The pick-to-light system market will register a CAGR of more than 6%by 2022
Jan 16, 2019, 16:17 ET
LONDON, Jan. 16, 2019 /PRNewswire/ -- About this market
The companies are increasingly adopting the omnichannel model of retailing. In an omnichannel model, customers from multiple channels such as online stores and physical stores are served by an integrated supply chain. Such integration allows retailers to have better visibility of inventory and also serve their consumers better. In an omnichannel model, multiple channels and their respective resources are designed to operate in a coherent, cross-channel model. This has led to an increase in number of SKUs, which has increased the complexity of inventory stocking in warehouses and distribution centers. To enable optimal customer service, efficient logistics must be implemented. Therefore, logistic companies are increasingly adopting pick-to-light systems in distribution centers and warehouses, a trend that is expected to increase during the forecast period. Technavio's analysts have predicted that the pick-to-light system market will register a CAGR of more than 6%by 2022.
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Market Overview
Increased productivity and improved order accuracy
The need for complicated zone designing or extensive order profiling is eliminated by the zone less order picking feature in a pick-to-light system. Also, there is an increase in accuracy. Such advantages of pick-to-light system are expected to translate into the growth of the global pick-to-light system market during the forecast period.
Order picking as expensive warehouse activity
Order picking is the process of retrieving items from storage locations in a warehouse. As the initial investment for the integration of a pick-to-light system into a paper-based order picking warehouse adds to the operational cost, it is hindering adoption and will thereby affect the growth for the global pick-to-light system market adversely during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the pick-to-light system market during the 2018-2022, view our report.
Competitive Landscape
The global pick-to-light system market is extremely concentrated. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
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