LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global warehousing and storage market to grow at a CAGR of close to 6% during the period 2018-2022, according to their latest market research report.
The use of drones at warehouses to track inventory is one of the major trends being witnessed in the global warehousing and storage market. Unmanned aerial vehicles are aircraft that do not require pilots on board. These UAVs are also commonly referred to as drones. A drone pilot can remotely control UAVs. Earlier applications of drones were limited to military use. However, it is growing beyond military use to other sectors such as the supply chain.
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In this report, Technavio analysts highlight the growing demand for refrigerated warehousing due to developing frozen food industry as a key factor contributing to the growth of the global warehousing and storage market:
Global warehousing and storage market: Growing demand for refrigerated warehousing due to developing frozen food industry
Frozen dinners, fruits and vegetables, and ice creams require refrigerated warehousing for their storage before they are distributed to the retail stores or sold directly to consumers through e-commerce. The growing demand for these products will increase the need for refrigerated warehousing. Usually, frozen food is perceived as an alternative to fresh and home cooked food as well as canned food.
According to a senior analyst at Technavio for research on warehouse and storage, “The frozen food market is growing because it includes ready-to-eat meals that are convenient food for individuals with busy schedules. Furthermore, rising urbanization is also driving the growth of the global frozen food market. vegetables such as green peas are being consumed all year round, owing to the emergence of refrigerated storage.”
Global warehousing and storage market: General segment leads the market
This market research report segments the global warehousing and storage market into the following types (general, refrigerated, and farm products) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major types, the general segment held the largest market share in 2017, contributing nearly 70% of the market. The market share occupied by this segment is expected to decrease by almost 1% by 2022. However, this segment will dominate the global market throughout the forecast period.
APAC was the leading region for the global warehousing and storage market in 2017. It accounted for a market share of approximately 39%. It was followed by the Americas and EMEA. APAC is expected to project the fastest growth during the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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