The warehouse management system (WMS) market size will reach US$3,112 million ($4.2 billion) by 2022, growing at a CAGR of 15.2% from 2016 to 2022, according to a new report published by Allied Market Research. The growth is expected to come as a result of the increase in inventory and workload of WMS in warehouse operations, and Europe is expected to be the largest market during the forecast period.
The report, ‘Global Warehouse Management System Market by Component Type, Industry Vertical, and Geography—Global Opportunity Analysis and Industry Forecasts, 2014–2022’, found that among the various industry verticals, transportation & logistics is projected to dominate the market, however pharmaceuticals industry is expected to have the fastest growth rate.
“The European market is most productive as compared to others with diverse industry verticals implementing WMS at a greater extent. Furthermore, it is projected to generate the highest market revenue over the forecast period with predominant deployments in the transportation & logistics industry” said Seapee Bajaj, Lead Analyst, Construction & Manufacturing at AMR.
Asia-Pacific is estimated to grow fastest due to increase in the adoption of WMS services and extensive growth in Japan, China, Australia, and India.