Latest news with #EnterpriseResourcePlanning
Business Wire
2 days ago
- Business
- Business Wire
Acumatica to be Acquired by Vista Equity Partners
BELLEVUE, Wash.--(BUSINESS WIRE)-- Acumatica, a leading provider of cloud ERP solutions for small and mid-sized businesses, today announced it has signed a definitive agreement to be acquired by Vista Equity Partners ('Vista'), a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. "With Vista's support and track record of growing software companies, we believe we're positioned to accelerate product development, deepen partner engagement and extend our impact." Acumatica's cloud-native Enterprise Resource Planning ('ERP') platform enables a range of mid-market organizations to digitally manage and automate mission-critical processes from core financial management to payroll and Customer Relationship Management ('CRM') in a single, unified system. Built on an open, flexible architecture, the platform delivers AI-driven real-time visibility across the business, enabling users to make faster and more strategic business decisions. Acumatica offers industry-specific functionality tailored to complex sectors, including manufacturing, distribution, construction, retail and professional services. 'Our partnership with Vista not only marks a significant milestone in Acumatica's history but also is a strong endorsement of the real-world value we deliver to the market and our customers,' said John Case, CEO of Acumatica. 'Vista's investment can help power our AI-first product strategy and further strengthen our thriving Community of partners, developers and customers, working together to find better ways to work and redefine business management software for everyone. With Vista's support and track record of growing software companies, we believe we're positioned to accelerate product development, deepen partner engagement and extend our impact.' 'Acumatica is an ascendant, cloud-native ERP platform that has become a leading provider of mission-critical tools that enable small and mid-sized businesses to run more efficiently and effectively,' said Monti Saroya, co-head of Vista's Flagship Fund and senior managing director. 'With its industry-leading, strong partner ecosystem and growing presence in markets embracing cloud-based business technology, we believe Acumatica is well-positioned to lead the shift toward modern, integrated ERP solutions.' 'Acumatica has established a strong market position with differentiated, flexible and industry-specific ERP solutions as well as a uniquely dedicated channel of value-added resellers,' said John Stalder, managing director at Vista. 'We're excited to partner with Acumatica and its outstanding community of partners to drive continued growth and product innovation and to deliver even greater value to customers worldwide.' Vista will acquire Acumatica from EQT, which will no longer be an investor in the company. Terms of the transaction were not disclosed. Moelis & Company served as financial advisor to Acumatica. Simpson Thacher & Bartlett LLP acted as legal counsel to Acumatica, and Greenberg Traurig LLP served as legal counsel to Vista. About Acumatica Acumatica Cloud ERP is a comprehensive business management solution that was born in the cloud and built for more connected, collaborative ways of working. Designed explicitly to enable small and mid-market companies to thrive in today's digital economy, Acumatica's flexible solution, customer-friendly business practices and industry-specific functionality help growing businesses adapt to fast-moving markets and take control of their future. For more information, visit or follow us on LinkedIn. About Vista Equity Partners Vista is a global technology investor that specializes in enterprise software. Vista's private market strategies seek to deliver differentiated returns through a proprietary and systematic approach to value creation developed and refined over the course of 25 years and 600+ transactions. Today, Vista manages a diversified portfolio of software companies that provide mission-critical solutions to millions of customers around the world. As of December 31, 2024, Vista had more than $100 billion in assets under management. Further information is available at Follow Vista on LinkedIn, @ Vista Equity Partners, and on X, @ Vista_Equity.
