The global pick-to-light market reached a value of USD 683.3 million in 2023. Over the forecast period, the market is expected to grow at a CAGR of 6.7%. The industry is projected to rise from USD 725.6 million in 2024 to USD 1,393.8 million by 2034, with an anticipated year-on-year growth of 6.2% in 2024.
The surge in online shopping has significantly increased the demand for pick-to-light systems in warehouses and distribution centers. This trend is anticipated to persist as e-commerce continues to grow and more retailers implement omnichannel strategies.
With intensifying competition and rising labor costs, businesses are seeking ways to enhance efficiency and productivity. Pick-to-light technology enables quicker and more accurate order fulfillment, minimizing the need for manual labor and boosting overall operational efficiency.
Technological advancements like machine learning and artificial intelligence are further improving the efficiency of pick-to-light systems. For example, smart pick-to-light systems can learn from historical picking patterns to optimize future tasks.
The use of pick-to-light technology is also expanding into sectors like healthcare and pharmaceuticals, where it helps manage medications, supplies, and other materials efficiently. The demand for this technology is particularly strong in emerging markets like the Asia-Pacific, fueled by the rise of e-commerce and increased investment in logistics infrastructure.
In addition to real-time visibility into inventory levels, pick-to-light systems allow businesses to better manage stock and reduce the risk of stockouts. However, there are challenges associated with adopting this technology. High implementation costs can be a barrier, especially for smaller businesses, and the systems require regular maintenance and updates for optimal performance. Depending on the business’s needs, more advanced systems like voice-picking or RFID technology might be necessary.
Despite these challenges, ongoing innovations in pick-to-light technology are emerging. Some systems now integrate augmented reality for more intuitive picking instructions, while others employ predictive analytics to identify potential bottlenecks or inefficiencies in the picking process.
Key Takeaways from the Pick to Light Market Report:
- The global pick to light industry propelled at 7.4% CAGR during the historical period from 2018 to 2022.
- Demand from the retail sector is expected to achieve a CAGR of 6.4% in the assessment period.
- Modern system is expected to surpass at 6.5% CAGR over the forecast period 2023 to 2033.
- Pick up light industry in the United Kingdom is expected to showcase a 6.5% CAGR and attain a market size of USD 33.9 million in the review period.
- China is expected to exhibit a CAGR of 6.5% and reach a value of USD 193.8 million through 2033.
Who is Winning?
Key competitors are also emphasizing integration with internet of things (IoT) technologies and automation system to create more interconnected systems. They aim to integrate pick to light system with other sector 4.0 technology such as IoT, Artificial Intelligence (AI), and data analytics. These technologies help in providing real time insights for better decision-making.
For instance,
- In May 2021, SVT robots, an important inventor in warehouse picking automation, today introduced a new SOFTBOT Platform adapter for Voodoo Robotics, whose software greatly speeds the implementation of industrial robots.
- In September 2018, to deliver cutting-edge technology to the typical warehouse at a reasonable price, Voodoo Robotics & Sphere WMS are thrilled to be launching a new cooperation.
Pick to Light Market Segmentation:
By Type:
- Modern System
- Traditional System
By Industry Vertical:
- Retail
- Pharmaceutical
- Cosmetics
- Food & Beverages
- Manufacturing
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/pick-to-light-market
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