Smart Warehousing Market worth $40.5 billion by 2028 - Exclusive Report by MarketsandMarkets™

Increased automation, cutting-edge technology, sustainability, and an emphasis on effectiveness and customer happiness will characterise the Smart Warehousing Market in the future. Future supply chain and logistics management will be significantly influenced by smart warehouses

CHICAGO, Sept. 26, 2023 /PRNewswire/ -- The Smart Warehousing Market is projected to grow from USD 20.4 billion in 2023 to USD 40.5 billion by 2028, at a compound annual growth rate (CAGR) of 14.6% during the forecast period, according to a new report by MarketsandMarkets™.  The Smart Warehousing Market is expected to grow significantly during the forecast period, owing to various business drivers like the emergence of multi-channel distribution networks, and the rising focus on green initiatives and sustainability to minimize waste. The dynamic nature and globalization of supply chain networks is also accountable for driving the market's growth.

Browse in-depth TOC on "Smart Warehousing Market"

228 - Tables
58 - Figures
260 - Pages

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Scope of the Report

By services, managed services to register for the highest CAGR during the forecast period

The services segment of the Smart Warehousing Market is growing rapidly. The managed services are vital in properly functioning smart warehousing solutions. Managed services provide all the required skillsets to maintain and upgrade the solutions, which is of utmost importance in the smart warehousing or positioning environment. All client's pre-and post-deployment questions and needs are taken care of through the managed services unit. Organizations mostly outsource such services to offer clients on-time delivery and an enhanced experience.

By technology, Robotics & Automation to register for the highest market size during the forecast period

The Smart Warehousing Market is experiencing a transformative wave driven by Robotics & Automation technologies. The adoption of autonomous robots, such as AGVs (Automated Guided Vehicles) and AMRs (Autonomous Mobile Robots), is streamlining warehouse operations by automating material handling, inventory management, and order fulfillment processes. This not only reduces labor costs but also enhances accuracy and speed, making it a compelling choice for businesses striving to meet the rising e-commerce demands.

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By region, Asia Pacific accounted for highest growth rate during forecast period

Asia Pacific is the fastest-growing region for the Smart Warehousing Market during the forecast period. The growth of the market in this region can be attributed to the tremendous growth of the eCommerce and manufacturing industries in emerging economies such as China, India, and Japan. China is a key contributor to the growth of the Smart Warehousing Market in Asia Pacific owing to its huge industrial and manufacturing sector, whereas India is the fastest-growing market during the forecast year.

Top Key Companies in Smart Warehousing Market:

Some major players in the Smart Warehousing Market include Manhattan Associates (US), Korber (Germany), Oracle (US), SAP (Germany), Tecsys (Canada), PSI Logistics (Germany), PTC (US), Reply (Italy), Infor (US), IBM (US), Blue Yonder (US), Generix Group (France), Microlistics (Australia), ABB (Switzerland), Microsoft (US), Epicor (US), Made4net (US), Mantis (US), Softeon (US), Synergy Logistics (US), E2open (US), Vinculum (India), Mecalux (Spain), SSI Schaefer (US), WareIQ (India), Foysonis (India), Increff (India), Locus Robotics (US), ShipHero (US), Cin7 (US), EasyEcom (India), Unicommerce (India), and IAM Robotics (US).

Recent Developments:

• In August 2023, Manhattan Associates announced PacSun, a leading specialty retailer of emerging youth brands and trending fashion, has selected Manhattan Active Point of Sale to enhance its omnichannel sales strategy and deliver a seamless, unified customer shopping experience.
• In August 2023, Infor announced that Zofri will implement Infor WMS warehouse management system to improve customer service, one of the most important performance indicators in the supply chain. The Infor WMS solution will be deployed in the cloud, which is powered by AWS (Amazon Web Services), and will be implemented by Cerca Technology, Infor's partner in Latin America.
• In May 2023, Manhattan Associates announced its re-imagined Manhattan Active Yard Management solution to expand the company's vision of a unified supply chain. By redesigning yard management to work seamlessly with its industry leading warehouse and transportation management solutions on a single cloud native platform, Manhattan is completing the digital unification of distribution and logistics where they come together in the physical world.
• In March 2023, Raymour & Flanigan, the largest furniture and mattress retailer in the Northeast and seventh largest in the US, partners with Körber to respond more effectively to today's consumer challenges through warehouse improvements pushing for greater order accuracy, speed, and customer fulfilment. This enables Raymour & Flanigan to build upon their long-standing legacy of bringing thoughtfully selected pieces of furniture to the places their customers serve, work and live while enhancing the customer shopping experience.
• In January 2023, Tecsys announced its warehouse-in-a-warehouse e-commerce fulfillment solution enabling retailers and brands to execute e-commerce fulfillment flawlessly while leaving existing wholesale and distribution models and legacy systems largely intact.
• In December 2022, Tecsys and SVT Robotics have partnered to develop and launch an out-of-the-box integrated connection between the Tecsys' Elite supply chain platform and SVT's SOFTBOT Platform. The integration will provide Tecsys Elite customers faster deployment and lower complexity without the need for lengthy custom code development often involved in multi-system automation and robotics deployments.
• In March 2022, Marks & Spencer Reliance India Pvt Ltd (M&S India), a British retailer, and IBM are collaborating to modernize the supply chain, promote connectivity among online and in-store operations, and enhance customer experience. With IBM Sterling Supply Chain Solutions, M&S is expanding its multichannel potential in India.

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Smart Warehousing Market Advantages:

• Real-time inventory tracking provided by smart warehousing solutions helps companies prevent stockouts and overstocking, which saves money.
• Operations can be streamlined, lowering labour costs and errors, by automating tasks like order picking, packing, and inventory replenishment.
• Processes that are automated and driven by technology reduce human error and increase order fulfilment and inventory management accuracy.
• Smart warehousing offers organisations real-time visibility into warehouse operations, assisting them in making decisions and quickly adapting to changes.
• Utilising data analytics, smart warehouse solutions maximise warehouse capacity while lowering storage costs and optimising storage space.
• Predictive analytics and automated workflows hasten order processing and delivery, increasing client happiness.
• Equipment faults are avoided with the use of remote monitoring and predictive maintenance, which decreases downtime and boosts operational effectiveness.
• Energy-saving technology are used in intelligent warehouses to lower energy use and environmental effect.
• Labour, storage, and transportation costs can be lowered by automation, optimisation, and a reduction in errors.

Report Objectives

• To define, describe, and predict the Smart Warehousing Market by offering (hardware, software and services), technology, application, warehouse size, verticals, and region
• To provide detailed information related to major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the market growth
• To analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total market
• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the Smart Warehousing Market
• To analyze opportunities in the market and provide details of the competitive landscape for stakeholders and market leaders
• To forecast the market size of segments for five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
• To profile key players and comprehensively analyze their market rankings and core competencies.
• To analyze competitive developments, such as partnerships, new product launches, and mergers and acquisitions, in the Smart Warehousing Market
• To analyze the impact of recession across all the regions across the Smart Warehousing Market

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