In the heartbeat of global commerce, warehouses stand as a key component to the flow of products, channelling goods from production, storage and consumption. As we step into 2024, the warehouse industry continues to evolve and develop with the new technological advances like the use of AI technology.
In this article, we take a look at some of the most up to date statistics in the warehouse industry, including market overview, trends growth and more. Keep on reading to find out what they are:
2024 Industry Trends:
The warehouse automation market is expected to continue to grow by around 15% annually between now and 2027. (Source: UK Manufacturing Online).
The UK E-commerce industry market size and share analysis is set to reach USD 750.80 billion by 2029. This will have an impact on the demand for warehouse space across the UK. (Source: Mordor Intelligence).
69% of businesses in the transportation and storage sectors have reported using more diverse suppliers in the wake of Britain’s exit from the EU. (Source: Chase Equipment).
By the end of 2023, here has been a 40% jump in demand for UK warehouse workers. (Source: Internet Railing).
Around 44% of companies are planning to invest in artificial intelligence (AI) to streamline their data warehousing [processes and improve the accuracy of their insights. (Source: Astera Software).
74% of supply chain leaders are increasing their investments in technology, with 90% saying they will invest over $1 million. This again will have a significant impact on the running of warehouse operations. (Source: Newcastle).
Past Warehouse Industry Statistics:
At the end of 2022, the biggest jump in demand for warehouse workers was in the North East, while Scotland saw a 60% increase in job advert towards the end of 2022. (Source: Internet Railing).
Around 50% of businesses pinpoint a shortage of warehouse space as their biggest challenge today. (Source: SlimStock).
According to CILT(UK), more than 80% of organisations suffer staff shortages in the warehouse. (Source: CILT UK).
60% of organisations have experienced a shortage of drivers in the past two years. This is where warehouses can help in the distribution of products. (Source: CILT UK).
Overall, we hope these statistics help to show you some of the key trends in the warehouse industry. It’s good to see some of the key data is working hand in hand with the warehouse industry growth.
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