With over 350 outlets in Vietnam Online Grocery Market, the Supply side has been doing well. Is the Demand sufficient for a Robust Growth?: Ken Research

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The country has over 8 players partnering with over 40 logistics companies actively in order to fulfill the demand, says a report by Ken Research

1. “Supply taken care of:” The supply side infrastructure of Vietnam Online Grocery Market is positioned well as a result of various initiatives by the government & companies themselves.

Click to Read Full Article: Vietnam Online Grocery Market

The online grocery market in Vietnam is well positioned to fulfill the current demands of the industry as a result of various initiatives undertaken by the government & the companies themselves. In May 2020, the government of Vietnam approved the e-commerce development master plan that aims to promote the e-commerce by narrowing the gap between major cities and localities and building a sustainable virtual market. Rising income levels have also led to a change in the spending pattern. The middle-income class in Vietnam has been growing steadily over the past ten years. During the period 2016 – 2021 it was observed that the middle-income population in Vietnam increased at a CAGR of 10%, it accounted approximately 13% of the total population, and is expected to grow by 26% by the end of the year 2026. With over 61 Mn active internet users, Vietnam has a well-positioned market for e-commerce.

2. The rising internet penetration & working professionals alongside some perks arising out of online grocery shopping has tilted the preference towards online platforms.

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The most beneficial factor of shopping online was identified as a possibility to compare prices and buy at a lower price. Customer would prefer the operator that would offer similar products at a lower price. Moreover, promotion techniques such as coupons, free samples, discounts, cashback offers has increased the chances of customer retention. Hassle free payment, return & refund experience is an important factor in a purchasing decision and has lured customers towards online shopping. Furthermore, a clear return policy gives consumers a feeling of security which is often not the case in offline purchases. When it comes to working professionals, faster delivery is something that has attracted them alongside rising internet penetration rate which stood at over 61 Mn in 2020. All in all, the online shopping trend is picking up pace with over 30% of online buyers being frequent in nature placing the order 3-5 times a month.

3. “Demand to pick up pace:” Increasing demand for fast-delivery of groceries is anticipated to be seen in the upcoming years as people expect more online platforms.

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Increasing service innovation such as Expanding product assortments to ensure 100% product availability at all times. Virtual shopping tour with available products. Enabling consumers to compare products, prices and read labels & Facilitators in terms of shopping lists i.e. multiple family members could add to a common grocery wish list will be expected in the upcoming years. Moreover, improvement in delivery infrastructure is also something that can be expected to be there in the online grocery market in Vietnam.

Used Car platforms in UAE are likely to focus on establishing a transactional marketplace to enable 100% online end-to-end transactions. Will the growth sustain?: Ken Research

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In 2020, online marketplace players and classified network contributed to majority share of 75% of the overall sales volume of used cars in UAE: Ken Research

1. “Go Digital:” The players in the market have realized the importance of a multichannel approach to sales.

Online preference in UAE Used Car Market: Click Here

The United Arab Emirates has a significantly high penetration of internet users in the GCC region. This can be primarily attributed to the availability of high-speed internet at an affordable price. In 2021, there were over 10 million internet users in the United Arab Emirates and the internet penetration rate stood at over 95 percent of the total population by 2022. This has motivated players to switch their business model from offline to online models in order to offer an easy and hassle-free experience to their customers. For instance, in February 2022, Cars24 a renowned online platform launched an AI-enabled software, allowing buyers to purchase and sell cars within 30 minutes of downloading the program. Customers can also calculate their monthly EMI and track other characteristics like engine, steering, and tires.

2. “C2C in demand:” C2C Segment is Expected to Grow at over 12% CAGR During the Forecast Period.