Yahoo
3 days ago
- Business
- Yahoo
Basware: CFOs and CIOs clash as SAP migration deadline looms
ERP migrations exposing companies to compliance breaches amid $100bn transformation wave CHARLOTTE, N.C., May 28, 2025 /PRNewswire/ -- CFOs and CIOs are fighting over finances and key resource allocation amid tariffs and the looming SAP S/4HANA migration deadline fast-approaching in 2027, analysis reveals from Basware. With over 22,000 companies worldwide impacted by the upcoming migration, the urgency to act before the deadline grows each day. Tighter budgets causing migration uncertainty According to data, approximately 61% of SAP customers using older Enterprise Resource Planning (ERP) systems have not yet licensed S/4HANA. As the latest version of SAP's business management software, S/4HANA represents a significant transformation – one that many enterprises still need to undertake as the 2027 migration deadline approaches. Failure to migrate by the cut off will result in the loss of official SAP support, and reduced access to future product innovations – both of which can lead to increased operational costs and technical risk for businesses. The SAP S/4HANA migration market represents a $100bn opportunity, as enterprises look to modernize their systems, streamline operations and enhance compliance. Amid ongoing global economic uncertainty, enterprises are under pressure to scrutinize every dollar of spend, from finance operations to new AI investments, causing a rift between CFOs and CIOs who are battling to align on spending priorities. "For some, SAP S/4HANA is just a technology migration. But forward-thinking enterprises are taking the opportunity to drive real, wide-scale transformation, focusing on ROI, simplifying their ERP landscape and establishing a clean digital core" said Mark McCarthy, CRO of Basware. "As the great SAP migration continues, the real opportunity is making the investment count – and that means aligning finance and IT around outcomes that matter." ERP migrations costing hundreds of millions over several years ERP systems such as Oracle NetSuite, Microsoft Dynamics 365 and SAP S/4HANA Cloud are used to manage the entire IT process of businesses by tracking all aspects of production, distribution, financials, HR and back office. ERP upgrades can cost large enterprises upwards of $100 million, rising to $500 million depending on the complexity and size of the organization. These projects typically span multiple years, involving significant resources for software, implementation, training and ongoing support. For CFOs, this creates financial holes due to uncertain ROI, business disruption risks from potential downtime, and hefty implementation fees for the technology. Add to that skills gaps for SAP talent, the cost of training, and the lack of financial transparency during migration, it's more important than ever for CFOs to gain complete control over functions such as invoicing, especially when integrating platforms into ERP environments. Meanwhile, CIOs are battling with opposing challenges including outdated systems, poor data quality, which can lead to errors and inefficiencies. Where boardroom alignment can be found is in artificial intelligence, with 75% of CFOs advocating for greater investment in AI to automate critical financial processes such as e-invoicing compliance and regulation – which play a pivotal role in the broader SAP S/4HANA migration strategy. McCarthy added: "Every month of delay brings greater compliance risk, uncertainty and escalating costs. Forward-thinking enterprises are acting now – extending their ERP strategy with specialist solutions that align to SAP's clean core principles. Basware is already supporting over 600 enterprises running SAP ERP systems, including over 100 large organizations using Basware alongside SAP S/4HANA. By managing this complexity with Invoice Lifecycle Management platforms, they're able to achieve full automation, compliance, and visibility in accounts payable." How companies are navigating ERP migrations The 2027 migration deadline is a top priority for companies, including healthcare wellness company Empire Portfolio Group, materials manufacturer KION and industrial minerals producer Imerys. "We needed a state-of-the-art process to complement our Shared Services Centres rollout and prepare the implementation of SAP S/4HANA," said Christophe Boden, VP of Shared Services and Continuous Improvement at Imerys. "Basware emerged as the ideal solution provider to digitize our AP (accounts payable) operations and drive process efficiencies." North American manufacturing giant Mauser has also overhauled its accounts payable operations in light of the upcoming deadline, integrating Basware with its existing SAP ERP system. The 'plug and play' approach allowed Mauser to streamline invoice processing without adding complexity – keeping its ERP setup simple while gaining greater automation, visibility and faster approvals. As a result, approval time for non-PO invoices from 3.6 days to 1.6 days. By integrating Invoice Lifecycle Management solutions into its ERP system, Mauser has significantly reduced manual touchpoints, cutting the time spent on matching purchase orders and invoices by 90% and reducing overall manual matching by 71%. To help enterprises navigate ERP migrations, Deloitte and Basware recently expanded their partnership with a new, practice-based Center of Excellence, in response to increasing demand driven by SAP S/4HANA migrations. Combining Deloitte's deep finance and compliance expertise with Basware's platform, the collaboration is designed to accelerate digital finance transformation and ensure ERP migration projects are complete before the 2027 deadline hits. About Basware Basware is how the world's best finance teams gain complete control of every invoice, every time. Our Intelligent Invoice Lifecycle Management platform ensures end-to-end efficiency, compliance and control for all invoice transactions. Powered by the world's most sophisticated invoice-centric AI – trained on over 2 billion invoices – Basware's Intelligent Automation drives real ROI by transforming finance operations. We serve 6,500+ customers globally and are trusted by industry leaders including DHL, Heineken and Sony. Fueled by 40 years of specialized expertise with $10 trillion in total spend handled, we are pioneering the next era of finance. With Basware, Now it all just happens.™ Glossary of Terms SAP S/4HANA - an enterprise resource planning (ERP) system from SAP unifying business operations in real-time using AI and machine learning. It acts as a single business suite bringing together core functions including finance, sales, procurement, marketing, HR and more. ERP – business management software that integrates and automates core business processes in a single system. ERP Migrations – the process of moving to a new ERP system, transferring data, business processes, configurations and integrations. Manual Touchpoints (in the release context) - managing invoice processing on the edge with Basware, rather than customizing the SAP core. SAP 'Clean Core' - an approach that encourages enterprises to avoid over-customization of the ERP system, keeping the core standardized for easier upgrades, stability and innovation adoption. 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Mint
4 days ago
- Mint
Dodgy aides: What can we do about AI models that defy humans?
