NEW YORK, June 13, 2024 /PRNewswire/ — The global public warehousing market size is estimated to grow by USD 59.14 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.6% during the forecast period. Growing number of smes is driving market growth, with a trend towards rise in automation and implementation of smart warehousing solutions. However, shortage of skilled labor poses a challenge. Key market players include Agility Public Warehousing Co. K.S.C.P, CEVA Logistics S A, Deutsche Bahn AG, Deutsche Post AG, FedEx Corp., Fullers Logistics Ltd., GEODIS, Globe Express Services logistics and Shipping Co., Kenco Group Inc., Kuehne Nagel Management AG, NFI Industries Inc., Penske Corp., PiVAL International, Ryder System Inc., Saddle Creek Logistics Services, The China Fox Group Pty Ltd., United Parcel Service Inc., Warehouse Services Inc., Wincanton Plc, and XPO Inc..
Get a detailed analysis on regions, market segments, customer landscape, and companies – View the snapshot of this report
Forecast period
2024-2028
Base Year
2023
Historic Data
2018 – 2022
Segment Covered
Type (General and Specialized), Application (Manufacturing, Consumer goods, Retail, Healthcare, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)
Region Covered
APAC, North America, Europe, Middle East and Africa, and South America
Key companies profiled
Agility Public Warehousing Co. K.S.C.P, CEVA Logistics S A, Deutsche Bahn AG, Deutsche Post AG, FedEx Corp., Fullers Logistics Ltd., GEODIS, Globe Express Services logistics and Shipping Co., Kenco Group Inc., Kuehne Nagel Management AG, NFI Industries Inc., Penske Corp., PiVAL International, Ryder System Inc., Saddle Creek Logistics Services, The China Fox Group Pty Ltd., United Parcel Service Inc., Warehouse Services Inc., Wincanton Plc, and XPO Inc.
Key Market Trends Fueling Growth
The public warehousing market is experiencing significant growth due to the adoption of automation technologies and smart solutions. Artificial intelligence (AI) and robotic process automation (RPA) are key trends, improving operational efficiency and productivity. Amazon.com leads the way with over 200,000 mobile robots in their warehouses. Public warehouses bear the initial investment for these advanced technologies, allowing end-users to benefit without high costs. As automation increases, public warehouses become an attractive option for businesses.
The public warehousing market is currently experiencing significant growth, with many businesses opting for outsourced storage solutions. Urban areas are seeing a surge in demand for logistics and storage services due to increasing e-commerce sales. The use of technology in warehousing, such as automation and robotics, is becoming more common to improve efficiency and reduce costs.
Sustainability is also a trending topic, with many warehouses implementing green practices to reduce their carbon footprint. Additionally, the need for secure storage solutions is increasing due to the rise in cargo theft. Overall, the public warehousing market is evolving to meet the changing needs of businesses and consumers.
Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report
Market Challenges
The global public warehousing market faces a challenge due to the labor shortage, particularly in the skilled workforce sector. The warehousing industry’s growth has led to a surge in hiring and labor demand, with the US Bureau of Labor Statistics reporting 1.44 million employees in the sector as of July 2021.However, the labor shortage is hindering industry growth, with the need for a skilled workforce to handle advanced technologies and automated processes outpacing the labor pool’s growth. The location of public warehouses, often on the outskirts of cities, makes recruitment difficult and restricts companies from relocating. The labor shortage increases overall costs, keeping wages high and reducing profit margins for companies, especially during peak sales periods.The public warehousing market faces several challenges in today’s business environment. One major challenge is the increasing demand for customized logistics solutions. Customers want flexible storage options and quick access to their inventory.Another challenge is the need for advanced technology to manage and optimize warehouse operations. This includes the use of automation, real-time inventory tracking, and data analytics. Additionally, the market is experiencing intense competition, requiring warehousing providers to offer competitive pricing and high-quality services.Lastly, there are regulatory and compliance issues that must be addressed, such as safety standards and environmental regulations. Overall, the public warehousing market requires innovative solutions to meet the evolving needs of businesses while maintaining efficiency and profitability.
For more insights on driver and challenges – Download a Sample Report
Segment Overview
Type 1.1 General1.2 SpecializedApplication 2.1 Manufacturing2.2 Consumer goods2.3 Retail2.4 Healthcare2.5 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America
1.1 General- The general warehousing segment is the largest in the public warehousing industry, catering to various sectors such as automotive, retail, consumer products, and chemicals. These warehouses do not require temperature control or special handling equipment. The rise of these industries and global trade, along with increasing consumer spending and e-commerce sales, drive the demand for general warehousing. Companies rely on third-party warehouses to avoid investing in their own facilities, making these warehouses strategically located near transportation hubs essential.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report
Research Analysis
The Public Warehousing Market encompasses large, shared facilities where businesses store their General Merchandise under a Contract Storage agreement. These facilities offer various Handling Services, including Packing Services and Transportation Services, making them integral components of the Supply chain industry.
Public warehousing services cater to multiple clients, making them a popular choice for E-commerce businesses and Omnichannel retailers. Data analytics tools, Cloud computing, Automation, Artificial intelligence, and Robotics are increasingly being integrated into Public Warehousing Solutions to enhance efficiency and accuracy. Dedicated warehousing and Third-party logistics services are also offered by providers in this sector to cater to diverse client needs.
Market Research Overview
The public warehousing market encompasses a vast network of facilities that provide storage solutions for various industries and businesses. These warehouses offer flexibility in terms of contract duration and size, making them an attractive option for businesses with fluctuating storage needs. The market is characterized by advanced technology integration, including automated storage and retrieval systems, and real-time inventory management. Sustainability is a growing concern, with many warehouses implementing energy-efficient practices and adopting green technologies.
The market is also driven by the increasing trend towards e-commerce and the need for efficient order fulfillment. Additionally, the market is witnessing a shift towards regional and urban warehousing to reduce transportation costs and improve delivery times. Overall, the public warehousing market plays a crucial role in the supply chain, enabling businesses to optimize their inventory and streamline their logistics operations.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
TypeGeneralSpecializedApplicationManufacturingConsumer GoodsRetailHealthcareOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/public-warehousing-market-size-is-set-to-grow-by-usd-59-14-billion-from-2024-2028–growing-number-of-smes-to-boost-the-market-growth-technavio-302170874.html
SOURCE Technavio
Coin Market3 days ago
Technology5 days ago
Technology5 days ago
Coin Market4 days ago
Technology4 days ago
Coin Market3 days ago