The worldwide market for warehouse management systems is expected to grow at a compounded annual growth rate of 7.5 percent over the next five years. The market was $1.25bn in 2007 and is forecasted to be over $1.8bn in 2012, according to a new ARC Advisory Group study.
The warehouse management system market is a mature one that has been around for decades, and double-digit growth takes place year after year, says Steve Banker, service director for supply chain management at ARC Advisory Group. "This growth has been driven by a technology refresh among customers with older systems, and the emergence of WMS in new verticals and parts of the world that that have not historically bought this solution."
Emerging verticals are combining WMS with traceability and proof of delivery to create a solution that spans from the point of storage to the point of use. In effect, they are creating a form of extended WMS.
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