Global Pick to light Market is valued approximately at USD 392.09 Million in 2019 and is anticipated to grow with a healthy growth rate of more than 15.60% over the forecast period 2020-2027. Pick to light are also called as digital picking system which is a light directed picking technology that provides an accurate and efficient method for picking, sorting and assembling of products. Such inherent features of pick to light technology helps in lowering the cost of labor. It is mounted with light indication on the item location in the workstation or storge media to efficiently guide operators about the production location and required quantity correctly. Thus, rapid growth in e-commerce sector across the globe and important application of pick to light technologies in warehouses is escalates the demand of pick to light technologies. As it offer reliable, flexible and speedy delivery of products with fewer errors in less time. According to the Indian brand Equity Foundation, the e-commerce sector stood for USD 38.5 Million in 2017 and expected to grow to USD 200 Million till 2024. Also, as per Statista, the e-commerce industry in Germany was USD 110.13 Million in 2019 and is expected to be over USD 121.14 Million by 2020. In addition, industrial growth in emerging economies such as India & China etc. is the factor accelerating the growth of market over the forecast years. However, unsuitability of pick to light technologies for heavy products and large picking areas is the factor deterring the market growth.
The regional analysis of global Pick to light Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in e-commerce sector in the region. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as industrial growth in the region would create lucrative growth prospects for the Pick to light Market across Asia-Pacific region.
Major market player included in report are:
Swisslog Holding AG
Vanderlande Industries B.V.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Operation Operations of key players. The detailed segments and sub-segment of the market are explained below:
By Power source:
Assembly & Manufacturing
Retail & E-commerce
Pharma & cosmetics
Food & beverages
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Pick to light Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers