Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=199732421
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 thrive amid todays changing conditions.
The services segment to hold higher CAGR during the forecast period
Based on components, the smart warehousing market is segmented into hardware, solutions and services. The services segment has been further divided into professional and managed services. These services are essential for the successful operation of the warehouse and logistics process. The overall cost of the smart warehousing technology installation depends on the complexity of the application and the type of technology used. It comprises hardware, software, and middleware, and services cost. The services play an important part in the overall smart warehousing implementation process, especially for asset tracking and navigation.
The on-premises segment to hold the larger market size during the forecast period
Deployment mode segment for the smart warehousing market are segmented into cloud and on-premises. On-premises segment to hold larger market share during the forecast period. 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.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=199732421
AI in warehouse segment to account for the highest CAGR during the forecast period
The smart warehousing market is segmented on the basis of the technology, which include IoT and Analytics, AI in warehouse, RFID, Automated Guided Vehicles (AGV), blockchain, and others (AR, security, Wi-Fi, and voice recognition). The AI in warehouse segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing need to enhance the overall productivity with minimal errors. The increasing usage of AI and ML technology with smart warehouse solutions ensures effective inventory process and enhanced route optimization.
The large enterprises segment to hold a larger market size during the forecast period
The smart warehousing market has been segmented by organization size into large enterprises and SMEs. The market for SMEs is expected to register a higher CAGR during the forecast period as cloud-based solutions and services help them improve business performance and enhance productivity. Whereas the large enterprises segment is expected to hold a larger market share in the smart warehousing market during the forecast period. Large enterprises have already started implementing smart warehousing solutions and are focusing on implementing advanced technologies for managing the overall supply chain management process across channels. The availability of smart warehousing technologies such as RFID, IoT and analytics, and AI will enable large enterprises to handle complex inventory processes.
Healthcare and life sciences vertical is to have the highest CAGR during the forecast period
The healthcare and life sciences vertical is expected to grow at the highest CAGR in the smart warehousing market during the forecast period. The traceability and proper scanning of items for genuineness and preventing counterfeiting encourage healthcare companies to improve their warehousing practices. With the help of smart warehousing solutions, healthcare companies can efficiently handle their warehousing activities to enhance productivity.
North America to hold the largest market share 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.
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).
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarketss flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
