Dock and Yard Management Systems Market: Introduction
The global dock and yard management systems market is anticipated to reach ~US$ 9 Bn by 2027. The dock and yard management systems market is projected to expand at a CAGR of ~13% from 2019 to 2027 in terms of revenue. Growing requirements for cost and time savings solutions from end users, to offer better services at lower costs in recent years is expected to lead to the growth of the dock and yard management systems market during the forecast period. The dock and yard management systems market in Asia Pacific is expand at a higher CAGR during the forecast period.
Technological Advancement Drives Dock and Yard Management Systems Market
Technological advancements have led to the adoption of dock and yard management systems as it facilitates accuracy in warehouses and inventory and distribution centers, thereby reducing extra costs involved in the processes. Warehouse management system (WMS) and transportation management system (TMS) facilitate labor utilization by 10% – 35%, increases floor space utilization by 10%-30%, and improves shipping accuracy by 99%, thus enabling cost and time saving with better work output. Globalization and rising demand for advanced WMS and TMS solutions from emerging markets of the Asia Pacific region are prime factors driving the demand for dock and yard management systems. Furthermore, growth in e-Commerce industry coupled with quick delivery of goods in order to gain competitive advantage is expected to lead to high demand for warehouse and transportation management systems during the forecast.
Dock and Yard Management Systems Market: Segmentation
The global dock and yard management systems market has been segmented in terms of type, function, application, and region. Based on type, the dock and yard management systems market has been classified into warehouse management system (WMS) and transportation management system (TMS). Warehouse management system segment dominated the global dock and yard management systems market in 2018 and is expected to maintain its dominance during the forecast period. Based on function, the dock and yard management systems market has been classified into dock management and yard management. Dock management has been further sub-classified into dock door management and dock appointment scheduling.
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Yard management has been sub-classified into fleet monitoring, equipment management, and yard resource management. Based on application, the dock and yard management systems market has been categorized into transportation & logistics, manufacturing, grocery, retailing and parcel post, and others. The transportation & logistics sector is expected to account for leading share in the global dock and yard management systems market. The sector is expected to continue its dominance in the coming years as it is realizing the urgent need to manage day to day operations.
Dock and Yard Management Systems Market: Regional Outlook
In terms of region, the global dock and yard management systems market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the dock and yard management systems market during the forecast period. The U.S. is expected to lead the North America dock and yard management systems market.
The market in the U.S. holds major share of the North America region. This is due to proliferation of cloud-computing technologies, and increasing use of RFID technology in dock and yard systems, which has fueled market momentum in the U.S. Software vendors in the U.S. are collaborating with RFID technology providers to develop advanced, integrated solutions and in turn ensure better returns on R&D investments. The dock and yard management systems market in Asia Pacific is expected to expand at a higher CAGR over the forecast period. The market in Middle East & Africa and South America is also projected to expand moderately over the forecast period.
