According to a research report “Smart Warehousing Market by Offering (Hardware, Software, Services), Technology (AI & Analytics, Robotics & Automation), Application (Inventory Management, Predictive Analytics), Warehouse Size, Vertical and Region – Global Forecast to 2028″ published by MarketsandMarkets, 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. 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.
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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.
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.
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).
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