Global Smart Warehousing Market Size to Reach USD 49.32 Billion in 2032 | Emergen Research

Rise in innovative technologies is one of the major factors driving smart warehousing market revenue growth

Vancouver, Sept. 06, 2023 (GLOBE NEWSWIRE) — The global smart warehousing market size was USD 16.70 Billion in 2022 and is expected to register a revenue CAGR of 11.5% during the forecast period, according to the latest analysis by Emergen Research. The rapid technical breakthroughs, rise in the use of smart devices in warehouses, and a drive for industry adoption of the Internet of Things (IoT), augmented reality, autonomous robotics, big data analytics, and other 4.0 technologies, systems are rapidly becoming digital, and innovative technologies are advancing which are some of the major factors driving the smart warehousing market revenue growth.

Some of the major benefits of smart warehousing which are driving the market revenue growth are faster shipping and delivery of ordered items, reduction in human errors, increased space-saving capability, and lower prices of goods due to reduction in labor costs. The recent advancement of Autonomous Mobile Robots (AMRs) is driving market revenue growth due to the major advantages of increased safety and flexibility, faster implementation, improved scalability, and ease of movement between facilities.

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In addition, they reduce error rates, improve productivity and efficiency, provide space savings, and reduce process time. As a result, major companies are collaborating and adopting this technology to improve the performance of their warehouses. For instance, on 12 May 2023, DHL announced plans to deploy 5,000 Autonomous Mobile Robots (AMRs) throughout its warehouses in an expansion of its relationship with Locus Robotics. Moreover, the government backing for development of warehouses in different regions is driving the market revenue growth. For instance, on 7 February 2023, the government of Saudi Arabia announced significant investments in brand-new smart warehouses to construct 14 new high-tech warehouses in the city of Jeddah based on a public-private partnership model.  The new warehouses will be fully digital and automated enabling firms to access their storage units through a smartphone app. These are some of the major factors that are driving the market revenue growth.

The main barriers to smart warehousing are high capital costs associated with initial setup of firms to automate their warehouses with cutting-edge technology and employee training that may result in short-term Return On Investment (ROI) uncertainty. A major concern in this sector is loss of jobs experienced by employees as a result of the usage of robots in their place. In addition, there is a poor adoption rate for current smart warehouses, necessitating reprogramming of the entire warehouse system and poor functioning of these smart warehouses. These are some of the factors that are restraining market revenue growth.

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Scope of Research

Major Companies and Competitive Landscape

The global smart warehousing market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective warehousing solutions. Some major players included in the global smart warehousing market report are:

• Manhattan Associates
• Oracle
• SAP
• PTC
• Infor
• Generix Group
• Körber AG
• Reply 
• PSI Logistics GmbH
• Microlistics

Strategic Development

• On 27 May 2021, BALYO, a technological leader in the design and development of cutting-edge robotic solutions for material handling trucks, announced a partnership with Körber, an integrator with unmatched supply chain technology expertise to increase warehouse throughput, productivity, and safety. Körber and BALYO, integrator, and developer of advanced autonomous fork-lift robots, will offer the most advanced technology in autonomous Material Handling Equipment (MHE) to enterprises globally.
• On 30 July 2021, Google Cloud and SAP, a German software corporation, strengthened their strategic cooperation to speed up corporate transitions in the cloud. In addition, the ‘RISE with SAP’ project also helped Google expand the range of SAP services that are accessible on its cloud platform. Moreover, in the second or third quarter of 2022, SAP Analytics Cloud and SAP Data Warehouse Cloud were expected to be accessible internationally on Google Cloud.

