The pick to light market was valued at USD 304.1 Million in 2016 and is expected to reach USD 538.2 Million by 2023, at a CAGR of 8.84% between 2017 and 2023. The base year considered for the study is 2016, and the forecast period is between 2017 and 2023. The objective of the report is to provide a detailed analysis of the market based on method, power source, operation, industry, and region. The report provides detailed information regarding the major factors influencing the growth of the pick to light market. The report also gives a detailed overview of the value chain in the ecosystem of pick to light and analyzes the market trends based on the competitive leadership
analysis.
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The global pick to light market is dominated by the manual picking method owing to its adoption for various applications in several industries, such as assembly and manufacturing; retail and e-commerce; and pharma and cosmetics. The manual method is cost-effective; thus, it has short payback period. Manual systems are simple to implement and operate. Moreover, their operating cost is also low compared with their sensor-based counterparts. Murata Machinery (Japan), SSI Schaefer (Germany), Dematic (US), Honeywell Intelligrated (US), KNAPP (Austria), AIOI-System (Japan), Turck (Germany), and Lightning Pick Technologies (US) offer manual pick to light systems.
The market for wired pick to light is expected to grow at a higher CAGR than for wireless pick to light owing to the benefits offered by the former. Wired pick to light systems are simple and cost-effective for picking process. The adoption of wired pick to light systems is high owing to their high ROI. Wireless pick to light systems gained traction in recent years; however, due to the wireless feature, these cost higher than wired pick to light systems.
Pick to light systems support picking and sorting operations from shelves to other locations. Light-directed picking and putting provide better productivity and error-free operations, resulting in enhanced productivity. Picking operations are widely used for order fulfillment process in e-commerce, and pharma and cosmetics industries. They are most suitable for piece picking and broken case picking of items. However, the use of pick to light for putting operation is expected to gain traction in the coming years.
Europe is an early adopter of pick to light systems and a mature market for pick to light. Europe held the largest market share in 2016, and it is expected to sustain its position in the coming years. The region has numerous manufacturing and warehousing facilities of various industries, such as automotive, aerospace & defense, machinery, and electrical and electronics. Need for highly customized automated warehousing facilities and the industrialization of countries in Eastern Europe drive the market in the European region. Fast-growing e-commerce industry, booming manufacturing sector, and increasing emphasis on domestic production by emerging economies such as China and India are the key factors for the significant growth of the pick to light market in APAC.
Pick to light market in APAC to grow at highest CAGR during forecast period
APAC is an emerging market for pick to light. Fast-growing e-commerce industry, booming manufacturing sector, and increasing emphasis on domestic production by emerging economies such as China and India are the key factors for the significant growth of the pick to light market in this region.
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).
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