Dock and yard management systems market to reach $7.9 billion by 2027
According to a new analyst report, dock and yard management system market to grow at CAGR of 13.4% through 2027
Amid the COVID-19 crisis, the global market for dock and yard management systems (YMS), estimated at $3.3 billion in 2020, is projected to reach a revised size of $7.9 billion by 2027, growing at a compound annual growth rate (CAGR) of 13.4% over the period 2020-2027, according to an analyst report available from ResearchAndMarkets.com.
Warehouse management systems (WMS), one of the segments analyzed in the report, is projected to record 14.8% CAGR and reach $5.3 billion by the end of the analysis period. After an early 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 11% CAGR for the next 7-year period.
The dock and YMS market in the U.S. is estimated at $973.1 million in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of $1.4 billion by the year 2027, with a CAGR of 12.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12% and 11.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.5% CAGR.
