Global Pick-to-Light System Market 2018-2022 | Increased Productivity and Improved Order Accuracy Drive Growth | Technavio
LONDON--(BUSINESS WIRE)--Jan 7, 2019--The global pick-to-light system market research report by predicts the market to post a CAGR of around 6% during the period 2018-2022.
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Technavio has published a new market research report on the global pick-to-light system market from 2018-2022. (Graphic: Business Wire)
A key driver for the global pick-to-light system market is the increased productivity and improved order accuracy. The distribution centers have been experiencing pressure from several retail channels that is further compounded by the challenges of e-commerce, the rising number of SKUs, seasonal demand curves, and high service expectations. The distribution centers are adopting pick-to-light systems to counter these challenges. These systems will ensure improved efficiency under seasonal surges.
Technavio classifies increased automation in warehouse functions is an essential factor that can significantly impact the market and contribute to its growth. This market research report also provides an analysis of other drivers and trends expected to affect the market outlook during the period 2018-2022.
In this report, Technavio highlights the increase in automation in warehouse functions as one of the key trends in the global pick-to-light system market:
Global pick-to-light system market: Increase in automation in warehouse functions
The global e-commerce market witnessed approximately 6% increase in sales in 2017. This has created a requirement for coordination between the various supply chains based on real-time, to accommodate sales volumes. It is estimated that 12% of warehouse processes were fully automated, and 30% were partially automated in 2017. During the forecast period, a rise of around 15% is expected to be witnessed in the automation of warehouse processes.
“The increased need for automation in the warehousing sector will be catered to with IoT and machine learning. Communication equipment such as conveyors, rack and shelving, lift trucks, dock equipment, palletizers, pallets, bins, and containers will be connected to WMS, labor center, transportation center, and customer management system. This will increase workflow efficiency, optimize warehouse operation, and provide with real-time data related to the operation to detect any malfunctions or bottlenecks,” says a senior research analyst at Technavio.
Global pick-to-light system market: Segmentation analysis
This pick-to-light system market analysis report segments the market by application (automotive, retail, e-commerce, and 3PL, F&B, and others) and geography (the Americas, APAC, and EMEA).
The EMEA region led the market in 2017, followed by the Americas and APAC respectively. The EMEA region is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: TECHNOLOGY SUPPLY CHAIN MANAGEMENT HARDWARE TRANSPORT OTHER TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT RETAIL
SOURCE: Technavio Research
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