Artificial intelligence (AI) going rogue has been the stuff of dystopic science fiction. Could fiction be giving way to fact, with several AI models reportedly disobeying explicit instructions to shut down when a third-party tester asked them to? On a recent test done by Palisade Research, the most glaring refusenik belonged to OpenAI, with some AI models of Google and Anthropic also showing a tendency to evade shutdown. It is not yet time to rewatch Terminator 3: Rise of the Machines (2003) for a vivid nightmare scenario of malign AI running amok, but it would be a good idea to adopt caution while integrating AI bots and modules into Enterprise Resource Planning systems. If something goes wrong, the system would likely need a reboot; and if its AI bits scuttle a shutdown, a digital hostage crisis could arise. Also Read: Rahul Matthan: Brace for a wave of AI-enabled criminal enterprise That's what users of AI have to worry about. Developers and regulators of AI, meanwhile, must accelerate efforts to address the challenges thrown open by the rise of AI that can defy human orders. Silicon Valley is used to privileging speed-to-market over full system integrity and safety. This urge is baked into the business model of multiple startups in pursuit of similar wonders, with venture capital breathing down executive necks to play the pioneer in a potentially winner-takes-all setting. Investors often need their hot ventures to prove their mettle double-quick so that they can either cash out or stem losses before moving on to other bets. 'Move fast and break things' is fine as a motto while developing apps to share videos, compare pet pranks or disrupt our online lives in other small ways. Also Read: When AI gets a manager, you know the game has changed But when it comes to AI, which is rapidly being given agency, nobody can afford to be cavalier about what may end up broken. If one thing snaps, multiple breakdowns could follow. AI is given to hallucination and training input biases. It can also learn the wrong thing if it is fed carelessly crafted synthetic data, for example, like broad estimates with low fidelity to actual numbers. This problem goes by the bland title of 'misalignment.' Today, what risks going askew is the course taken by AI from the path planned for AI development. Among the techniques used to keep alignment in check, there is one whose name harks back to war games of the Cold War era: Red Teaming. The Red Team represented the bad guys, of course, and the aim was to get into the head of the enemy and anticipate its conduct. Applied to AI, it would entail provoking it to expose its follies. If the AI models that dodged orders to shut down had been Red Teamed properly while under development, developers need to come up with better ways to exorcise their software of potential demons. If the makers of these tools fail to keep AI aligned with desirable outcomes, then regulation would be the only security we have against a big threat in the making. Also Read: Biases aren't useless: Let's cut AI some slack on these The EU's regulatory approach to AI invites criticism for being too stiff for innovation to thrive, but it is spot-on in its demand for safe, transparent, traceable, eco-friendly and non-discriminatory AI. Human oversight of AI systems, as the EU requires, should be universally adopted even if it slows down AI evolution. We must minimize risks by specifying limits and insisting on transparency. In all AI labs, developers and whistleblowers alike should know what lines must not be crossed. Rules are rarely perfect at the outset, but we all have a stake in this. Let's ensure that AI is here to serve and not subvert human welfare.