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The customer-to-customer or C2C sale in UAE has become much easier due to rise of    the social media and the internet. The market is expected to grow at a CAGR of over 10% during the forecasted period. According to Q1 2022 Global Social Commerce Market Survey, more than 68% of the consumers in the country prefer to make pre-owned cars related purchases through social media platforms such as Facebook, Instagram, and TikTok. Dubbizzle is the most popular website for selling and buying used cars from private owners. It was first launched as a Dubai-focused website but now covers all the seven emirates. Other similar websites include UAEclass, Kargal and Open Sooq. Used cars for private sale can also be found on expat forum websites such as ExpatWoman, Expat Forum, and ExpatExchange.

3. “EV in demand:” With the onset of COVID, the sellers & buyers shifted towards EV & that is expected to be seen during the forecasted period as well.

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The demand for new cars compared to used cars is expected to decrease at a massive pace in between 2020 and 2025. Since, newer cars are more expensive and the recent development in used car market wherein quality products are being offered, customers will be looking forward to spend affordable prices on used cars rather than paying hefty sums for newer brands. Also, the introduction of electric vehicles in the market will deem the newer fuel operated vehicle obsolete thereby decreasing the demand for new cars. This in turn, is temporarily expected to increase the demand for used car till the time complete shift to electric vehicle takes place. Along with that, any prospective government regulation and tax imposition on fuel operated vehicle in order to curb pollution is also expected to decrease the demand for new cars.

EV Charging Equipment market gets a big push from the government as EV adoption grows in India: Ken Research

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Since 2020, EV sales in India have been consistently breaking records as a result of a dynamic shift in public opinion towards electric transportation. The government currently faces a big gap as EV adoption rises, and building a massive network of public stations and community charging stations in important metro areas comes as a big task. However, the government is coming forward and providing several incentives to fix this gap. Here is a glimpse of the major government’s strategic plan and actions that aim to offer a big support to the EV charging Equipment market in India, directly from our premium report.

1. With US, China and part of Europe becoming frontrunners for EV adoption, India also has a high potential for EV Penetration and Growth

2. As a part of the larger EV adoption push, different aspects of EVSE deployment—standards, incentives, adoption and execution—have been entrusted to different government entities

3. The government has announced EV infrastructure Standards and Guidelines to implement Electric Vehicle Charging Stations

4. Incentives will be disbursed in three slots—20% at the time of approval as an advance, 40% after the commissioning of charging stations, and 40% after 6 months of successful commercial operation

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 5. As of January 2020, 2,636 EV chargers have been allotted the incentive in 24 states and union territories, out of which 1633 fast chargers and 1003 slow chargers have been sanctioned

6. Lack of Space, Manpower for Setting-Up along with High Initial Costs of Charging Equipment, and Infrastructure are the major challenges in India’s EV Charging Equipment Market

7. However, Battery swapping could address some of the key challenges in electric vehicles, such as the high battery replacement cost, long charging duration, and insufficient charging infrastructure

8. Owing to Strong government Push and Industry Initiatives India is expected to witness considerable growth in the EV Charging Infrastructure market

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India EV Charging Equipment Market

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USA EV & EV Charging Equipment Market Outlook to 2027

KSA EV Charging Equipment Market Outlook to 2027F

 

Increasing demand for 2 Wheelers will ensure business sustainability in Indian Multi-brand Outlet Market: Ken Research

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1. Two wheelers dominate the domestic Indian auto market accounting for almost ~75% of the overall automobile sales

Click to Read Full Article: India MBO Two Wheelers Market

Indian auto industry recorded strong growth in FY22, post recovering from the effects of the COVID-19 pandemic. Electric vehicles, especially two wheelers, are likely to witness positive sales in FY23. 1/2 of the households in big cities and developed rural areas own two-wheelers. Upper Middle class people are preferring to purchase 4Ws instead as evidenced by ~13.5% market share in FY’20 growing up to ~20% Market share in FY’22. Moreover, India has become the world’s largest producer of two-wheelers since FY’19. One in three Indians use 2Ws for their daily commute to and fro work. 2Ws are primarily a utilitarian choice for Indians rather than an aspirational or lifestyle choice. First-time buyers in rural and semi urban areas have been the biggest drivers in this segment.

