Pune, Dec. 07, 2024 (GLOBE NEWSWIRE) — Smart Warehousing Market Size Analysis:
“Based on SNS Insider’s latest market research, the valuation for the Smart Warehousing Market was USD 22.7 billion in 2023 and it is expected to reach USD 75.7 billion by 2032 with a massive compound annual growth rate (CAGR) of 14.3% during the forecast period 2023-2032.”
The growth in e-commerce activities and the need for effective inventory management systems are the key drivers of the smart warehousing market.
As the demand for faster, more precision-based, and competitive operations rises, automated solutions are replacing traditional warehousing systems. Smart warehouses that use robotics, IoT sensors, artificial intelligence (AI), and data analytics, enable better operational efficiencies, decreased errors, and improved safety protocols. Leveraging IoT technologies enables warehouses to track inventory, equipment, and shipments in real time, providing invaluable information to warehouses to create insights into how well the supply chain performs. Furthermore, the transition to Industry 4.0 which is driven more by automation and data has driven the need for smart warehousing solutions to increase the speed of warehousing with better accuracy across different sectors. The need to improve labour costs and operational inefficiencies is pushing businesses towards automated solutions to warehouse operations.
Furthermore, the requirement for interoperability between various components of the source chain is driving the rise of sophisticated warehousing systems. Smart warehouses provide visibility into inventory, warehouse operations, and customer demand at the right time to help businesses manage stock, reduce inventory holding costs, and improve the overall customer experience.
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Major Players Analysis Listed in this Report are:
- 3PL Central (3PL Warehouse Manager, 3PL Billing)
- Blue Jay Solutions (Blue Jay WMS, Blue Jay Transportation Management)
- Blue Yonder (Luminate Control Tower, Warehouse Management System)
- EasyEcom (EasyEcom WMS, EasyEcom Multichannel Inventory Management)
- Epicor (Epicor ERP, Epicor Advanced Warehouse Management)
- Foysonis (Foysonis WMS, Foysonis Inventory Management)
- Generix (Generix WMS, Generix Supply Chain Management)
- IBM (IBM Sterling Supply Chain Insights, IBM Maximo)
- Increff (Increff Warehouse Management System, Increff Inventory Management)
- Infor (Infor CloudSuite WMS, Infor Supply Chain Management)
- Korber (Korber Warehouse Management System, Korber Logistics Software)
- Locus Robotics (Locus Solution, Locus Fleet Management)
- Manhattan Associates (Manhattan WMS, Manhattan Active Omni)
- Mantis (Mantis WMS, Mantis Inventory Management)
- Microlistics (Microlistics WMS, Microlistics Inventory Control)
- Oracle (Oracle Warehouse Management Cloud, Oracle SCM Cloud)
- PSI Logistics (PSI Logistics Software, PSI WMS)
- ShipHero (ShipHero WMS, ShipHero Fulfillment)
- Softeon (Softeon WMS, Softeon Distributed Order Management)
- Tecsys (Tecsys WMS, Tecsys Supply Chain Management)
Smart Warehousing Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 22.72 Billion |
| Market Size by 2032 | USD 75.7 Billion |
| CAGR | CAGR of 14.3 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • The increase in demand for smartphones as a rapid and effective means of managing operations
• Increasing focus on Reducing the cost of warehousing and use of low manpower |
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Segment Analysis
By Component
In 2023, the Solutions segment dominated the smart warehousing market with a share of approximately 45%, as reported by US News. This part encompasses hardware and software solutions that offer automation, data analytics, and real-time monitoring. Hardware solutions, such as automated guided vehicles (AGVs), robots, sensors, and conveyors, allow for faster and more efficient material handling. Software solutions, on the other hand, enable data analytics, predictive maintenance, inventory tracking, and enhanced decision-making processes, driving significant demand in the market.
By Organization Size
In 2023, the Large Enterprises segment dominated the smart warehousing market, holding a market share of approximately 60%. Large enterprises, particularly in industries like e-commerce, logistics, and manufacturing, have the capital and resources to invest in cutting-edge automation and warehousing technologies. The need for large-scale inventory management, efficient order fulfillment, and scalability has led to increased investments in smart warehousing solutions among these organizations.
On the other hand, small and medium-sized enterprises (SMEs) are gradually adopting smart warehousing solutions as the costs associated with these technologies decrease and the availability of affordable solutions increases. As a result, the adoption of smart warehousing technologies among SMEs is expected to grow in the coming years, contributing to the market’s expansion.
By End-Use Industry
The Smart Warehousing market share is led by the Transportation and Logistics segment, which accounted for around 30% of the market in 2023. As the backbone of global supply chains, the transportation and logistics industry has recognized the significant value of smart warehousing solutions in improving efficiency, reducing lead times, and ensuring timely deliveries. As the demand for speedier shipping continues to skyrocket, and as omnichannel retail continues to grow, automation is becoming more important in warehouses equipped to handle large volumes of small orders turned around quickly.
Smart Warehousing Market Segmentation:
By Component
- Hardware
- Solutions
- Services
By Deployment Mode
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
By Technology
- IoT and Analytics
- AI in Warehouse
- Automated Guided Vehicles (AGV)
- RFID
- Blockchain in Warehouse
- Others
By Application
- Transport Management
- Inventory Management
- Order Management
- Shipping Management
- Others
By End-use Industry
- Transportation and Logistics
- Retail and E-commerce
- Food and Beverages
- Manufacturing
- Healthcare
- Others
Regional Analysis
In 2023, North America dominated the smart warehousing market, with a market share of around 40%. The U.S., in particular, has seen significant investment in automation and robotics technologies, making it a leader in the adoption of smart warehousing solutions. The presence of leading players like Amazon, Walmart, and FedEx, coupled with favorable government policies promoting automation and technological innovation, has further accelerated market growth in this region. The Europe region is also witnessing steady growth in the market, driven by technological advancements in automation and robotics. The adoption of smart warehousing solutions in countries like Germany, the UK, and France is expected to increase due to the growing demand for efficient logistics and inventory management systems.
The Asia-Pacific region is projected to witness the fastest growth in the smart warehousing market over the forecast period from 2024 to 2032. The rising adoption of IoT, AI, and robotics in countries like China, India, and Japan, along with the increasing demand for efficient logistics solutions, is driving the rapid expansion of the smart warehousing market in the region. Moreover, the significant growth of e-commerce in Asia-Pacific, coupled with a booming manufacturing sector, creates ample opportunities for smart warehousing solutions to thrive.
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Recent Developments
- In April 2023, Swisslog, a leading automation and robotics solutions provider, launched its next-generation automated storage and retrieval system (ASRS) designed to enhance efficiency in warehouses by reducing labor requirements and optimizing space utilization.
- In June 2023, Zebra Technologies unveiled an advanced AI-powered warehouse management solution that provides real-time data analytics, predictive maintenance, and enhanced visibility for warehouse operations, helping businesses improve operational performance and reduce costs.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Smart Warehousing Market Segmentation, By Component
8. Smart Warehousing Market Segmentation, By Deployment Mode
9. Smart Warehousing Market Segmentation, By Organization Size
10. Smart Warehousing Market Segmentation, By Technology
11. Smart Warehousing Market Segmentation, By Application
12. Smart Warehousing Market Segmentation, By End-use Industry
13. Regional Analysis
14. Company Profile0s
15. Use Cases and Best Practices
16. Conclusion
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