The warehouse management system (WMS) market was valued at USD 2.06 billion in 2018 and is expected to reach USD 4.82 billion by 2024, at a CAGR of 15.2% between 2018 and 2024

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Sep 24, 2018, 18:00 ET

NEW YORK, Sept. 24, 2018 /PRNewswire/ -- Warehouse management system market to exhibit a significant growth between 2018 and 2024

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The warehouse management system (WMS) market was valued at USD 2.06 billion in 2018 and is expected to reach USD 4.82 billion by 2024, at a CAGR of 15.2% between 2018 and 2024. The growth of this market can be attributed to the growth in the e-commerce industry, emerging multichannel distribution channels, globalization of supply chain networks, increased adoption of on-cloud WMS solutions, and rising need for efficient forecasting models. However, factors such as data privacy and security concerns, and high implementation costs of on-premise warehouse management systems for SMEs are restraining market growth.

On-cloud deployment of WMS to witness high growth during forecast period
The market for on-cloud deployment is expected to grow at a high rate from 2018 to 2024.Key factors driving the growth of this market include the rising adoption of cloud services in the manufacturing and logistics industries, along with increased reliability of users on cloud companies.

Benefits such as faster implementation, lower upfront installation and hardware costs, and faster return on investment are among the major factors driving the growth of the market for on-cloud deployment of warehouse management systems.

Warehouse management systems market for services to grow at highest CAGR during forecast period"
The warehouse management system market for services is likely to grow at the highest rate from 2018 to 2024.Need for increased efficiency, constant upgrades to ensure data security, and improved operations of WMS software are the major factors boosting the demand for WMS services.

Services offered by WMS vendors include consulting and installation, testing, maintenance, training, and software upgrades.

APAC to be fastest-growing market for warehouse management systems during forecast period
Among all regions, the market in APAC is expected to grow at the highest rate from 2018 to 2024.The growth of the market in this region is attributed to the huge industrial and manufacturing sector of China.

Secondly, India is the fastest-growing market for WMS in APAC.The launch of "Make in India" initiative has supported the growth of the manufacturing and warehousing sectors in India.

Japan is a developed country and is witnessing a slow but steady growth in the WMS market.Various exhibitions such as CEMAT Asia (2018), Intermodal Asia (2019), LOGMAT China (2019), CEMAT India (2020), India Warehousing & Logistics Show (2019), LOGMAT India (2019), Chemlogistics India (2019), and Logis-Tech Tokyo (2018) aim at bringing together leading international decision makers from the global transport and logistics sectors.

These exhibitions allow warehousing and logistics communities come together to meet, network, and establish business partnerships.

Break-up of profile of primary participants for the report:
• By Company Type – Tier 1 – 47%, Tier 2 – 34%, and Tier 3 – 19%
• By Designation – C-Level Executives – 49%, Directors – 30%, and Others – 21%
• By Region – North America - 54%, Europe – 26%, APAC – 15%, and RoW – 5%

The key players operating in the warehouse management system market are Epicor Software (US), JDA Software (US), Manhattan Associates (US), Oracle (US), SAP (Germany), IBM (US), Infor (US), PSI (Germany), PTC (US), Tecsys (Canada), Blujay Solutions (UK), and HighJump (US), among others.
This global warehouse management system market has been segmented based on offering, deployment, tier type, industry, and region.The WMS market has been divided by deployment into on-cloud and on-premise.

By offering, the WMS market has been split into software and services.Industries that use WMS solutions include 3PL, automotive, food & beverages, healthcare, e-commerce, chemicals, electrical & electronics, metals & machinery, and others.

The WMS market, by geography, has been segmented into 4 regions—North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).

Reasons to Buy the Report:
• Illustrative segmentation, analysis, and forecast for markets based on offering, deployment, tier type, industry, and region have been included to give an overall view of the warehouse management system market.
• The value chain analysis has been performed to provide an in-depth insight into the warehouse management system market.
• Major drivers, restraints, opportunities, and challenges for the warehouse management system market have been detailed in this report.
• The report includes a detailed information on competitive landscape, along with key players, in-depth analysis, and revenue of key players.

Read the full report: https://www.reportlinker.com/p04941013

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