NAICS 493 - Warehousing and Storage
Industries in the Warehousing and Storage subsector are primarily engaged in operating warehousing and storage facilities for general merchandise, refrigerated goods, and other warehouse products. These establishments provide facilities to store goods. They do not sell the goods they handle. These establishments take responsibility for storing the goods and keeping them secure. They may also provide a range of services, often referred to as logistics services, related to the distribution of goods. Logistics services can include labeling, breaking bulk, inventory control and management, light assembly, order entry and fulfillment, packaging, pick and pack, price marking and ticketing, and transportation arrangement. However, establishments in this industry group always provide warehousing or storage services in addition to any logistic services. Furthermore, the warehousing or storage of goods must be more than incidental to the performance of services, such as price marking.
Bonded warehousing and storage services and warehouses located in free trade zones are included in the industries of this subsector.
Industry trends:
The warehousing and storage sector (NAICS 493) is seeing several prominent qualitative trends. There's an increased emphasis on automation and robotics to streamline operations and improve efficiency. This trend is largely driven by the surge in e-commerce, which necessitates faster turnaround times and more precise inventory management. Companies are investing in robotic systems to handle repetitive tasks, optimize space utilization, and reduce labor costs.
Sustainability is another key trend. Warehousing operators are focusing on eco-friendly practices, including the adoption of green building standards, the use of renewable energy sources, and the implementation of waste reduction programs. As consumer and regulatory pressure for environmental responsibility grows, businesses are increasingly prioritizing sustainability to enhance their corporate social responsibility profiles.
Additionally, there's a growing need for cold storage solutions driven by trends in the food and pharmaceutical industries. The demand for fresh and frozen food deliveries, as well as the need to store vaccines and other temperature-sensitive pharmaceuticals, has led to significant investments in temperature-controlled facilities.
Looking ahead, the sector is expected to continue evolving with technological advancements and increased integration of AI and data analytics. This will enhance predictive maintenance, inventory forecasting, and overall supply chain transparency. The adoption of 5G technology is also anticipated to revolutionize real-time tracking and improve communication within the warehousing ecosystem.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.