CHICAGO, April 19, 2019 /PRNewswire/ -- According to a new market research report "India Omni-channel and Warehouse Management Systems MarketType (Omni-Channel Solutions and Warehouse Management Systems), Component (Hardware, Software, and Service), Deployment Type (On-Premise and On-Cloud), and Vertical - Forecast to 2024", published by MarketsandMarkets™, the India Omni-channel and Warehouse Management Systems Market size is expected to grow from USD 231 million in 2019 to USD 488 million by 2024, at a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period.
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WMS segment to grow at a higher CAGR during the forecast period
Enterprises are adopting WMS to gain competitive advantage, flexibility, improve just-in-time delivery, increase optimization, and reduce operational expenses. The Indian warehouse management systems market is comparatively less mature than various other countries mainly because of restraints, such as awareness levels, acceptance, and demand for quick Return on Investment (RoI). However, WMS adoption and penetration level are picking up the pace in the Indian market with logistics, industrial, and retail sectors having the highest adoption. Future growth of this market is expected to be driven mainly by eCommerce.
On-cloud segment to grow at a higher CAGR during the forecast period
Retailers are looking forward toward physical strategies to leverage online, as well as offline channels. Having a presence in the offline format, along with digital format, or vice-versa would enable retailers to cross-sell, maximize sales, as well as build customer loyalty by providing brand experience through the personalized stores.
The report also studies various growth strategies, such as mergers and acquisitions, partnerships and collaborations, and developments, adopted by the major players to expand their presence in the market. The major vendors in India omni-channel solutions market include SAP Hybris (Germany), IBM (US), JDA Software (US), Shopify (Canada), ETP International (Singapore), and Infor (US). While the major vendors in India Warehouse Management market include SAP (Germany), JDA Software (US), Infor (US), and Technoforte Software (India).
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