The global smart warehousing market size to grow from USD 14.8 billion in 2021 to USD 25.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.5% during the forecast period. Various factors such as the proliferation of smartphones for faster goods management, the rising advancement in the eCommerce industry due to the onset of the COVID-19 pandemic, the emergence of multi-channel distribution networks, and the dynamic nature and globalization of supply chain networks are expected to drive the growth of smart warehousing market. The COVID-19 pandemic disrupted global supply chains has overtaken and impacted both supply and demand at a higher pace.But the impact of COVID on the warehouse is going to have long and lasting effects.
As the virus spreads throughout the world, there is an outbreak or transportation delay in one part of the world that would have a devastating impact across the globe, causing shutdowns due to warehouse closures or missing or delayed supplies.At the warehouse, some organizations were left with excess inventory they could not ship sitting in inventory and few other firms were at a standstill as they waited to receive inventory at their depleted warehouse.
Some industries witnessed unprecedented demand while other industries saw the demand fall, leading to a negative impact on the overall smart warehousing market. Post COVID-19, warehouse and supply chain sectors have adopted and implemented automation technologies, such as Assisted Guided Vehicles (AGV), forklift automation, robotics, and smart sorting to enable businesses to drive the growth of smart warehousing market.
The on-premises segment to have the larger market size during the forecast period
Smart warehousing market is segmented on the basis of deployment mode.The on-premises segment is expected to hold a larger market size during the forecast period. Highly secure data encryption, complete data visibility, and control features are the key factors encouraging the adoption of on-premises-based smart warehousing solutions. Highly secure data encryption and the complete data visibility and control feature boost the adoption of on-premises-based smart warehousing solutions across verticals, such as retail and eCommerce, transportation and logistics, and manufacturing, to have better and efficient warehouse operations.
The SMEs segment to hold higher CAGR during the forecast period On the basis of organization size the smart warehousing market has been segmented into large enterprises and SMEs.The SMEs segment is projected to register a higher CAGR during the forecast period due to the growing need to enhance business processes, reach new customers, and stay competitive and control their spending.
Verticals’ focus on adopting technologically advanced solutions and processes at a lower cost would drive the adoption of smart warehousing solutions and services among SMEs.
Among regions, North America to hold higher CAGR during the forecast period North America is estimated to have the largest market size in 2021, followed by Europe; this growth can be attributed to the technological upgrades in these regions.Being an early adopter of technologies, North America is an innovation hub and is expected to present strong opportunities for smart warehousing vendors to expand in this market.
However, APAC is projected to grow at the highest Compound Annual Growth Rate (CAGR) due to the rapid rise in technology adoption across verticals to enhance customer experience and productivity.The adoption of smart warehousing hardware, solutions, and services is expected to rise in MEA and Latin America due to the growing demand for automating warehouse processes for improved productivity, efficiency, and accuracy.
The smart warehouse solutions that are implemented provide flexibility and enhance the capability of employees.
Breakdown of primaries In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the Indoor location market. • By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23% • By Designation: C-Level Executives: 50%, D-Level Executives: 30%, and Managers: 20% • By Region: APAC: 30%, Europe: 30%, North America: 25%, MEA: 10%, Latin America: 5%
The report includes the study of key players offering smart warehousing market. The major vendors covered are Oracle ( US), SAP (Germany), Manhattan (US), PSI Logistics (Germany), PTC (US), Tecsys (Canada), Reply (Italy), IBM (US), Infor (US), Korber (Germany), Generic (France), Microlistics (Australia), Blue Yonder (US), Vinculum (India), Epicor (US), Softeon (US), 3PL Central (US), Synergy Logistics (US), BlueJay Solutions (US), Mantis (US), WareIQ (India), Foysonis (US), Logiwa (US), Increff (India), Locus Robotics (US), ShipHero (US), Orderhive US), EasyEcom (India), Unicommerce (India), and IAM Robotics (US).
Research Coverage The research study for the smart warehousing market involved extensive secondary sources, directories, and several journals, including the International Journal of Operations & Production Management, and the International Journal of Production Research.Primary sources were industry experts from the core and related industries, preferred smart warehousing providers, third-party service providers, consulting service providers, end users, and other commercial enterprises.
In-depth interviews were conducted with various primary respondents, including key industry participants and subject matter experts, to obtain and verify critical qualitative and quantitative information, and assess the market’s prospects.
Key Benefits of Buying the Report The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall smart warehousing market and its subsegments.It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies.
It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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