2. India has higher sales penetration for Motorcycles rather than Scooters via MBOs due to its high mileage and being a preferred medium of commuting

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As of FY’22, Motorcycles are preferred over scooters owing to their high mileage. Motorcycle although occupies the largest share in India 2-Wheeler MBO market, scooter segment is expected to rise sharply in coming years as scooter is more convenient to any family member regardless of age or gender hence it will become a preferable choice in the future. Another reason is the cost effectiveness of a scooter compared to a motorcycle.

3. It takes anywhere between 2-48 hours to disburse the loan amount via a bank or a NBFC for 2Ws after examining the CIBIL Score and detailing financial background check of an applicant

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Banks mostly provide loans to a MBO via authorized dealer. Invoice is generated by the authorized dealer. While NBFCs can directly partner with the MBO, basic documentation is completed by an MBO executive. Both the parties’ partner with a Direct Selling Agent to receive loan enquiries in most cases. The Agent codes are generated to give payouts to the MBOs. Banks hold a major share in the MBO finance because they have lower interest rates and better connectivity.

Rise in the ASP of the vehicle will push the lower income group to look for financing options. Another reason is the expanding female applicants will give a slight push to the financing market parallel to the overall 2W sales. Inclination towards top variants of the 2W will also help finance market to grow.

The online meat delivery market in India is expected to reach a market size of approximately $3 billion by the end of the 2026. Will India able to stand on the projected figure? Ken Research

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1. Millennials showing Interest in the Online Meat Delivery Segment

Trends and Developments in Online Meat Delivery Market

There has been a growing trend among millennials showing interest in the online meat delivery segment. This can be attributed to several factors. Firstly, millennials are a tech-savvy generation that values convenience and time-saving solutions. Online meat delivery services offer the convenience of ordering fresh, high-quality meat with just a few clicks, without having to visit a physical store. This can be especially appealing for busy millennials who are juggling work, family, and other responsibilities.

Secondly, there is a growing awareness among millennials about the importance of sustainable and ethical food consumption. Many online meat delivery companies focus on sourcing their meat from local, sustainable farms, and providing transparency about their farming practices. This aligns with the values of many millennials who are concerned about the impact of their food choices on the environment and animal welfare.

Finally, the COVID-19 pandemic has accelerated the adoption of online shopping and delivery services, including online meat delivery. Overall, the online meat delivery segment is likely to continue to grow in popularity among millennials and other generations who value convenience, sustainability, and ethical food consumption.

 2. New and Innovative Product Categories are expanding the Customer Base

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Meat delivery is a rapidly growing industry, with new and innovative product categories expanding the customer base. Here are some of the latest trends and categories that are driving growth in this industry:-

Plant-based meat alternatives: As the popularity of vegetarian and vegan diets grows, so does the demand for plant-based meat alternatives. Many meat delivery companies now offer a range of plant-based options, from burgers and sausages to meatballs and chicken substitutes. These products appeal to both vegetarians and meat-eaters who are looking for healthier, more sustainable alternatives.

Specialty cuts: Many meat delivery companies are now offering specialty cuts of meat that are hard to find in traditional grocery stores. These might include Wagyu beef, Berkshire pork, or grass-fed lamb. These cuts are often of a higher quality than what you can find in the grocery store, and they appeal to customers who are looking for something unique and flavorful.

Ready-to-cook meals: Another trend in meat delivery is the availability of ready-to-cook meals. These meals typically include pre-cut and pre-seasoned meat, along with vegetables and other ingredients that can be quickly cooked at home. This category appeals to busy consumers who want to prepare healthy meals at home without spending a lot of time on meal prep.

