India Smart Warehousing Market
India Smart Warehousing Market Size More Than Doubles at Robust CAGR of 14.65%, to Reach USD 6.66 Billion by 2030
Published | 05 January 2024
India Smart Warehousing Market is flourishing due to increasing adoption of technological advancements, a spurring demand for warehousing from thriving e-commerce sector, and government’s supportive initiatives.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Smart Warehousing Market size at USD 2.93 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Smart Warehousing Market size to expand at a CAGR of 14.65% reaching a value of USD 6.66 billion by 2030. India Smart Warehousing Market is propelled by the growing multi-channel distribution networks, an increasing emphasis on environmentally friendly initiatives and rising sustainability measures to reduce waste. The dynamic and globalized nature of supply chain networks further contributes to propelling the market's expansion. Also, the ongoing Industry 4.0 revolution is transforming contemporary warehouse operations through the integration of technologies such as Big Data analytics, Artificial Intelligence, autonomous robotics, augmented reality, and the Internet of Things. The smart warehousing industry is advancing significantly, driven by the increasing popularity of e-commerce and the ongoing process of digitization. Global suppliers are adopting innovative technologies like bar code scanning software, automated guided vehicles, and radio frequency identification technology to enhance and accelerate supply chain networks while minimizing errors. The utilization of these advanced technologies plays a pivotal role in shaping the market's growth and development.
Opportunity: Supply chain optimization
India's dynamic warehouse market is pivotal for achieving supply chain optimization. Over decades, the market transformed from unorganized structures to a recognized asset class. Amid the pandemic, the supply chain model proved resilient, prompting improvisation in last-mile delivery and hybrid models. Anticipated to reach INR 2,872.10 billion by 2027, the India Smart Warehousing market witnesses substantial growth. E-commerce emerges as a major beneficiary, with 3PL players occupying 42% of warehouse leasing space. The manufacturing sector, buoyed by global investors, contributes to increased demand. Grade A warehousing, sustainability considerations, and smart warehouses with automation mark the industry's evolution. Government initiatives and policy reforms enhance investor interest, positioning the sector as a significant player in India's journey to a USD 5 trillion economy by FY25.
Impact of COVID-19 on India Smart Warehousing Market
COVID-19 pandemic had a mixed impact on the India Smart Warehousing Market, disrupting supply chains and influencing both supply and demand dynamics. The long-term effects of the pandemic on warehouses were anticipated, with potential global repercussions from outbreaks or transit delays. Despite challenges, the overall outlook for storage remained positive, driven by the convergence of retail and warehousing that was expedited by COVID-19. E-commerce and warehousing gained significant market share, although concerns about pricing power persisted. Automation, including technologies like Assisted Guided Vehicles (AGVs), forklift automation, and robots, became imperative for operational efficiency in the post-COVID-19 landscape. The pandemic underscored the importance of addressing mega-trends like aging populations, globalization, health and safety, mobility, green logistics, autonomous systems, urbanization, individualization, and digitization for long-term preparedness in the face of challenges.
India Smart Warehousing Market
India Smart Warehousing Market – By Organization Size
Based on organization size, the India Smart Warehousing Market is bifurcated into Small & Medium-sized Enterprises (SMEs)_and Large Enterprises segments. The SMEs segment holds a higher share in the India Smart Warehousing Market by organization size. The prevalent adoption of smart warehousing solutions and services by SMEs stems from their growing need to enhance business operations, expand consumer reach, maintain competitiveness, and reduce expenditures. Moreover, the uptake of smart warehousing services and solutions among SMEs is motivated by the broader trend across various industry verticals to embrace innovative solutions and processes at a more economical cost. This underscores the strategic and cost-effective approach that SMEs are increasingly employing to leverage the benefits of advanced warehousing technologies.
Major players operating in the India Smart Warehousing Market include AWL, AAJ, Armstrong, Falcon Autotech, WareIQ Logistics Private Limited, Mahindra Logistics, and Warehouse Now. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Smart Warehousing Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Smart Warehousing Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- India Smart Warehousing Market, By Component (Hardware, Software, Services); By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises); By Deployment Mode (Cloud, On-Premises); By Industry (Transportation & Logistics, Retail & E-commerce, Food & Beverages, Manufacturing, Healthcare); By Application (Transport Management, Inventory Management, Order Management, Shipping Management); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
Publish Date: January 2024
Increasing adoption of technological advancements, e-commerce sector’s high growth, and the government’s supportive initiatives are projected to propel the expansion of the India Smart Warehousing Market during the forecast period between 2024 and 2030.
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