The pick-to-light systems market will register a CAGR of over 6% by 2023.
Growing number of fulfillment centers will drive the growth of the global market during the forecast period. Fulfilment centers enable enterprises, especially those in the e-commerce industry, to outsource their warehousing and shipping. These centers support enterprises in the storage of all their products, thus ensuring that they (the enterprises) do not have to manage inventories directly.
Pick-to-light systems aid these fulfillment centers to increase their efficiency and reduce shipping errors. In addition, these systems also help in increasing the pick rate productivity as well as in enhancing accuracy. Thus, the increase in the number of fulfillment centers will lead to an increase in demand for pick-to-fight systems.
Increased efficiency in warehouse operation
Pick-to-light systems aid in minimizing travel by employees in a warehouse or distribution center to pick up products, which, in turn helps in enhancing the efficiency of warehouse operations. A pick-to-light system guides employees to pick up the selected products through its digital light display. Also, a pick-to-light system provides the employee with an optimized path, and thus, it aids in increasing the throughput rates.
Emergence of pick-to-voice systems
In a high-intensity and complex warehouse, there can be multiple picking locations where the employee needs to be fast and accurate. In such places, a pick-to-voice system or voice-directed system can be used to improve the accuracy of picking and enhance the speed of picking by employees. Thus, the emergence of pick-to-voice systems will impact the demand for pick-to-light systems, hindering the growth of the market in focus during the forecast period.
The market appears to be moderately fragmented and with the presence of several companies including Matthews International Corp. and SSI Schaefer Group the competitive environment is quite intense. Factors such as the increased efficiency in warehouse operations and growing number of fulfillment centers will provide considerable growth opportunities to pick-to-light systems manufactures.
Bastian Solutions Inc., Daifuku Co. Ltd., Kardex Group, Matthews International Corp., and SSI Schaefer Group are some of the major companies covered in this report.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY APPLICATION
- Market segmentation by application
- Comparison by application
- Automotive - Market size and forecast 2018-2023
- Retail, e-commerce, and 3PL - Market size and forecast 2018-2023
- Food and beverage - Market size and forecast 2018-2023
- Manufacturing - Market size and forecast 2018-2023
- Others - Market size and forecast 2018-2023
- Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2018-2023
- APAC - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Bastian Solutions Inc.
- Daifuku Co. Ltd.
- Kardex Group
- Matthews International Corp.
- SSI Schaefer Group
PART 14: APPENDIX
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