Sustainable and ethical meat: Many consumers are now concerned about the environmental impact of meat production, as well as the welfare of the animals. As a result, there is growing demand for meat that is produced in a sustainable and ethical manner. Meat delivery companies that can offer meat from animals raised on small farms, using sustainable and humane practices, are attracting a growing number of customers.

Overall, these new and innovative product categories are expanding the customer base for meat delivery companies and providing consumers with a wider range of options for healthy, sustainable, and delicious meat products.

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3. More than 90% of the Meat Market in India is highly Unorganized

• ~70% Population of India is non-Vegetarian. Majority of the people in India still prefers to buy meat offline from local butcher shops. The meat industry in India is largely unorganized, with more than 90% of the market being operated by small, unregistered, and informal meat sellers. These sellers usually operate in open-air markets or on the roadside, where they sell a variety of meat products such as chicken, mutton, and fish.
• The unorganized nature of the meat industry in India is a significant challenge for food safety and hygiene. Most small meat sellers do not have access to proper storage facilities or refrigeration, and there are often no standards in place to regulate the quality of the meat being sold. This can lead to the sale of contaminated or spoiled meat, which can pose health risks to consumers.
• The Online meat delivery companies in India ensures the quality of meat as they claim that every product passes through stringent quality & safety checks before reaching the consumer.

Global Used Vehicle market is growing at a double digit CAGR in 2017-2022 and is expected to reach USD 2.5 Tn by 2027 – Ken Research

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What is the Size of Global Used Vehicle Industry?

The Global Used Vehicle Market is largely driven by Inflation, High price of new vehicles, Availability of used vehicles at lower prices are major factors contributing towards development of Global Used Vehicle Market.

The Global Used Vehicle market is moderately fragmented with multiple dealers (both organized and unorganized) operating in the industry. Majority of the used vehicles are sourced from vehicle-rental/ leasing companies & auctions. Direct buying from consumers or individual sellers is another major source.

The share of organized sector is more than unorganized sector in global used vehicle market due to higher preference and trust on organized players in the market.

People prefer vehicles that are around five years old as they are less likely to need expensive replacements at this age.

With the rise in preference for online retailing, the online segment is expected to witness significant growth, however, a large number of customers prefer offline stores while purchasing used vehicles to ensure and check the vehicle physically. Therefore, the offline segment of the market is anticipated to dominate the market during the forecast period.

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Global Used Vehicle Market By Type Of Market Structure

The Global Used Vehicle market is segmented by Type of Market Structure into Organized Channel, Unorganized Channel, OEM Certified Franchise Dealers, Multi Brand Dealers and Others. Unorganized channel was preferred by consumers globally.

Global Used Vehicle Market by Type Of Vehicle

The Global Used Vehicle market is segmented By Type of Vehicle into Cars, Bikes, Trucks, Buses, Bicycles and Others. Cars was the most dominant among others followed by Bikes in 2022.

Global Used Vehicle Market By By Age Of Vehicle

The Global Used Vehicle market is segmented by Age of Vehicle into 0-2 years, 2-4 years, 4-6 years, 6-8 years, 8-10 years and more than 10 years. 2-4 years was the most preferred age of vehicle in 2022 in Global Used Vehicle market.

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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Used Vehicle Dealers
• Used Vehicle Equipment Manufacturers and Distributors
• Auto Portals
• Online Dealers
• Vehicle Showrooms
• Unauthorized Dealers
• Market Research and Consulting Firms
• Automotive Companies
• Vehicle manufacturing Companies
• Tourism Agencies
• Government Bodies & Regulating Authorities

Time Period Captured in the Report

• Historical Period: 2017-2022
• Base Period: 2022
• Forecast Period: 2022-2027

Companies

Major Players Mentioned in the Report

Leading companies

• TrueVehicle, Inc
• Lithia Motors, Inc.
• Group 1 Automotive, Inc.
• THE HERTZ CORPORATION
• Pendragon PLC
• Asbury Automotive Group, Inc.
• AutoNation, Inc
• VehicleMax Business Services LLC
• Cox Automotive
• Hendrick Automotive Group.
• Batfa Japan Inc.
• India Kawasaki Motors Pvt. Ltd.
• Droom, Motorbikes 4 All
• Triumph Motorcycles
• Yamaha Certified Pre-Owned
• Motohunt Inc.
• Blade Motorcycles
• Mundimoto Europe SL

