$950M+ Pick To Light Markets – Global Forecast 2022 to 2027 – ResearchAndMarkets.com

0

DUBLIN–(BUSINESS WIRE)–The “Pick To Light Market – Forecast 2022 to 2027” report has been added to from ResearchAndMarkets.com offer.

The pick-to-light market was valued at USD 409.113 million in 2020 and is expected to grow at a CAGR of 12.82% during the forecast period to reach a total market size of USD 951.915 million. here 2027.

Pick-to-light systems facilitate sorting and picking operations between shelves and other locations. The use of light-directed pick and place improves productivity and reduces errors, thereby improving efficiency. With this technology, picking efficiency and accuracy are improved, and labor costs are reduced.

With pick-to-light, employees perform picking, placing, sorting and assembly processes using alphanumeric screens at storage locations. Print and apply and RF pick applications are included in the pick-to-light. In the e-commerce, pharmaceutical and cosmetic industries, order picking operations are widely used for order fulfillment.

These are best suited for picking up broken items from crates or rooms. The use of pick-to-light for putting operations is expected to gain traction over time. With an increase in the number of warehouses globally, the demand for pick-to-light systems is expected to boost, thereby exploding the market.

A 32% increase in warehouses in the UK has been reported over the past six years. Reports compiled by Savills and commissioned by the UK Warehousing Association (UKWA) indicated that in 2015 there were 428 million square feet of storage and distribution space. However, by 2021, that figure had grown to 566 million square feet, an increase of 138 million square feet.

As e-commerce evolves, automated warehouses improve productivity, and the trend of online shopping grows, the global pick-to-light market is growing. Although the market may grow globally, the high capital investment for installation, as well as financial strength for maintenance, may hold it back.

With an increasing number of small and medium-sized enterprises using technology, the industrial revolution in developing countries will create growth opportunities for major market players. In Asia-Pacific, more than 98% of companies are SMEs. In low-income countries, including India, these services contribute up to 17% of the national gross domestic product.

In high-income countries, such as Malaysia and Singapore, they contribute 40-50%. (Source: smefinanceforum.org)

Growth factors:

Growth of e-commerce:

Modern shopping involves internet retailing. E-commerce has become one of the most important platforms for shopping in the world with the increasing penetration of mobile devices and internet services.

There is an increase in online vendors and a shift in consumer behavior driving the e-commerce industry. E-commerce has seen a dramatic increase in its share of retail sales from 16% to 19% in 2020, according to UNCTAD. By 2020, the top 13 companies will have sold $2.9 trillion in online business-to-consumer (B2C) sales.

Warehouse pickers can easily find things with pick-to-light systems since themed lights indicate where items are or where they need to go. E-commerce order fulfillment is especially facilitated by systems that select cases and broken parts. Racks, shelves, picking carts, and even storage walls can be outfitted with pick-to-light hardware.

E-commerce order execution is much more efficient and operator errors are reduced with pick-to-light technology. In terms of productivity of order picking and warehouse management, this type of supply chain technology is very popular. With the rise of warehouse management via the rapid expansion of global e-commerce, the market for made-to-order products is likely to explode.

E-commerce warehouses of multinational brands such as Amazon are constantly on the rise. In anticipation of the upcoming festive season, Amazon India has extended its last mile delivery network to Bangalore. This will allow the e-commerce giant to deliver faster across the city ahead of festival season.

The delivery stations owned by Amazon and partners in Karnataka consist of 130 which is the largest of them. Plus, with a new robot fulfillment center in Florida and five new delivery stations, Amazon is pumping an additional $18.8 billion into the state.

Constraints

High cost:

The pick-to-light-directed system allows only one person at a time to be in a work area, reducing potential speed. Due to the fact that lights are tied to the location of shelving, expanding or modifying a lighting system can be costly and time-consuming. System owners typically need to invest a large amount of capital upfront and maintain them for an extended period of time. When expanding a business, it will be necessary to acquire more equipment.

Impact of COVID-19 on the Pick To Light market:

Although warehouse automation has grown in popularity for years, COVID is expected to accelerate adoption. For warehouses to reclaim floor space and increase their labor efficiency, they will turn to automated storage and retrieval systems to help adjust inventories, make room for jobs (WIP), expedite order deliveries and implement social distancing.

In order to meet post-COVID challenges, warehouses need this extra capacity. Due to COVID-19, pick-to-light systems and integrated inventory management software have combined to positively impact the market.

Company Profiles

  • International Matthews Society

  • Toyota Material Handling

  • Dematic

  • Honeywell International Inc.

  • Kardex

  • Schaefer Systems International Pvt Ltd

  • Aioi-Systems Co., Ltd.

  • Vanderlande Industries B.V.

  • KBS Industrieelektronik GmbH

  • Knapp AG

Segmentation

By type

  • modern system

  • Traditional system

By industry vertical

  • Retail

  • Pharmaceutical

  • Beauty products

  • food and drinks

  • Manufacturing

By geography

  • North America

  • UNITED STATES

  • Canada

  • Mexico

  • South America

  • Europe

  • Germany

  • France

  • UK

  • Others

  • Middle East and Africa

  • Asia Pacific

  • China

  • India

  • South Korea

  • Taiwan

  • Thailand

  • Indonesia

  • Japan

For more information on this report, visit https://www.researchandmarkets.com/r/iyipe5

Share.

Comments are closed.