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Some Key Highlights From the Report

• The software segment accounted for largest revenue share in 2022. The main advantages of the software used in smart warehouses that are driving revenue growth of this segment are that they provide better task planning, better decision-making, and better integration and performance optimization in conjunction with smart warehouse systems. The current development of Warehouse Management System (WMS) is encouraging segment development due to its benefits of increasing labor efficiency, accelerating turnaround times, increasing transparency in operations, and enhancing scalability and flexibility. Major corporations are therefore developing this technology further and launching new products. For instance, on 13 March 2023, Softeon announced the launch of two linked solutions to help organizations increase output, reduce cycle times, and achieve high levels of operational agility. One of the solutions included a strong set of software tools that can build the smart, automated warehouse of the future. The foundation of the smart warehouse is a comprehensive warehouse management system that offers highly adjustable capabilities for end-to-end, real-time distribution process management. These are the major factors that are contributing to revenue growth of this segment.
• The Internet of Things (IoT) and analytics segment is expected to register highest revenue CAGR during the forecast period. The main advantages of IoT that are driving revenue growth of this segment include their contribution to improving real-time decision-making, total transparency, predictive operations and maintenance, precision quality maintenance, and labor and operational cost reduction. The advantages of tracking movement of goods, their delivery, and monitoring temperature and humidity in warehouses and transport vehicles are driving the recent development of sensors in IoT technology, which is driving revenue growth of this segment. As a result, major corporations are using this technology and incorporating it into both their new and existing goods. For instance, on 25 October 2021, Zyter announced the development of OneScreen, a cutting-edge, next-generation smart warehouse that was outfitted with products from Qualcomm Technologies, Inc. OneScreen’s smart warehouse architecture included elements including a Long-Term Evolution (LTE)-private network, the utilization of a digital twin, a powerful warehouse management system, Autonomous Mobile Robots (AMR), Augmented Reality (AR)/ Virtual Reality (VR) technologies, IoT sensors, and more. These are some of the factors that are driving revenue growth of this segment
• The transportation and logistics segment accounted for largest revenue share in the market in 2022. Faster delivery, lower operating costs, fewer returns of goods, and higher customer satisfaction are some of the major advantages of smart warehousing in logistics and transportation that are driving the revenue growth of this segment. The recent development of Artificial Intelligence (AI) in logistics and transportation is driving the development of the segment because it improves customer service, process automation, and supply chain management through improved warehouse efficiency, accurate inventory management, and on-time delivery of goods. As a result, large corporations are working together to create new AI-driven robots for their logistical units. For instance, on 26 January 2022, FedEx Express, a branch of FedEx Corp. and one of the largest express shipping companies in the world in partnership with Dorabot, a leading provider of robotics solutions for logistics announced the launch of DoraSorter, an intelligent sorting robot powered by AI. These are some of the factors that are driving revenue growth of this segment.
• North America market accounted for a significantly large revenue share in 2022. This is attributed to latest technological advancements and upgrades along with the launch of new platforms for increasing efficiency and productivity in operations of the working systems. For instance, on 26 January 2023, Deloitte Canada announced the launch of the Smart Factory in Montreal, a first-of-its-kind facility showcasing an interconnected ecosystem of more than 20 cutting-edge solutions and technology and intended to change manufacturing and warehousing through digital transformation. These are some of the factors that are driving the market revenue growth in this region.

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Emergen Research has segmented the global smart warehousing market on the basis of component, deployment, organization size, application, technology, industry, and region:

• Component Outlook (Revenue, USD Billion; 2019-2032)

• • Hardware
  • Software
  • Services

• Deployment Outlook (Revenue, USD Billion; 2019-2032)

• • On-Premises
  • Cloud

• Organization Size Outlook (Revenue, USD Billion; 2019-2032)

• • Large Enterprises
  • Small and Medium-sized Enterprises (SMEs)

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Transport Management
  • Inventory Management
  • Order Management
  • Yard Management
  • Shipping Management
  • Labor Management
  • Others

• Technology Outlook (Revenue, USD Billion; 2019-2032)

• • Internet of Things (IoT) and Analytics
  • Artificial Intelligence (AI) in Warehouse
  • Automated Guided Vehicles (AGV)
  • Radio Frequency Identification (RFID)
  • Blockchain in Warehouse
  • Others

• Industry Outlook (Revenue, USD Billion; 2019-2032)

• • Transportation and Logistics
  • Retails and e-commerce
  • Manufacturing
  • Automotive
  • Energy and Utilities
  • Healthcare and Lifesciences
  • Food and Beverages
  • Others

• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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