Business Upturn
15-05-2025
- Business
- Business Upturn
The Warehouse Management Revolution: Digital Transformation
Fluctuating order volumes and increasing consumer expectations have put unprecedented pressure on supply chains across various industries. To meet these demands, modern fulfillment centers rely on a robust Warehouse Management System (WMS) that acts as the brain of the entire operation, overseeing and managing each step in the automated warehouse process. The journey of warehouse management software from its humble beginnings to the sophisticated systems we see today represents one of the most significant technological evolutions in supply chain history. This transformation has revolutionized how businesses handle inventory, fulfill orders, and manage distribution centers. The Early Days: Manual Systems and Basic Tracking In the early stages of warehouse management, operations were predominantly manual. Inventory tracking relied on paper records, physical counts, and spreadsheets. These rudimentary systems were labor-intensive, error-prone, and lacked real-time visibility into warehouse operations. The limitations of manual systems became increasingly apparent as businesses grew and consumer expectations evolved. The need for faster fulfillment, accurate inventory tracking, and efficient space utilization drove the development of the first digital warehouse management solutions in the 1970s and 1980s. The Digital Transition: First-Generation WMS The first generation of digital warehouse management software focused primarily on basic inventory control and order processing. These systems began replacing paper-based methods with computer-based tracking, offering improved accuracy and some degree of automation. However, these early systems operated in isolation, with limited integration capabilities and minimal automation features. They served as digital record-keeping tools rather than comprehensive management solutions. The Integration Era: Comprehensive WMS Solutions As technology advanced through the 1990s and early 2000s, warehouse management software evolved into more comprehensive solutions that could integrate with other business systems. This integration era marked a significant advancement as WMS began to connect with Enterprise Resource Planning (ERP) systems, Transportation Management Systems (TMS), and other critical business applications. During this period, WMS expanded beyond simple inventory tracking to include more advanced features such as: Labor management Yard management Wave planning Cross-docking capabilities Basic performance analytics This integration allowed for smoother information flow between different business functions, reducing data silos and improving overall efficiency. The Modern WMS: Core Components and Capabilities Today's warehouse management software has evolved into a sophisticated ecosystem of interconnected components, each serving specific functions while working harmoniously to optimize warehouse operations. The modern WMS consists of several key elements that work together as the brain of the warehouse operation. The core WMS is the central nervous system, overseeing material flow, optimizing storage allocation, tracking inventory, and seamlessly fulfilling orders. It begins working when new materials arrive, automatically adding incoming items to inventory and assigning them to optimal storage locations based on size, shape, and demand patterns. Key Components of Modern Warehouse Management Software: Inventory Management Software (IMS) – Provides real-time tracking of all items in the warehouse, helping companies avoid inventory shrinkage, fulfillment delays, and operational inefficiencies by maintaining complete visibility of stock levels. IMS handles everything from end-to-end tracking and automated reordering to returns management and predictive analysis. – Provides real-time tracking of all items in the warehouse, helping companies avoid inventory shrinkage, fulfillment delays, and operational inefficiencies by maintaining complete visibility of stock levels. IMS handles everything from end-to-end tracking and automated reordering to returns management and predictive analysis. Order Management Software (OMS) – Synchronizes each function of the fulfillment process, from order placement to delivery. This component identifies the optimal fulfillment center for each order, sends picking instructions, communicates with carriers, updates customers, and facilitates returns when necessary. – Synchronizes each function of the fulfillment process, from order placement to delivery. This component identifies the optimal fulfillment center for each order, sends picking instructions, communicates with carriers, updates customers, and facilitates returns when necessary. Warehouse Control System (WCS) – Acts as a traffic controller in automated warehouses, monitoring and controlling conveyor systems, automated storage and retrieval systems, robots, and picking stations. It optimizes material flow by adapting to changes, rerouting orders to avoid bottlenecks, and assigning tasks to logical picking stations. – Acts as a traffic controller in automated warehouses, monitoring and controlling conveyor systems, automated storage and retrieval systems, robots, and picking stations. It optimizes material flow by adapting to changes, rerouting orders to avoid bottlenecks, and assigning tasks to logical picking stations. Warehouse Execution System (WES) – This system creates an optimal balance between human workers and automation by assigning tasks based on priority and resource availability. It helps identify inefficiencies, optimize labor management, and create a flexible, responsive warehouse environment. Technology Integrations: Enhancing WMS Capabilities Modern warehouse management systems don't operate in isolation but integrate with various technologies to enhance their capabilities and deliver greater value to organizations. These integrations create a connected ecosystem that extends beyond the warehouse walls. Key Technology Integrations for Enhanced WMS Performance: Automated Data Collection – Technologies like RFID and barcode scanning enable real-time inventory tracking without manual counts, helping locate products quickly, minimize search time, and accurately log inventory movements. – Technologies like