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Global Used Vehicle Market

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Global, Middle East & KSA Market is in the Growing Stage, Being Driven by Growing Demand for Sheet Fed In-Mold Labels and Positive Impact of Covid-19: Ken Research

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1. Covid-19 pandemic has been a major catalyst for Global In-mold labelling market, with a growth rate CAGR of ~5% between 2022-2027F.

Click to Read Full Article: Global, Middle East & KSA In-mold labelling market

By 2027F, the Global, Middle East & KSA In-mold labelling market is expected to grow at a robust rate. The market's expansion can be ascribed to the increasing investments, growing demand for sheet fed labels, inclination towards attractive packaging and high product security. Furthermore, the Covid-19 pandemic has also led to rise in e-commerce and also increased the demand for packaged foods which has further boosted the growth in In-mold labelling market in Middle East, KSA & Globally. The In-mold labelling market is expected to grow at a CAGR of ~5% Globally between 2022-2027F because of the emergence of new companies like Safeer Pac and Al Marai. The prominent companies in the In-mold labelling market in 2022 includes: Al Ghurair Printing & Publishing and Al Jawad.

2. Increasing investment, Positive impact of covid-19, inclination towards attractive packaging and high product security are the major growth drivers for Global, Middle East & KSA In-mold labelling Market.

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The increasing inclination toward attractive packaging is one of the key factors in driving the growth in in-mold labelling market. Aesthetically appealing no-label look & multi-coloured prints on consumer products acts as a lucrative marketing opportunity and an efficient branding tool for sheet fed printing. In addition to this, rising demand for eco-friendly and high-performing sheet fed labels, and increasing technological advancements are also driving the growth in in-mold labelling market as they make manufacturing process more efficient. Furthermore, the Covid-19 also has positive impact on the in-mold labelling market as it has led to rise of e-commerce platforms and also increases the demand for packaged foods, which further fuelled the growth in-mold labelling market globally.

3. With Complex Supply Chain, Technological Deprivation and Costing Patterns are posed as the major challenges faced by the In-mold labelling Market.

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A key challenge faced by the pet insurance market is the Tedious supply chain involved in implementing a Sheet fed IML project. It takes multiple disciplines and companies to develop a good plan for sheet fed IML. With respect to middle east, limited number of suppliers and printers is a real challenge while fulfilling the demand requirements for the various end user industries in the region. But the tedious supply chain is not the only challenge faced the market, challenges like technological deprivation and costing patterns also halts the growth of the In-mold labelling market. Furthermore, Accurate label placement in mold is also a critical issue. Not only accurate label placement, but accurate label size with minimal size variation & print-to-cut tolerances are also critical criteria. Thus, attention should be given to how label is shaped & presented to mold & conform to contours of molded container without wrinkling, puckering, or distorting printed image when molded.

Global Plastic Pipes Market Is Growing At A CAGR Of ~% In 2017-2022 And Is Expected To Reach USD ~ Bn By 2027 – Ken Research

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What is the Size of global plastic pipes industry?

The Global Plastic Pipes Market is largely driven by expansion of the infrastructure, government initiatives, high demand, and more awareness.

PVC pipes have gained popularity across world owing to their favorable properties such as light-weight, cost-effectiveness, easy installation and durability. Apart from this, their excellent heat and electrical insulation properties have led to their usage in electrical fittings. These pipes do no rot, wear or rust over time and can withstand rigorous shaking and extreme movement in earthquake-prone zones. Owing to these factors, PVC pipes are continuously replacing other piping materials.

