Increase in implementation of 3PL, rise in growth of e-commerce, improved supplier and customer relationships, and the emergence of SaaS-based on-demand warehouse management systems are expected to propel the growth of the global warehouse management systems market. The market across the Asia-Pacific region is expected to portray the fastest growth, registering a CAGR of 15.8% during the study period.
Portland, July 08, 2019 (GLOBE NEWSWIRE) -- According to the report, the global warehouse management systems market was pegged at $1.33 billion in 2016 and is estimated to reach $3.11 billion by 2022, registering a CAGR of 15.2% from 2016 to 2022. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Rise in implementation of 3PL, improved supplier and customer relationships, and growth in global e-commerce are the major drivers of the global warehouse management systems market. However, costly deployment of warehouse management systems solutions and dominance of ERP vendors hamper the market growth. On the contrary, service-oriented architecture (SOA), the emergence of SaaS-based on-demand WMS solutions, and expanded supply chain execution footprint are expected to create lucrative opportunities in the near future.
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The global warehouse management systems market is segmented on the basis of component type, industry vertical and geography. Based on component type, the market is bifurcated into software and services. The software segment dominated the market in 2016, accounting for more than half of the market. However, the services segment is expected to manifest the fastest CAGR of 16.5% during the forecast period.
On the basis of industry vertical, the market is categorized into automotive, electronics, food & beverage, transportation & logistics, pharmaceutical& others. The transportation & logistics segment held the largest share in 2016, contributing nearly one-fourth of the market. However, the pharmaceuticals segment is projected to register the fastest CAGR of 16.2% through 2022.
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The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the largest share in 2016, garnering nearly one-third of the market. However, the market across the Asia-Pacific region is expected to portray the fastest growth, registering a CAGR of 15.8% during the study period.
The report provides an in-depth analysis of the major market players such as Oracle Corporation, SAP AG SE, Infor Inc., Manhattan Associates Inc., and others. These market players have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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