The specialized warehousing and storage market consists of sales of specialized warehousing and storage services by entities (organizations, sole traders and partnerships) that operate warehousing and storage facilities for particular categories of goods that need specialized treatment. A main example is farm product bonded warehousing and storage, farm product private warehousing and storage and grain elevators. Other examples are automobile dead storage, bulk petroleum storage, document storage and warehousing, lumber storage and whiskey warehousing.
The global specialized warehousing and storage market is expected to decline from $61.2 billion in 2019 to $61.1 billion in 2020 at a compound annual growth rate (CAGR) of -0.3%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 10% from 2021 and reach $78.3 billion in 2023.
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Many warehousing and storage companies are using big data analytics as a tool to plan and optimize warehouse operations. Big data analytics refers to the process of examining large sets of data to obtain useful information such as hidden patterns, market trends, unknown correlations and customer preferences.
Big data analyses the location, capacity and flexibility of warehouses to predict customer requirements. It helps in improving warehouse planning and replenishment and creating lean supply chains with sophisticated inventory systems. This maximizes workflow, improves floor utilization and increases operational efficiencies and ROI.
Regional Analysis For Specialized Warehousing And Storage Market:
For the comprehensive understanding of market dynamics, the global Specialized Warehousing And Storage Market is analysed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India and others. Each of these regions is analysed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.
Where is the largest and fastest growing market for the specialized warehousing and storage? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Specialized Warehousing And Storage global market report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the markets historic and forecast market growth by geography. It places the market within the context of the wider specialized warehousing and storage market, and compares it with other markets.
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