The global warehousing and storage market size is expected to grow from US$426.90 billion in 2020 to US$627.95 billion in 2025 at a rate of 8.0%. The global warehousing and storage market share is then expected to grow at a compounded annual growth rate (CAGR) of 7.5% from 2025 and reach US$901.82 billion in 2030.
In addition, warehouse and storage companies are expanding their warehouse management to big data analytics as a tool to optimize their warehouse operations. According to the warehousing and storage market analysis, big data analytics refers to a process of examining large sets of data to obtain useful information.
For instance, in December 2020, Amazon Web Services Inc. announced three new analytics capabilities that help improve the performance of Amazon Redshift data warehouses and allow customers to move and combine data easily across data stores.
Likewise, warehousing company Deutsche Post DHL Group is optimizing the e-fulfillment for online shops during COVID-19 in 2020 with its play software solutions that use algorithm analysis and data science. The analytical software allows the company to optimize picking routes and warehouse staff allocation.
The Business Research Company (TBRC)’s warehousing and storage market report shows that the increasing development of IoT devices and features is driving the growth of the market in the forecast period. The IoT-powered warehouse facility allows fast collection and analysis of inventory data and helps staff members to track inventory volumes through a range of connected sensors and RFID tags.
According to the warehousing and storage market research, IoT-powered warehouse and storage facility is driving the growth of the market in the forecast period.
Major players covered in the global warehousing and storage industry are Deutsche Post DHL Group, Kuehne + Nagel International AG, XPO Logistics Inc., Geodis Group, and DSV A/S.
TBRC’s warehousing and storage market segmentation is divided by type into general warehousing and storage, refrigerated warehousing and storage, specialized warehousing and storage, farm product warehousing and storage, by end-user into retail industry, manufacturing industry, consumer goods industry, food & beverage industry, healthcare industry, e-commerce, other end-users.