RFID and barcode scanning enable real-time inventory tracking without manual counts, helping locate products quickly, minimize search time, and accurately log inventory movements. Transportation Management System (TMS) – Streamlines outbound logistics by planning optimal delivery routes, finding the best carrier rates, tracking deliveries, and maximizing truck space utilization to ensure products reach customers efficiently. – Streamlines outbound logistics by planning optimal delivery routes, finding the best carrier rates, tracking deliveries, and maximizing truck space utilization to ensure products reach customers efficiently. Labor Management Software – Monitors workforce performance, adjusts shift schedules, and provides performance insights that allow managers to optimize resource allocation and adapt to workforce fluctuations, addressing the challenge of rising labor costs. – Monitors workforce performance, adjusts shift schedules, and provides performance insights that allow managers to optimize resource allocation and adapt to workforce fluctuations, addressing the challenge of rising labor costs. Enterprise Resource Planning (ERP) Integration – Connects warehouse operations with broader business functions such as finance or procurement, enabling real-time cost tracking, demand forecasting, and automated reordering based on sales trends. AI, Machine Learning, and Seamless Automation As warehouse management software continues to evolve, several emerging technologies are shaping its future. The next generation of WMS will leverage advanced technologies to create even more intelligent, adaptable, and efficient warehouse operations, enabling seamless warehouse automation across supply chains. Artificial intelligence and machine learning are revolutionizing warehouse management by taking predictive analysis to new levels. These technologies help companies create fully scalable fulfillment centers that can adapt instantly to changes in demand, reduce labor costs, and overcome workforce challenges through smarter resource allocation. The advancement of warehouse robotics and AI enables fully autonomous 'lights-out' warehouses that can operate 24/7 with minimal human intervention. These facilities use pre-programmed robots and IoT sensors to manage everything from picking to packing and shipping, dramatically increasing throughput while reducing operational costs. Mobile technologies are making WMS control faster and more accessible for warehouse managers and employees. This mobility boosts productivity and creates new opportunities for workers to manage operations on the go, transforming how decisions are made and implemented within the warehouse environment. Future WMS solutions will also help companies more effectively synchronize with third-party suppliers and carriers. This enhanced integration will enable businesses to pivot quickly in response to supply chain disruptions and maintain operational continuity even in challenging market conditions. Modular, adaptable software solutions like TGW Logistics' WERX platform allow companies to future-proof their operations. These customizable systems can evolve with changing business needs without requiring complete system overhauls, providing a sustainable approach to warehouse management technology. The Business Impact: Beyond Efficiency The evolution of warehouse management software has delivered benefits beyond operational efficiency, transforming how businesses compete in today's market environment. Key Business Benefits of Advanced WMS Solutions: Cost Reduction – Modern WMS solutions significantly reduce operational costs by optimizing inventory levels, reducing labor requirements, minimizing errors, and improving space utilization. – Modern WMS solutions significantly reduce operational costs by optimizing inventory levels, reducing labor requirements, minimizing errors, and improving space utilization. Enhanced Customer Experience – Faster, more accurate order fulfillment directly translates to improved customer satisfaction, enabling companies to meet growing consumer expectations for rapid delivery and perfect order accuracy. – Faster, more accurate order fulfillment directly translates to improved customer satisfaction, enabling companies to meet growing consumer expectations for rapid delivery and perfect order accuracy. Scalability and Adaptability – Advanced warehouse management software allows businesses to scale operations up or down without proportional increases in costs or complexity, providing crucial flexibility in today's unpredictable marketplace. – Advanced warehouse management software allows businesses to scale operations up or down without proportional increases in costs or complexity, providing crucial flexibility in today's unpredictable marketplace. Data-Driven Decision Making – Rich analytics enable more informed decision-making across the organization, from inventory planning to workforce management, allowing companies to anticipate challenges rather than react to them. Strategic Advantage: The Future of Warehouse Management The evolution of warehouse management software reflects the broader digital transformation happening across industries. What began as simple inventory tracking has developed into comprehensive systems that orchestrate every aspect of warehouse operations. As we look to the future, integrating AI, machine learning, and autonomous technologies promises to push the boundaries of what's possible in warehouse management even further. For businesses looking to stay competitive in the rapidly changing logistics landscape, embracing these technological advancements isn't optional—it's essential. The right warehouse management software transforms a simple warehouse into a highly efficient fulfillment center. Whether implementing Order Management Software or a Warehouse Execution System, an integrated solution paves the way to faster, more accurate operations that can adapt to the challenges of tomorrow's marketplace. In an era where consumer expectations continue to rise and supply chains grow increasingly complex, warehouse management software has evolved from a basic operational tool to a critical strategic asset. Companies that leverage these advanced systems gain both efficiency and a competitive edge that positions them to thrive in the digital economy.
