Warehousing And Storage Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Major companies in the warehousing and storage market include APL; DHL; Genco; Mitsubishi Logistics and Kuehne+Nagel. The global warehousing and storage market is expected to grow from $426.

New York, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Warehousing And Storage Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009763/?utm_source=GNW
9 billion in 2020 to $447.96 billion in 2021 at a compound annual growth rate (CAGR) of 4.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $627.95 billion in 2025 at a CAGR of 9%.

The warehousing and storage market consists of sales of warehousing and storage services and related goods by entities (organizations, sole traders and partnerships) that operate warehousing and storage facilities for bonded merchandise, general merchandise, refrigerated goods and other warehouse products. Establishments in the warehousing and storage industry generally handle goods in containers, such as boxes, barrels, and/or drums, using equipment, such as forklifts, pallets, and racks. They are not specialized in handling bulk products of any particular type, size, or quantity of goods or products. The warehousing and storage market is segmented into general warehousing and storage; refrigerated warehousing and storage; specialized warehousing and storage and farm product warehousing and storage.

Asia Pacific was the largest region in the global warehousing and storage market, accounting for 33% of the market in 2020. North America was the second largest region accounting for 27% of the global warehousing and storage market. Africa was the smallest region in the global warehousing and storage market.

Many warehousing and storage companies are using big data analytics as a tool to plan and optimize warehouse operations. Big data analytics refers to the process of examining large sets of data to obtain useful information such as hidden patterns, market trends, unknown correlations and customer preferences. Big data analyses the location, capacity and flexibility of warehouses to predict customer requirements. It helps in improving warehouse planning and replenishment and creating lean supply chains with sophisticated inventory systems. This maximizes workflow, improves floor utilization and increases operational efficiencies and ROI. For example, The Clemens Group, a food services provider uses big data forklift fleet management software to track vehicle impacts, operator productivity and equipment utilization in forklifts in the warehouse. EastPack, one of the largest kiwifruit packing houses in New Zealand, uses big data from real-time location systems to minimize supply chain errors and inventory issues. Major companies using big data analytics in warehousing include Deutsche Post DHL Group, United Parcel Service and Kuehne + Nagel.


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