Global Smart Warehousing Market 2023-2030

Global Smart Warehousing Market 2023-2030

Global Smart WarehousingMarket Size, Share & Trends Analysis Report Market by Offering (Hardware, and Software & Services), by Technology (Artificial Intelligence (AI) and Analytics, Robotics and Automation, Internet-of-Things (IOT), and Others), by Application (Inventory management, Order management, Transportation management, Predictive analysis, and Others), and by Vertical (Retail & E-Commerce, Transportation & Logistics, Manufacturing, Food & Beverage, Healthcare, and Others) Forecast Period (2023-2030)

The global smart warehousing market is anticipated to grow at a considerable CAGR of 12.3% during the forecast period. Smart warehousing is a data-driven environment that uses automated and interconnected technologies to receive, sort, organize, and prepare goods for shipment. The increasing dependency and demand for various e-commerce websites is one of the major factors driving the market growth. E-commerce customers expect to receive their orders quickly and accurately. Smart warehousing solutions helps businesses to deliver the product without any damage or delay. By automating tasks such as picking, packing, and shipping. E-commerce businesses are constantly looking for ways to reduce costs. Smart warehousing solutions can help businesses to reduce costs by automating tasks, reducing labor costs, and improving inventory management. The global e-commerce sales are expected to reach about a mark of $7.4 trillion by the year 2025.

WMS software can help e-commerce businesses to track inventory levels, manage orders, and optimize the picking and packing process. This can help businesses to improve efficiency and reduce costs.Autonomous mobile robots (AMRs) can transport inventory items around the warehouse without human intervention, which can help to reduce labor costs and improve efficiency. AS/RS systems are used to store and retrieve inventory items from high-density storage racks. AS/RS systems are often used in conjunction with AMRs to automate the picking and packing process.

Segmental Outlook

The global smart warehousing market is segmented based on offering, technology, application, and vertical. Based on the offering, the market is sub-segmented into hardware and softwareFd services. Based on technology, the market is sub-segmented into ai and analytics, robotics and automation, iot, and others (ar/vr). Based on application, the market is sub-segmented into inventory management, order management, transportation management, predictive analysis, and others (shipping management). Based on vertical, the market is sub-segmented into retail & e-commerce, transportation & logistics, manufacturing, food and beverage, healthcare, and others (automotive, consumer products).

The Software offering Segment showed a major market share for the Smart Warehousing market

The software segment has the largest market share in the global smart warehousing market. This is because software is essential for managing and optimizing smart warehousing operations. Software includes warehouse management systems (WMS), transportation management systems (TMS), and order management systems (OMS). The segment is expected to grow in the future as well because businesses are increasingly investing in software to improve the efficiency and accuracy of their warehouse operations. For instance, Amazon uses WMS software to track inventory levels, manage orders, and optimize the picking and packing process. Amazon's WMS software is essential for the company's ability to quickly and efficiently fulfill orders. Amazon's WMS software helps the company to reduce picking errors, improve order fulfillment times, reduce inventory costs, and improve customer satisfaction.

Regional outlooks

The global Smart Warehousingmarket is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, North America has the largest market share in the entire globe. This is due to the high adoption of e-commerce and also the increase in demand for the improvement of supply chain efficiency.

Europe to contribute the market Share in the Global Market

Europe has the second largest market share in the global market and is growing at a steady pace to have one the largest market share globally. This growth is because of the strong presence of manufacturing and logistics industries. The region is increasingly looking for ways to improve the efficiency of its supply chains. Smart warehousing technology can help manufacturers to improve the efficiency of their picking, packing, and shipping operations. Europe also has a growing e-commerce sector, and e-commerce businesses in Europe need to be able to quickly and efficiently fulfill orders.

Market Players Outlook

The major companies serving the global Smart Warehousing market include ABB Ltd., Honeywell International Inc., Rockwell Automation Inc., Schneider Electric, Siemens AG among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in October 2020 Microsoft partnered with Honeywell to develop new smart warehousing solutions for manufacturing and logistics companies. This merger was to simplify the supply chain management.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global Smart Warehousing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.