Also, the primary driving factors in the market is the growing use of PVC pipes in the construction industry for applications such as water supply, housing and commercial, sewage and drainage, and irrigation. Furthermore, an increase in demand for PVC pipes in variety of applications such as chemical handling, building infrastructure, PVC molded material, as well as the good physical qualities such as durability, mechanical stability, chemical resistance, mailability of such pipes, drives rising demand for PVC pipes.

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Global Plastic Pipes Market By Market Structure

The Global Plastic Pipes market is segmented by market structure into organized and unorganized.

Organized sector has highest market share owing to better regulatory compliances. This is primarily due to larger population and availability of distributors.

Global Plastic Pipes Market By Types Of Pe Pipes

The Global Plastic Pipes Market is segmented by type of PE pipes into HDPE and MDPE.

HDPE pipes hold highest share in Global Plastic Pipes Market in 2022 owning to its extensive application in several industries such as the packaging industry, textile industry among others due to its chemical and corrosion resistance.

Global Plastic Pipes Market By Type Of Plastic Pipes

The Global Plastic Pipes market is segmented by type of plastic pipes into PVC, PE and Others. PVC pipes has more market share as compared to other types of pipes due to there more advantages.

Global Plastic Pipes Market By Type Of Pvc Pipes

The Global Plastic Pipes market is segmented by type of PVC pipes into UPVC, CPVC and PVC-O.

The most commonly used PVC pipes in the market are UPVC pipes as they are commonly used for irrigation systems and pump rooms are required there, along with they are easy to install and safer than their counterparts.

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Global Plastic Pipes Market By Domestic Sales/ Export

The Global Plastic Pipes market is segmented by domestic sales/ export into domestic sales and exports.

Domestic Sales are more as compare to exports when it comes to global level.

Global Plastic Pipes Market By Type Of End Users

The Global Plastic Pipes market is segmented by type of end-user into water and irrigation, industrial and mining, sewage, electricity and others.

Plastic pipes are most commonly used for water supply and irrigation. PVC and PE types are the most commonly used pipes for water supply and irrigation due to their characteristics such as ductility, temperature resistance and good immunity from corrosion.

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Global Plastic Pipes Market

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Two-wheeler aftermarket services industry in India expanded at a CAGR of 7.9% in between FY’17 and FY’22. Will India aftermarket services industry continue this growth trajectory?

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1.  Enhancement of online presence is gaining traction among the existing players

Trends and Developments in Two-wheeler Aftermarket Services

Online Ecosystem

COVID-19 era has witnessed businesses strengthening their digital presence in order to attract consumers as their preferences have shifted from availing services through face-to-face interaction to an online experience. Therefore, automotive aftermarket firms must enhance their digital presence in order to gain visibility among consumers as well offering end to end information's on their platform.

• The two-wheeler aftermarket service and spare parts companies are expanding their digital presence for better visibility among consumers and compete on the basis of brand integration followed by the advent of COVID-19.
• Multi-Brand players such as Hoopy and Garage Works among others have initiated the process of online booking and extending doorstep two-wheeler services to enhance customers convenience.

2. Positive Impact of Reverse Migration during Covid-19

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Due to the COVID-19 pandemic, the capital of a lot of the local garage/unorganized outlet owners were wiped off permanently due to closure of business. Many workers stopped working due to fear of infection which were around 94.7%. Many stopped working as their working site were shut down or closed due to government regulations. As a result of which various daily wage workers from local garages have migrated back to their natives thereby, reducing the accessibility of local garages in comparison to the pre-pandemic time period. This has positively impacted the scope for organized multi-brand players such as Hoopy and Garage Works looking to enter the space and expand its customer base.

