Asia Pacific Smart Warehousing Market Industry Trends & Forecast Report, 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia Pacific Smart Warehousing Market size at USD 3.71 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Asia Pacific Smart Warehousing Market size to grow at a CAGR of 12.37% reaching a value of USD 7.47 billion by 2029. A growing e-commerce industry and the increasing use of automation and robots in the warehouse sector are key growth drivers for the Asia Pacific Smart warehouse market. Moreover, over the forecast period, it is expected that the growing emphasis on reducing carbon emissions will offer profitable growth opportunities to the Asia Pacific Smart Warehousing Market.
Opportunity: Rising Adoption of Innovative Technological Advancements
Technology companies are increasing their efforts in R&D and new product development to address the diverse needs of the warehousing sector, as the market for smart warehousing is growing across the Asia Pacific region. For instance, Alibaba Group-owned Chinese logistics firm Cainiao has unveiled smart warehousing solutions that are stated to reach 99% efficiency in package handling and sortation. The firm also announced the opening of a 20,000-square-meter smart warehouse in Southeast Asia, partnered with Flash Express in Thailand. The warehouse is outfitted with more than 100 AGVs to enhance automation capabilities. It is projected that throughout the period in analysis, these advancements will strengthen the Asia Pacific smart warehousing market.
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Asia Pacific Smart Warehousing Market – By Technology
Based on technology, the Asia Pacific Smart Warehousing Market is segmented into automated guided vehicles (AGV), IoT and analytics, RFID, AI in warehouses, blockchain, and others. AGVs account for the highest share of the Asia Pacific Smart Warehousing Market by technology. The AGV technology is capable of reducing labor and improving workflow in inventory management. Various types of AGVs, such as stackers, tow tractors, and pallet handlers, are employed to overcome the shortage of labor in warehousing, which has significantly contributed to its growth in the Asia Pacific Smart Warehousing Market.
Impact of Escalating Geopolitical Tensions on Asia Pacific Smart Warehousing Market
The intensifying geopolitical tensions in the world disrupted the growth of the Asia Pacific smart warehousing market. The raging war between Israel and Palestine sends shockwaves across various industries, particularly in the Middle Eastern countries, transcending geographic boundaries and affecting businesses globally. The conflict between Israel and Palestine has been a longstanding, deeply entrenched geopolitical issue. On October 07, 2023, Hamas, a Palestinian military organization, in a surprise and heavy attack, struck Israel with thousands of rockets and infiltrations. In response, the prime minister of Israel declared war against Hamas and anticipated that the war would be ‘long and difficult.’ As of November 22, 2023, it was estimated that more than 14,500 people had been killed in Gaza since the start of the war.
The conflict between Israel and Palestine disrupted the semiconductor production in Israel, which is a crucial component in various advanced technologies, such as IoT sensors. Organic semiconductor integrated circuits are required for some IoT applications. A smart warehousing facility is established through smart sensors, robots, scanners, and other equipment. However, the shortage of semiconductors due to lack of production and disruptions in the supply chain is directly hindering the adoption of smart warehousing in the APAC region.
Competitive Landscape
Major players operating in the Asia Pacific Smart Warehousing Market include IBM Corporation, Oracle Corporation, SAP SE, Infor, Inc., Softeon, Manhattan Associates, Inc., PTC, Inc., Tecsys, Inc., Epicor Software Corporation, and Toshiba Global. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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