Pick-To-Light Market Size to Grow by $ 242.66 mn through 2020-2024
Technavio research projects the pick-to-light market to grow by $ 242.66 mn, accelerating at a CAGR of almost 6% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Pick-To-Light Market: Key Market Driver
One of the primary factors that will trigger the growth of the pick-to-light market size is increased efficiency in warehouse operations. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Pick-To-Light Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Banner Engineering Corp., Daifuku Co. Ltd., Dematic Group, Honeywell International Inc., Ioi System Co. Ltd., Kardex AG, KNAPP AG, Matthews International Corp., SSI SCHAEFER Group, and Toyota Industries Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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The Global Pick-To-Light Market is expected to grow by USD 242.66 million accelerate at a CAGR of almost 6% during the forecast period. Techanvio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Download our free sample report with COVID-19 analysis
Pick-To-Light Market: Segmenta-ion by Application
During 2019, the automotive segment dominated the Global Pick-To-Light Market 2019. The automotive industry is the largest end-user of pick-to-light systems. The demand for vehicles is increasing across the globe, mainly because of changing consumer needs, thus compelling automotive OEMs to increase the production of vehicles. To increase vehicle production, automotive OEMs are opening new plants or increasing their production capacity. These factors will increase the demand for the pick-to-light market resulting in market growth during the forecast period.Market growth in the automotive segment will be faster than the growth of the market in the automotive and others segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the pick-to-light market size.
Integrating autonomous mobile robots (AMR) with pick-to-light systems improves picking efficiency and facilitates the picking of multiple products. AMRs connected with warehouse execution software (WES) create their routes, avoid obstacles, and reroute when necessary. This leads to faster picking of products and improves operational efficiency. As a result, many enterprises are focusing on integrating AMRs with pick-to-light systems to deliver better service. This growing trend of integrating AMRs with pick-to-light systems will boost pick-to-light systems market growth
Pick-To-Light Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Banner Engineering Corp., Daifuku Co. Ltd., Dematic Group, Honeywell International Inc., Ioi System Co. Ltd., Kardex AG, KNAPP AG, Matthews International Corp., SSI SCHAEFER Group, and Toyota Industries Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio forecasts three scenarios (optimistic, probable, and pessimistic) to evaluate the impact of COVID-19 Download a Free Sample Report. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