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3. Rise in import duty for spare parts such as engine and transmission among others to 15%, serve as an opportunity for boosting domestic auto ancillary manufacturing industry in India

Automotive Mission Plan 2016-2026

• Automotive Mission Plan (AMP) 2016-2026 seeks to outline the trajectory of the advancement of the automotive, two-wheeler and supporting industries such as spare parts ecosystem in India.
• The rise in duty on specific items such as engine & transmission parts amongst others from 7.5-10% to 15% as proposed in the Union Budget FY’20 is expected to boost domestic manufacturing since most of the component manufacturing units are small and medium enterprises (SMEs).
• There is also a reduction in the corporate tax rate to 25% for SMEs with a turnover of less than INR 2,500 Mn annually will benefit the auto ancillary industry in India.
• The country is anticipated to be among the top three automotive industries in the world by 2026. Optimistic outlook for the growth of the automotive and two-wheeler industry contributes in enhancing the business potential for aftermarket players in the ecosystem.

Technological and Regulatory Trends are boosting the Global WMS market: Ken Research

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1. The impact of COVID on the warehouse is going to have a long and lasting effects with increased demand on product deliveries, stores were running to 3PL companies for solutions

Click to Read Full Article: Global WMS market

The market is highly impacted due to disruptions in the supply chain and production was affected by the trend of lean manufacturing strategy leaving many manufacturers with inventory shortages due to restrictions on goods' movement. The lockdowns, social distancing impacted the demand for warehouse management systems from new potential customers as they suffered losses during the pandemic and refrained from new technological investments. However, the market was forecasted to grow at a growth rate of 15.3% in the post-COVID-19 period. Furthermore, as warehouses cope with adjusting inventory counts, making space for work in process (WIP), speeding order delivery, implementing social distancing and decentralization, companies will turn to automated storage and retrieval systems to help reclaim floor space and improve the efficiencies of their workforce.

2. Distribution channels automation, expansion of e-commerce and Omni-channel, mitigation of distribution costs and transitioning towards cloud-based system are the major market drivers

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Companies worldwide are focusing on ramping up levels of automation in order to reduce costs, increase the efficiency and throughput from an existing distribution channel, and mitigate labour problems and other issues. The demand for warehousing has increased in recent years due to the rising trend of online purchasing due to convenience, cost, variety of choices, and lead time. This shift in consumers’ buying behavior has resulted in increased use of real-time warehouse management systems software solutions for efficient order picking, packaging, processing, shipment tracking, and route planning. Further, cloud computing has been one of the fastest growing technologies. The cloud systems lower the cost of IT maintenance, increases information accessibility and provides quicker deployment times for various solutions making room for better accessibility.

3. Technological trends like Automation, IoT, AI, Could computing, AR & VR and Block chain are to continue shaping future of WMS, transforming organizations that embrace these technologies

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Automated systems such as autonomous robots, conveyor belts and drones are being used to increase the speed and accuracy of warehouse operations. Internet of Things is being used in WMS to connect devices, equipment and people. IoT sensors can track and monitor inventory levels, product movement and equipment performance, which can help improve operational efficiency and reduce costs. Moreover, Augmented Reality and Virtual Reality technologies are being used to improve training and safety in warehouses. AR and VR systems can stimulate real-life scenarios and provide workers with immersive training experiences that help reduce accidents and improve overall safety. Furthermore, Block Chain technology is being explored as a means of improving supply chain technology and traceability.

4. Key challenges witnessed by the Global WMS market are expensive technologies, data security, integration with existing systems, compliance with local laws, scalability and flexibility

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Integration with existing systems can be a complex process as different systems may use different data formats, protocols and communication standards. This could lead to delays and impact overall system performance. Moreover, compliance with local regulations such as labor laws, safety regulations can be a significant challenge as regulations can differ between countries and regions, requiring warehouses to adapt their practices and procedures to comply with local laws. Further, WMS can be an expensive technology, especially during implementation and customization. WMS pricing model is split into a subscription model and a license model. The license model has a high cost up front and showcases a higher maintenance cost compared to the subscription model.