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The pick-to-light systems market share is expected to increase by USD 384.44 million from 2021 to 2026, at a CAGR of 6.98%.
This pick-to-light systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers pick-to-light systems market segmentation by application (retail, e-commerce, and 3PL, automotive, food and beverage, manufacturing, and others) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The pick-to-light systems market report also offers information on several market vendors, including Armstrong, Bossard Holding AG, Brilliant Info Systems Pvt. Ltd., Conveyco, Cornerstone Automation Systems LLC, Daifuku Co. Ltd., Deltalogic Technologies Pvt. Ltd., Dematic Group, Direct ConneX LLC, Honeywell International Inc., Interlake Mecalux Inc., Ioi System Co. Ltd., Kardex AG, Matthews International Corp., microSYST Systemelectronic GmbH, MMCI Automation, Murata Machinery Ltd., Numina Group Inc., Pick To Light Systems S.L., Fritz SCHAFER GmbH and Co KG, Toyota Motor Corp., and Voodoo Robotics among others.
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The growing number of fulfillment centers is notably driving the pick-to-light systems market growth, although factors such as the emergence of pick-to-light systems may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the pick-to-light systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Pick-to-Light Systems Market Driver
The growing number of fulfillment centers is one of the key drivers supporting the pick-to-light systems market growth. Enterprises such as Amazon have various fulfillment centers, which handle warehousing, picking, order processing, shipping, and packing for its partners through its Fulfillment by Amazon program. 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-light systems. For instance, in August 2021, Amazon planned to open a new fulfillment center in Bengaluru, India. This facility will open up new job opportunities and will have cutting-edge technology. Thus, the increase in the number of fulfillment centers will lead to an increase in demand for pick-to-light systems during the forecast period.
Key Pick-to-Light Systems Market Trend
Integration of autonomous mobile robots (AMRs) with pick-to-light systems is one of the key trends contributing to the pick-to-light systems market growth. For instance, Matthews International Corp. planned to display its AMR at ProMat in April 2019, an exhibition where leading innovators showcase the latest distribution, manufacturing, and supply chain equipment and systems. The company's AMR is expected to provide greater flexibility to enterprises in dynamic environments such as omnichannel order fulfillment operations. This AMR will be integrated with a pick-to-light system, which will help enterprises to enhance their picking productivity by optimizing batch, zone, and cluster picking. During the picking process, the AMR positions itself in an active pick zone, and a pick-to-light system directs the AMR to the next stock-keeping unit (SKU) required for picking. This will lead to faster picking of products and better operational efficiency. Thus, the integration of autonomous mobile robots (AMRs) with pick-to-light systems will drive the global pick-to-light systems market during the forecast period.
Key Pick-to-Light Systems Market Challenge
The emergence of pick-to-light systems is one of the factors hindering the pick-to-light systems market growth. A pick-to-voice system is primarily designed to keep the employees' hands and eyes free so that they can focus on the picking task at hand. The system issues easy-to-understand voice commands directing the employee to the locations as well as instructing him/her about the task that needs to be performed. This system uses speech synthesis, which allows employees to perform the picks and enables them to communicate with management software such as WMS. Due to the increased benefits of pick-to-voice systems, various enterprises are offering this solution. Thus, the emergence of pick-to-voice systems will impact the demand for pick-to-light systems, thus impacting the growth of the market in focus during the forecast period.
This pick-to-light systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global pick-to-light systems market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the pick-to-light systems market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the pick-to-light systems market encompasses successful business strategies deployed by the key vendors. The pick-to-light systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The pick-to-light systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the pick-to-light systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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49% of the market's growth will originate from APAC during the forecast period. China, South Korea, and India are the key markets for pick-to-light systems market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increase in the number of vehicle manufacturing plants and assembly units will facilitate the pick-to-light systems market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in APAC declined the growth of the pick-to-light systems market in 2020. However, in Q3 2021, owing to the implementation of COVID-19 vaccination drives, governments started lifting the restrictions on logistics activities, considering those as essential services. These factors are expected to drive market growth during the forecast period.
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The pick-to-light systems market share growth by the retail, e-commerce, and 3PL segment will be significant during the forecast period. For instance, in April 2018, DHL International GmbH (DHL), a logistics company, opened a new fulfillment center in the UK and is also working on opening similar fulfillment centers in Poland, the Netherlands, and Switzerland. Pick-to-light systems will be used to optimize order fulfillment operations, increase pick rate productivity, as well as to reduce product picking errors. Such an increase in the e-commerce and 3PL industry will lead to the growth of the global pick-to-light systems market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the pick-to-light systems market size and actionable market insights on post COVID-19 impact on each segment.
Pick-to-Light Systems Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Decelerate at a CAGR of 6.98% |
Market growth 2022-2026 |
$ 384.44 million |
Market structure |
Fragmented |
YoY growth (%) |
7.18 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 49% |
Key consumer countries |
US, China, South Korea, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Armstrong, Bossard Holding AG, Brilliant Info Systems Pvt. Ltd., Conveyco, Cornerstone Automation Systems LLC, Daifuku Co. Ltd., Deltalogic Technologies Pvt. Ltd., Dematic Group, Direct ConneX LLC, Honeywell International Inc., Interlake Mecalux Inc., Ioi System Co. Ltd., Kardex AG, Matthews International Corp., microSYST Systemelectronic GmbH, MMCI Automation, Murata Machinery Ltd., Numina Group Inc., Pick To Light Systems S.L., Fritz SCHAFER GmbH and Co KG, Toyota Motor Corp., and Voodoo Robotics |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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