Global Smart Warehousing Market Size Expected To Reach USD 36.9 Billion With CAGR 10.6% By 2030

The Global Smart Warehousing Market size is expected to grow from USD 16.48 billion in 2022 to USD 36.9 billion by 2030, at a CAGR of 10.6% during the forecast period (2023-2030).

Market Overview:

The ultimate of warehouse automation is a smart warehouse (in other words, automating various components of your warehousing operations). A smart warehouse, like a smart home, is equipped with several automated and networked technology. These technologies work together to boost warehouse productivity and efficiency while reducing mistakes and reducing the number of human workers. Smart warehouse solutions are designed to give businesses real-time visibility into their operations, allowing them to optimize procedures and make quick adjustments to boost efficiency. Smart warehouses can also eliminate the bulk of human error and improve facility safety and security.

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Top Key Players for Smart Warehousing Market:

IBM (US), Oracle (US), SAP (Germany), EasyEcom (India), Manhattan Associates (US), PSI Logistics (Germany), PTC (US), Tecsys (Canada), Reply (Italy), Infor (US), Korber (Germany), Softeon (US), Generic (France), Microlistics (Australia), Blue Yonder (US), Vinculum (India), IAM Robotics (US), Epicor (US), 3PL Central (US), BlueJay Solutions (US), Mantis (US), Synergy Logistics (US), WareIQ (India), Foysonis (US), Increff (India), Locus Robotics (US), ShipHero (US), Orderhive US), Unicommerce (India), Logiwa (US), and Other Major Players.

The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

Market Dynamics and Factors for Smart Warehousing Market:

Drivers:

Faster shipping

Order processing requires a disproportionate amount of time in a standard warehouse. Picking merchandise and filling orders on the warehouse floor takes a lot of time for associates. Picking mistakes also create further delays in order processing, sorting, and packaging. Picking errors are estimated to occur between 1% and 3% of the time in a typical warehouse. Picking mistake rates may be reduced to near zero using smart warehouse systems. Collaborative mobile robots and automated picking systems cut order picking time and eliminate the need for warehouse personnel to trek vast distances.

Opportunities:

The Future of The Smart Warehouse

Smart warehouses represent a shift away from complex, unchanging, reactive supply chains and toward quicker, smarter, automated systems, which is anticipated to continue. As corporations install smart warehouse systems and can perform more efficiently at comparable, if not lower, prices, outsourcing and China's dominance in manufacturing will go away. The boundary between a warehouse and a factory may also blur as smart technology enable businesses to make things on demand and ship them to customers right away.

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Segmentation Analysis of the Smart Warehousing Market:

Based On The Component, the hardware segment is expected to hold the maximum market share during the forecast period. This rise can be due to the growing popularity of smartphone devices across multiple sectors, which can quickly deploy inventory management systems and automated picking tools to handle the inventory process and lower total labor costs.

Based On The Technology, the AI segment is expected to dominate the smart warehousing market throughout the forecast period. AI can assist warehouses in becoming "smart." The entire operation, from purchase to delivery, will be managed by AI in a 'smart warehouse.'

By Component

•          Hardware
•          Solutions
•          Services

By Technology

•          IoT & Analytics
•          RFID
•          AI
•          AGV

By Application

•          Inventory Management
•          Transport Management
•          Shipping Management
•          Order Management
•          Others

By Verticals

•          Energy & Utilities
•          Transportation & Logistics
•          Retail & Ecommerce
•          Agriculture
•          Others

Regional Analysis of the Smart Warehousing Market:

North America accounts for the largest revenue share contribution to the global smart warehousing market owing to various factors such as rising adoption of smart warehousing hardware, software, and services, early adoption of new technological advancements, and the presence of key players in this region. Because of the growing demand for automated warehouse cycles for increased productivity, effectiveness, and precision, smart warehousing technologies, solutions, and services are expected to gain traction in this area. Smart warehouse solutions allow for greater adaptability and increase employee capacity.

•          North America (US, Canada, Mexico)
•          Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
•          Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
•          Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
•          Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
•          South America (Brazil, Argentina, Rest of SA)

Key Industry Development:

In October 2021, Smart Warehousing, a nationwide provider of warehousing and fulfillment services, has opened an Innovation Hub in its Edgerton, Kansas headquarters. The move, according to the firm, would allow it to become a major fulfillment player while also promoting strategic alliances with warehousing automation companies, which will utilize the Kansas site to test the technology in real-world circumstances.

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