software solutions are the key factors boosting the demand for WMS software. Further, the rising demand for highly sophisticated warehousing and logistics infrastructure is expected to drive the growth of the WMS market for software. For instance, in May 2020, Manhattan Associates announced a new Manhattan Active warehouse management solution, a cloud-based enterprise-level warehouse management system that combines every aspect of distribution and never needs upgrading. The Manhattan Active WMS is sold in multi-year cloud subscription options and can be operated through a mobile phone, tablet, or desktop. Companies innovating offerings and functionalities are enhancing user experience and improving operational efficiency, which is leading the growth of the WMS software market.

3PL industry to hold the largest share of the warehouse management system market during the forecast period

The 3PL industry is one of the primary drivers of the WMS market. Factors such as the growing need for efficient order management, increased outsourcing of logistics and transportation operations, and the globalization of supply chain networks has fueled the adoption of warehouse management systems in the 3PL industry. The trend of industrial automation has initiated most organizations to focus on the adoption of warehouse automation systems to achieve high operational efficiency and functional capabilities. The leading warehouse management system providers are focusing on the delivery of industry-specific customization in WMS that provides an end-to-end solution, allowing organizations to coordinate their procedures and inventory across their network.

The WMS market for the e-commerce industry is expected to grow at the highest CAGR from 2021 to 2026. Short delivery times, accurate order processing, advanced shipment tracking, and the increasing number of online shoppers are a few of the key factors boosting the adoption of warehouse management systems in this industry.

Bob Bova, President and CEO of AccuSpeechMobile said, "With all the warehouses we are voice enabling and the prospects that we visit, every company is taking a hard, critical look at their WMS/WCS systems. No longer is good enough a passable grade. The Covid supply chain experience has forced everyone to examine how they will mitigate catastrophic and expected changes in the process of business and that if investment is necessary for new WMS software, it needs to be made and done so expeditiously."

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