DUBLIN--(BUSINESS WIRE)--The "Global Smart Warehousing Market - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
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%
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.
Premium Insights
- Proliferation of Smartphones for Faster Goods Management and Emergence of Multi-Channel Distribution Networks to Drive the Growth of the Market
- Labor Management Application to Grow at the Highest CAGR During the Forecast Period
- North America to Hold the Largest Market Share in 2021
- Hardware Component and Inventory Management Application to Account for the Largest Shares in the Market in 2021
Market Dynamics
Drivers
- Proliferation of Smartphones for Faster and Efficient Management of Goods
- Rising Advancement in the Ecommerce Industry due to Onset of the COVID-19 Pandemic
- Emergence of Multi-Channel Distribution Networks
- Dynamic Nature and Globalization of Supply Chain Networks
Restraints
- Lack of Uniform Governance Standards in the Fragmented Supply Chain and Logistics Industry
- Growing Concerns for Data Security and Privacy
- High Implementation and Maintenance Costs for SMEs
Opportunities
- Focus on Warehouse 4.0 for a More Efficient and Safer Warehouse
- Self-Driving Vehicles and Robotics to Automate Warehouse Process
Challenges
- Lack of Awareness About Benefits of Smart Warehousing Among Small-Scale Industries
- Slow Adoption of Smart Warehousing Solutions due to High Capital Investment
- Shortage of Supply and Demand Shocks During COVID-19
Cumulative Growth Analysis
- Smart Warehousing Market: COVID-19 Impact
Case Study Analysis
Transportation and Logistics: Use Cases
- Use Case 1: Tecsys
- Use Case 2: Infor
- Use Case 3: Infor
- Use Case 4: Blue Yondar
- Use Case 5: Blue Yondar
- Use Case 6: Softeon
Retail and Ecommerce: Use Cases
- Use Case 1: Oracle
- Use Case 2: Sap
- Use Case 3: Manhattan
- Use Case 4: Manhattan
- Use Case 5: Tecsys
- Use Case 6: Manhattan
Manufacturing: Use Cases
- Use Case 1: Ptc
Healthcare and Life Sciences: Use Cases
- Use Case 1: Sap
Food and Beverages: Use Cases
- Use Case 1: Sap
- Use Case 2: Reply
It and Telecom: Use Cases
- Use Case 1: Softeon
- Use Case 2: Shiphero
Regulatory Compliances
- General Data Protection Regulation
- Sarbanes-Oxley Act of 2002
- Health Insurance Portability and Accountability Act of 1996
Technology Analysis: Smart Warehousing Market
- Smart Warehousing and IoT Technology
- Smart Warehousing and Artificial Intelligence Technology
- Smart Warehousing and Blockchain Technology
- Smart Warehousing and Rfid Technology
Companies Mentioned
- Oracle
- Sap
- Manhattan Associates
- Psi Logistics
- Ptc
- Tecsys
- Reply
- Ibm
- Infor
- Korber
- Key Players
- Generix
- Microlistics
- Blue Yonder
- Vinculum
- Epicor
- Softeon
- 3Pl Central
- Synergy Logistics
- Blujay Solutions
- Mantis
- Wareiq
- Foysonis
- Logiwa
- Increff
- Locus Robotics
- Shiphero
- Orderhive
- Easyecom
- Unicommerce
- Iam Robotics
For more information about this report visit https://www.researchandmarkets.com/r/uhhdca