Yahoo
13-05-2025
- Business
- Yahoo
Forklift Market to Exhibit $154.99 Billion Revenue Opportunity by 2030 - Grand View Research, Inc.
SAN FRANCISCO, May 13, 2025 /PRNewswire/ -- The global forklift market size is estimated to reach USD 154.99 billion by 2030, expanding at a CAGR of 13.7% from 2025 to 2030, according to a new report by Grand View Research, Inc. The e-commerce industry has experienced significant growth due to factors such as increased disposable income, widespread internet access, and enhanced shopping convenience. This surge in online shopping, coupled with unpredictable shipping and shopping patterns, as well as direct-to-customer shipments, has led to a substantial increase in retail sales. Hence, this growth in retail sales has brought about a noticeable transformation in warehouse operations. Warehouses are tasked with fulfilling substantial orders for individual items. This shift necessitates greater efficiency among warehouse workers and forklifts in the processes of locating, selecting, and transporting goods within the warehouse space. Manufacturers such as Toyota Material Handling and Hyster-Yale Materials Handling, Inc. are focusing on investing heavily in R&D activities to manufacture technologically advanced autonomous forklifts. Hyster-Yale Materials Handling, Inc. integrates forklifts with systems such as Enterprise Resource Planning (ERP) and Warehouse Management System (WMS), offering employees a complete real-time view of the automated forklift. In addition, manufacturers aim to reduce the dependency of autonomous forklifts on guide wires, magnets, and lasers. Autonomous forklifts provide stable and consistent performance. These machines may reduce the cost of finding as well as onboarding a new workforce. They decrease product damage and reduce the ergonomic impact of physically demanding and monotonous work tasks for warehouse workers. Request a free sample copy or view report summary: Forklift Market Forklift suppliers are constantly upgrading the technologies used in forklifts to provide advanced features, such as operator assist, improved ergonomics, and onboard programming and diagnostics. For instance, in October 2022, Toyota Material Handling (TMH), a forklift manufacturer and warehousing solutions provider, launched an updated version of its 3-Wheel Electric Forklift featuring Toyota Assist's SEnS+ pedestrian detection technology to detect objects and pedestrians within the detection range. Other features included enhanced energy efficiency to allow for a 40% longer run time on a single charge, an auto power mode to detect slopes and automatically switch to a higher power mode to maintain speed, and a lithium-ion battery to minimize maintenance costs and reduce downtime for improved productivity. These enhancements were designed to enable operators to be more productive while incurring a lower cost of ownership over the forklift's lifespan. Forklift Market Report Highlights: The class 3 segment accounted for the largest market share of 44.2% in 2024. Due to the growing demand from small and medium-sized warehouses for material loading and unloading, the market is anticipated to gain momentum. The below 5 segment is expected to register the fastest CAGR over the forecast period. The segment growth is owing to their versatility, compactness, and cost-effectiveness, among others making them a valuable asset for end-use industries seeking flexible and efficient material handling solutions. The lithium-ion segment is anticipated to register the highest CAGR over the forecast period. These batteries are broadly used in electric forklifts as they provide longer lifespan, higher energy density, and faster charging capabilities. Retail & e-commerce is expected to register the highest growth rate over the forecast period. As businesses strive to optimize their supply chain operations and enhance productivity, they invest in advanced warehousing facilities. As a result, the need for efficient forklifts has grown substantially. The Asia Pacific forklift industry accounted for 48.4% share of the overall market in 2024. Companies in the region are incorporating smart technologies such as IoT sensors, telematics, and AI-driven fleet management systems into forklifts. These innovations enable real-time monitoring, predictive maintenance, and