WMS Grows Up
As technology adoption increases and ecommerce continues to grow, companies are looking to smart warehouses to meet customer demands. As a result, warehouse management systems (WMS) are poised to take off.
The WMS market will see a 17.3% compounded annual growth rate—culminating in a market worth more than $51 billion by 2030—predicts an Insight Partners report, Warehouse Management System Market Size, Share, Growth, Trends and Global Forecast to 2030.
WMS solutions are also integral to drop shipping, which many ecommerce retailers use to improve inventory turnover ratios. WMS solutions are able to circumvent order in/order out traffic as a key driver for growth.
The Asia-Pacific region is also expected to see growth in the WMS market due to its emphasis on strengthening logistics infrastructure to improve workflow management.
Although the region is currently experiencing a shortage of warehouse space, 86 million square feet of added warehouse space scheduled to open in 2023 should help ease that burden. This new space will further boost the WMS market, the report predicts.