Global Dock and Yard Management Systems Market to Reach $7.3 Billion by 2026

Dock and yard management system refers to a software solution designed for monitoring the movement of trailers and trucks and facilitating seamless loading as well as unloading of goods across a wide range of facilities, including manufacturing units, distribution centers, warehouses, airlines cross-docks, and fulfillment centers. These solutions facilitate in providing real-time information regarding the trailer locations within the yard as well as enabling yard employees with the movement of trailers from the staging area to the docks for filling orders efficiently. In recent years, dock and yard management systems are gaining traction as a replacement for various redundant manual processes, including dock booking approvals, carrier movement tracking, and truck dock allocations. Dock and yard management systems, which can facilitate in streamlining the complexities associated with dock and yard operations, includes transportation management systems and warehouse management systems.

Amid the COVID-19 crisis, the global market for Dock and Yard Management Systems estimated at US$3.6 Billion in the year 2020, is projected to reach a revised size of US$7.3 Billion by 2026, growing at a CAGR of 12.5% over the analysis period. Warehouse Management Systems (WMS), one of the segments analyzed in the report, is projected to grow at a 13.9% CAGR to reach US$5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Transportation Management Systems (tms) segment is readjusted to a revised 10.6% CAGR for the next 7-year period. This segment currently accounts for a 44.5% share of the global Dock and Yard Management Systems market.

The U.S. Market is Estimated at $1.2 Billion in 2021, While China is Forecast to Reach $764.4 Million by 2026

The Dock and Yard Management Systems market in the U.S. is estimated at US$1.2 Billion in the year 2021. The country currently accounts for a 31.99% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$764.4 Million in the year 2026 trailing a CAGR of 14.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.7% and 11.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.3% CAGR while Rest of European market (as defined in the study) will reach US$863 Million by the close of the analysis period.

The market is poised to witness a robust growth over the next few years, primarily attributed to the growing demand for solutions that can streamline logistics, maximize logistics and operational efficiency of warehouses, and minimize costs and freight delivery time. Logistics management systems as well as technologies are continuously evolving in line with ever-evolving customer requirements. Rising pressure on logistics companies for providing better services at much lower cost has resulted in an increased adoption and deployment of dock and yard management systems, as these systems facilitate in enhancing accuracy in warehouses and distribution centers, which in turn helps in reducing additional costs incurred during the operations at these facilities. There has been a significant growth in the volume of transported goods globally, which along with just-in-time operational models have placed a considerable amount of pressure on logistic hubs, such as shipping yards. The continuous increase in both inbound as well as outbound operations at yards across the globe has resulted in an increased demand for reliable and efficient dock and yard management systems that can help in reducing the usual and expensive logistics issues currently faced by yard managers.

Technological advancements, growing digitalization, and increasing focus on enhancing the efficiency of supply chain management are some other key factors that are driving growth in the global dock and yard management systems market. The increased requirement for legal compliance with security regulations at docks and yards across the globe is also significantly boosting the demand for dock and yard management systems. The rapid growth in the ecommerce industry, coupled with the growing demand for a fast delivery of goods for gaining a competitive edge, has created an increased demand for transportation and warehouse management systems. This in turn is anticipated to further propel the demand for dock and yard management systems over the next few years. In addition, the growing demand for automated and real-time approaches for management of logistics and warehouse operations are likely to augment growth in the market in the near future.

However, requirement of a high upfront cost for on-premises deployments and limited awareness regarding the benefits of advanced cloud-based offerings are expected to hinder the market growth in the near future. In addition, lack of system integration capabilities and scalability of handling the growing workload with increasing volumes of data is also anticipated to restrain growth in the market over the next few years. Growing deployment of cloud-based dock and yard management systems in the warehouse and logistics sectors, especially among small- and medium-sized businesses, is likely to offer tremendous growth opportunity for the dock and yard management systems market in the near future.

By Application, Transportation & Logistics to Reach $3.1 Billion by 2026

Global market for Transportation & Logistics (Application) segment is estimated at US$1.4 Billion in 2020, and is projected to reach US$3.1 Billion by 2026 reflecting a compounded annual growth rate of 13.9% over the analysis period. Europe constitutes the largest regional market for Transportation & Logistics segment, accounting for 30.4% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 16.3% over the analysis period, to reach US$423.2 Million by the end of the analysis period.