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The solutions segment accounted for a market share of about 65% in 2022 and is estimated to register significant growth owing to the increasing demand for comprehensive technology solutions. Companies are seeking end-to-end packages that encompass Warehouse Management Systems (WMS), automation, robotics, IoT, and data analytics. These integrated solutions offer improved visibility, real-time data insights, and streamlined operations. As businesses aim to enhance efficiency and reduce costs, they are turning to these all-in-one smart warehousing solutions to optimize their supply chains. This trend reflects a shift toward the holistic approach to warehouse management for greater agility and competitiveness.
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The cloud segment captured a market share of around 35% in 2022 and is slated to witness significant growth due to its inherent advantages. Cloud-based solutions offer scalability, flexibility, and accessibility, enabling companies to remotely manage & optimize their warehouses. This trend is being driven by the need for real-time data access, cost-effective operations, and seamless scalability. Cloud-based Warehouse Management Systems (WMS) and other cloud-enabled technologies provide businesses with the agility to adapt to changing demands and enhance the overall efficiency, making them an integral part of modern smart warehousing strategies.
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North America led the global smart warehousing market in 2022, accounting for a share of over 30%. The region has a robust e-commerce sector, which is driving the demand for efficient & automated warehousing solutions. The rising adoption of advanced technologies, such as IoT, robotics, and cloud-based systems, is improving supply chain operations. Additionally, the focus on sustainability and the reduction in operational costs are spurring the adoption of smart warehousing practices. For instance, in September 2023, Afresh Technologies launched an AI-powered fresh inventory management software. The Afresh platform is transforming ordering & inventory management across the fresh departments of grocers with purpose-built solutions for the complexities of fresh food.