optimized route planning, driving better decision-making and cost savings for end-use industries. In August 2024, Crown Equipment Corporation opened a sales and service facility in New Albany, Ohio. This new facility is expected to offer material handling and warehouse solutions to customers in the area. The facility will also provide regional businesses with the necessary equipment and services to boost productivity and uptime, ensuring their material handling operations and supply chains remain efficient and effective. Read full market research report on Forklift Market with TOC - Forklift Market Size, Share & Trends Analysis Report By Class (Class 1, Class 2), By Power Source, By Load Capacity (Below 5 Ton, 5-15 Ton, Above 16 Ton), By Battery Type, By End Use, By Region, And Segment Forecasts, 2025 - 2030 Forklift Market Segmentation Grand View Research has segmented the global forklift market based on class, power source, load capacity, electric battery type, end use, and region: Forklift Market - Class Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030) Class 1 Class 2 Class 3 Class 4/5 Forklift Market - Power Source Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030) ICE Electric Forklift Market - Load Capacity Outlook (Revenue, USD Million, 2018 - 2030) Below 5 Ton 5-15 Ton Above 16 Ton Forklift Market - Electric Battery Type Outlook (Revenue, USD Million, 2018 - 2030) Li-ion Lead Acid Forklift Market - End Use Outlook (Revenue, USD Million, 2018 - 2030) Industrial Logistics Chemical Food & Beverage Retail & E-Commerce Others Forklift Market - Regional Outlook (Revenue, USD Million, 2018 - 2030) North America Europe Asia Pacific Latin America Middle East & Africa (MEA) List of Key Players in the Forklift Market Anhui Heli Co., Ltd. Clark Material Handing Company, (Clark Equipment Company) Crown Equipment Corporation Doosan Corporation Hangcha Forklift Hyster-Yale Materials Handling, Inc. (Hyster-Yale Group, Inc.) Jungheinrich AG KION Group AG Komatsu Ltd. Mitsubishi Logisnext Co., Ltd. Toyota Motor Corporation (Toyota Material Handling) Check out more related studies published by Grand View Research: Electric Forklift Market - The global electric forklift market size is anticipated to reach USD 112.87 billion by 2030, growing at a CAGR of 14.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. Developments in the e-commerce industry are fueling the demand for lift trucks across the economies. Australia Forklift Rental Market - The Australia forklift rental market size is expected to reach USD 197.3 million by 2030, registering a CAGR of 5.8% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. Australia's e-commerce and warehouse sector has experienced significant growth in recent years. Material Handling Equipment Telematics Market - The global material handling equipment telematics market size is estimated to reach USD 15.12 billion by 2030, registering a CAGR of 14.8% from 2025 to 2030, according to a new report by Grand View Research, Inc. Technological advancements in the field of telematics and improved connectivity services have resulted in increased integration of telematics solutions in off-highway equipment. Australia Forklift Market - The Australia forklift market size is expected to reach USD 2.12 billion by 2030, growing at a CAGR of 13.5% from 2023 to 2030, according to the recent reports of Grand View Research, Inc. In Australia, there has been a notable shift toward the adoption of electric forklifts. This transition has gained significant momentum, driven by a heightened focus on sustainability and the urgent need to reduce carbon emissions. Browse Horizon Databook on Forklift Market – Global Forklift Market Size & Outlook Browse Latest Industry Research Blog – Global Industry Herald About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research. Gain insights from 30K+ Global & Regional Reports, 120K+ Country Reports, 1.2M+ Market Statistics, 200K+ Company Profiles, and 5 business solutions encompassing ESG and Sustainability Consulting, Procurement Intelligence, Pricing Index and Analysis, and Consumer Analytics. Contact:Sherry JamesCorporate Sales Specialist, USAGrand View Research, 1-415-349-0058Toll Free: 1-888-202-9519Email: sales@ Us: LinkedIn | Twitter Logo: View original content: SOURCE Grand View Research, Inc.
