III. Industry Analysis
3.1 Industry Profile
The global e-commerce market reached $13 trillion in 2021 and is expected to reach $55.6 Trillion by 2027, exhibiting a CAGR of 27.4% during 2022-2027.
The advancement of digital technology has led to a surge in demand for e-commerce warehouses across a variety of applications. The increase in international e-commerce and the rise in internet users, particularly in developing countries, are the key drivers of the expansion of online business.
The market is expected to experience growth in the foreseeable future due to the increasing popularity of smartphones, which has led to a surge in online shopping opportunities and greater customer exposure to these options.
Increasing demand from e-commerce companies for larger warehouses with better tracking and forecasting is expected to drive the warehouse management system market.
3.2 Market Size
The global warehouse management systems market reached $2.94 billion in 2021 and is estimated to expand at a CAGR of 16.1% from 2022 to 2030.
The demand for WMS is expected to experience a significant increase as a result of the changing supply chain models adopted by product manufacturers and the rapid growth of consumer demand, particularly in the retail and, transport & logistics sectors. The rapid growth of digitalization and wider consumer adoption of e-commerce industries in their daily activities is propelling the warehouse management system market. Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global warehouse management system market.
