Global Smart Warehousing Market: Snapshot
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.
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Key Drivers of Smart Warehousing Market Growth
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.
Competition Landscape and Notable Developments in Smart Warehousing Market
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:
- Manhattan Associates
- PSI Logistics
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North America Demand Outlook for smart warehousing
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.