Major players in the warehouse execution system market are Softeon, Westfalia Technologies Inc, Fortna Inc, Honeywell International Inc. , Manhattan Associates Inc, Matthews Automation Solutions, Bastian Solutions LLC, SSI Schaefer Group, Invata Intralogistics, Tompkins International, Zethcon Corporation, Infor, BluJay Solutions, PTC Inc and Swisslog.
New York, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Warehouse Execution System Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06364872/?utm_source=GNW
The global warehouse execution system market is expected to grow from $1.43 billion in 2021 to $1.64 billion in 2022 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The warehouse execution system market is expected to grow to $2.83 billion in 2026 at a compound annual growth rate (CAGR) of 14.6%.
The warehouse execution system market consists of sales of warehouse execution systems by entities (organizations, sole traders, and partnerships) that are used to maximize productivity, optimize inventory, increase accuracy, and improve safety. The warehouse execution system refers to a software application that optimizes facility management that integrates with a warehouse management system (WMS), an enterprise resource planning system (ERP) to manage and direct physical work processes.
The main types of components of the warehouse execution system are software and service.Software refers to programs that run on computers and perform specific functions.
The deployment models are on-premises, and cloud used by consumer electronics, healthcare, food and beverages, automotive, third-party logistics (3PL), and other end users.Western Europe was the largest region in the warehouse execution system market in 2021.
Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the warehouse execution system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Western Europe was the largest region in the warehouse execution system market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the warehouse execution system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa
The rising growth of the e-commerce sector owing to the pandemic propels the growth of the warehouse execution system market.E-commerce (electronic commerce) refers to the purchasing and selling of goods and services, along with the transmission of payments and data, over an electronic network, primarily on the internet.
A warehouse execution system helps E-commerce by managing, optimizing, and directing the physical work processes such as picking, receiving, and replenishment in a warehouse or distribution center. For instance, according to the US Department of Commerce, the executive department of the U.S. federal government, concerned with economic growth and opportunity, in the first quarter of 2022, retail e-commerce sales increased by 2.4 % as compared to the first quarter of the previous year, 2021, which was valued at $250.0 billion. Therefore, the rising growth of the e-commerce sector owing to the pandemic is driving the growth of the warehouse execution system market.
Technological advancements are the key trends gaining popularity in the warehouse execution system market.Major companies operating in the warehouse execution systems sector are focused on developing new technologies to strengthen their position in the warehouse execution systems market.
For instance, in April 2020, UPS Supply Chain Solutions, a US-based transport, and logistics company, and Softeon, a global warehouse management company, launched warehouse network technology designed to make distribution centers smarter and more efficient.In order to ensure that consumers receive their orders on time, the new warehouse execution system (WES) is expected to enable quicker order intake and fulfillment.
The unique features of the warehouse execution system (WES) such as the real-time monitoring of capacity, fulfillment needs, backlogs, and labor status by the WES make it possible to spot and address potential problems before they happen. Robotics and other unique automation technologies integrated into the system will assist in achieving such objectives.
In March 2021, National Professional Planning Group, Inc., a US-based financial services company engaged in employee benefits, retirement planning, actuarial consulting, and fiduciary services, acquired Vargo Company for an undisclosed amount. The acquisition aims to strengthen NPPG’s growth and expansion initiative to be the fastest growing and most versatile employee benefits firm. Vargo is a US-based, automation machinery manufacturing company engaged in the development of a warehouse execution system..
The countries covered in the warehouse execution system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The warehouse execution systems market research report is one of a series of new reports that provides warehouse execution systems market statistics, including warehouse execution systems industry global market size, regional shares, competitors with a warehouse execution systems market share, detailed warehouse execution systems market segments, market trends and opportunities, and any further data you may need to thrive in the warehouse execution systems industry. This warehouse execution systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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