“Pick to light market to exhibit steady growth between 2017 and 2023”
The pick to light market is expected to grow from USD 323.7 million in 2017 to USD 538.2 million by 2023, at a CAGR of 8.84% between 2017 and 2023. The growth of this market is propelled by the emergence of automated warehouses, growth of the e-commerce industry, and globalization of supply chain network. Moreover, pick to light offers error-free and better productivity operations, and enhanced labor utilization.
“Pick to light market for assembly & manufacturing industry to grow at highest CAGR during forecast period”
Owing to significant growth in the automotive spare parts market, the industry needs efficient warehousing setup to ensure fast delivery of products. Automotive manufacturers, component providers, and suppliers seek to create differentiation by providing excellent order fulfillment through efficient product delivery. Moreover, the uninterrupted supply of automotive spare parts is important for efficient after-sales services and customer satisfaction. Electronics, furniture, and other industries are also implementing pick to light technology in their assembly and manufacturing plants.
“Europe expected to capture largest market share by 2023”
Europe is one of the major regions in the pick to light market. The retail & e-commerce industry is one of the key contributors to the logistics activities across Europe. The warehousing and logistics sector in Europe is positively impacting the pick to light market. Moreover, the region has numerous manufacturing and warehousing facilities of various industries, such as automotive, aerospace & defense, machinery, and electrical and electronics. This has created significant demand among warehouse operating companies for sophisticated pick to light solutions to manage warehousing and distribution operations of these end-user industries.
The breakup of the profiles of primary participants for the report has been given below:
• By Company Size: Tier 1 = 25%, Tier 2 = 30%, and Tier 3 = 45%
• By Designation: C-Level Executives = 48%, Directors = 35%, and Others = 17%
• By Region: North America = 20%, Europe = 28%, APAC = 40%, and RoW = 12%
The pick to light market is dominated by various players according to their core competencies. Key players in this market are Daifuku (Japan), Murata Machinery (Japan), SSI Schaefer (Germany), Dematic (US), and Honeywell Intelligrated (US). Moreover, others players such as Vanderlande Industries (Netherlands), Swisslog (Switzerland), KNAPP (Austria), Bastian Solutions (US), AIOI-Systems (Japan), Turck (Germany), Lightning Pick Technologies (US), and KBS Industrieelektronik GmbH (Germany) play a significant role in the pick to light market.
The report on the global pick to light market covers different segments—method, power source, operation, industry, and geography. The market based on method has been segmented into auto guided and manual. On the basis of power source, the pick to light market has been classified into wired and wireless. The report covers 2 types of operations—picking and putting. Further, the pick to light market has been segmented on the basis of industries into assembly and manufacturing; retail and e-commerce; pharma and cosmetics; food & beverages, and others (3PL, apparel, and stationery). The report covers 4 major geographic regions—North America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on method, power source, operation, industry, and geography have been conducted to provide an overall view of the pick to light market.
The value chain analysis has been included in the report to provide an in-depth insight into the pick to light market.
Major drivers, restraints, opportunities, and challenges for the pick to light market have been detailed in this report.
A detailed competitive landscape, along with key players and their revenues and growth strategies, has been included in the report.
Key players in the pick to light market have been profiled, including their recent developments, product launches, and SWOT analysis. Also, MnM’s view on these players has been included.