A rapid advancement of the eCommerce sector owing to surfacing of the COVID-19 pandemic and surge in the use of smartphones for rapider goods management are projected to create prominent growth prospects in the global smart warehousing market during the forecast period of 2021 to 2031.
Smart warehouse refers to a huge building where the storage of manufactured goods and raw materials is carried out. The smart warehouse technology utilizes computers and machines to perform regular warehouse operations that were earlier performed by humans.
An upcoming research report by Transparency Market Research (TMR) delivers comprehensive assessment of major factors influencing the growth of the global smart warehousing market. This document gives in-depth assessment of several key elements such as trends, drivers, restraints, growth opportunities, and challenges in the market. Thus, the study works as a dependable source of to gain prime information on the global smart warehousing market.
The analysts of this study have performed segmentation of the global smart warehousing market based on several prime parameters including component, application, technology, deployment mode, organization size, vertical, and region. On the basis of component, the market is classified into solutions, services, and hardware.
In smart warehouses, a wide range of operations are performed, including receiving and identifying orders, storing products, counting products, sending orders to the correct place, and remembering where they are. All these activities are performed with no or minimum errors as different technologies such as RFID, AGV, and IoT & analytics are utilized for all these activities. Surge in adoption of advanced technologies is serving as key factor boosting the growth of the global market for smart warehousing.
Majority of smart warehouses are growing inclination toward automation of almost all operations included in the goods’ journey from suppliers to customers. Thus, notable growth in the adoption of automation at warehouses from all across the globe is projected to boost the sales opportunities in the global smart warehousing market in the upcoming years.
The market for smart warehousing is projected to expand on the back of advent of multi-channel distribution networks together with the globalization and dynamic nature of supply chain networks around the world.
Players operating in the global smart warehousing market are executing diverse strategic moves in order to deal with the high level of competitions. Mergers, acquisitions, partnerships, and collaborations are some of the prominent strategies utilized by leading market enterprises.
Several players in the smart warehousing market are focused on their regional expansions. A case in point here is the October 2021 announcement by Oracle. The firm announced plans to expand its regional presence in 14 new cloud regions across the Middle East, Europe, Latin America, and Asia Pacific.
The list of key players in the global smart warehousing market includes:
In terms of region, North America is likely to be one of the dominant regions of the global smart warehousing market. Early adoption of advanced technologies in the region is expected to be one of the prominent reasons driving the growth of the North America smart warehousing market.
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