Dublin, Sept. 26, 2024 (GLOBE NEWSWIRE) -- The "Smart Warehousing - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Smart Warehousing was estimated at US$25.8 Billion in 2023 and is projected to reach US$65.5 Billion by 2030, growing at a CAGR of 14.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the smart warehousing market is driven by several key factors that are transforming the logistics and supply chain landscape. One of the primary drivers is the increasing demand for faster and more efficient order fulfillment, driven by the rise of e-commerce and the growing expectations of consumers for quick and reliable delivery. The need for greater accuracy and efficiency in warehouse operations is also driving the adoption of smart warehousing solutions, as companies seek to reduce errors, minimize labor costs, and optimize inventory management.
Additionally, the growing importance of omnichannel retailing, where companies must manage inventory across multiple sales channels, is fueling the demand for smart warehousing solutions that provide the flexibility and scalability needed to manage complex supply chains. The ongoing advancements in automation, AI, and IoT technologies are further contributing to market growth by enabling more sophisticated and efficient warehouse operations. These factors, combined with the increasing use of smart warehousing solutions by companies of all sizes, are expected to sustain the growth of the market in the coming years.
What Is Smart Warehousing and Why Is It Revolutionizing Supply Chain Management?
Smart warehousing represents a major leap forward in supply chain management, offering a fully automated and interconnected system that optimizes warehouse operations through the integration of advanced technologies. Unlike traditional warehouses, which rely heavily on manual labor and paper-based processes, smart warehouses utilize a combination of Internet of Things (IoT) devices, robotics, artificial intelligence (AI), and data analytics to streamline operations, reduce errors, and improve efficiency.
This technology enables real-time tracking of inventory, automated picking and packing, and predictive maintenance of equipment, among other capabilities. The rise of e-commerce and the increasing demand for faster, more reliable order fulfillment have driven the adoption of smart warehousing solutions, as companies seek to enhance their competitive advantage and meet the growing expectations of consumers.
How Has the Smart Warehousing Market Evolved?
The smart warehousing market has evolved rapidly, driven by the increasing complexity of supply chains and the need for greater efficiency and accuracy in warehouse operations. Initially, the adoption of smart warehousing technologies was limited to large enterprises with the resources to invest in advanced automation systems. However, as the technology has matured and become more affordable, it has gained traction among small and medium-sized enterprises as well.
The rise of cloud computing and the proliferation of IoT devices have further accelerated the adoption of smart warehousing solutions, as these technologies enable real-time data collection and analysis, allowing companies to optimize their operations and make more informed decisions. The growing importance of omnichannel retailing, where companies must manage inventory across multiple sales channels, has also contributed to the growth of the smart warehousing market, as these solutions provide the flexibility and scalability needed to manage complex supply chains.
What Are the Latest Innovations and Applications in Smart Warehousing?
Several emerging trends and innovations are reshaping the smart warehousing market, offering new opportunities for companies to enhance their operations and meet the demands of the modern supply chain. One of the most significant trends is the increasing use of robotics and automation in warehousing, with technologies such as autonomous mobile robots (AMRs) and robotic picking systems becoming more prevalent. These technologies enable faster and more accurate order fulfillment, reducing the reliance on manual labor and minimizing the risk of errors.
Another important innovation is the use of AI and machine learning algorithms to analyze warehouse data and optimize operations, such as by predicting demand, optimizing inventory levels, and improving order accuracy. The integration of smart warehousing with other supply chain technologies, such as transportation management systems (TMS) and enterprise resource planning (ERP) systems, is also becoming more common, providing a more comprehensive view of the supply chain and enabling more coordinated and efficient operations. Additionally, the use of advanced data analytics and predictive maintenance technologies is helping companies to reduce downtime and improve the reliability of their warehouse operations.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Hardware Component segment, which is expected to reach US$31.1 Billion by 2030 with a CAGR of a 12.5%. The Software Component segment is also set to grow at 16.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $6.8 Billion in 2023, and China, forecasted to grow at an impressive 13.4% CAGR to reach $10.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Blue Yonder, Inc., Epicor Software Corporation, Fritz Schaefer GmbH, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 342 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $25.8 Billion |
| Forecasted Market Value (USD) by 2030 | $65.5 Billion |
| Compound Annual Growth Rate | 14.2% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Smart Warehousing - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Integration of IoT and Automation Technologies Propels Growth in Smart Warehousing
- Rising E-commerce and Omnichannel Retail Drives Demand for Smart Warehousing Solutions
- Advancements in Robotics and AI Expand Opportunities in Smart Warehousing
- Demand for Real-Time Inventory Visibility Strengthens Business Case for Smart Warehousing
- Growth in Cold Chain Logistics Propels Adoption of Smart Warehousing Technologies
- Supply Chain Resilience and Risk Management Spur Market Growth in Smart Warehousing
- Sustainability Initiatives and Energy Efficiency Drive Adoption of Green Warehousing Solutions
- Customization and Flexibility in Storage Solutions Expand Addressable Market for Smart Warehousing
- Increased Focus on Warehouse Safety Generates Demand for Smart Solutions
- Cloud-Based Warehouse Management Systems (WMS) Expand Market for Smart Warehousing
FOCUS ON SELECT PLAYERS (Total 39 Featured)
- Blue Yonder, Inc.
- Epicor Software Corporation
- Fritz Schaefer GmbH
- Generix Group
- IBM Corporation
- Infor
- Korber AG
- Made4net
- Manhattan Associates, Inc.
- Microlistics
- Oracle Corporation
- PSI Logistics GmbH
- PTC, Inc.
- Reply S.p.A.
- SAP SE
- Softeon, Inc.
- Tecsys Inc.
- Unicommerce eSolutions Limited
For more information about this report visit https://www.researchandmarkets.com/r/d5vohn
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