Newark, April 18, 2022 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global warehouse management system market is expected to grow from USD 2.74 Billion in 2020 to USD 11.08 Billion by 2030, at a CAGR of 15% during the forecast period 2021-2030.
Warehouses are at the center of manufacturing and supply chain activities because they hold everything from raw materials to finished items. A warehouse management system (WMS) is designed to help ensure that goods and materials are moved through warehouses in the most efficient and cost-effective manner possible.
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A warehouse management system (WMS) is a software application that helps in the control and management of warehouse operations. WMS software guides inventory receiving and storage, optimises order picking and delivery, and recommends inventory replenishment. A warehouse management system can be used independently or as part of a larger Enterprise Resource Planning (ERP) system. WMS systems are specifically designed to meet the needs of a global supply chain, including distribution, manufacturing, asset-intensive, and service industries.
The rise in the e-commerce business due to the COVID-19 pandemic, globalisation of supply chain networks, emerging multichannel distribution channels, greater usage of cloud WMS solutions, and the rising requirement for efficient forecasting models are all factors contributing to the market’s growth.
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Key players operating in the global warehouse management system market are Manhattan Associates, Inc., Blue Yonder Group, Inc., HighJump (Körber), Oracle Corporation, IBM and SAP among others. To enhance their market position in the global Warehouse Management System market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
• Blujay Solutions Ltd. acquired Expedient Software, a customs software solution supplier in the logistics sector, mainly in New Zealand and Australia, on March 3, 2020. In Asia Pacific, the acquisition …