What is Global Pick to Light Market?
The Global Pick to Light Market is a fascinating and rapidly evolving sector that has been gaining significant traction in recent years. Essentially, the Pick to Light system is an order picking technology that optimizes the process of locating and picking products for shipment in warehouses and distribution centers. The system uses light devices mounted on warehouse shelves or other storage locations to guide workers to the correct product locations and quantities. The global market for this technology was valued at a substantial US$ 829 million in 2022. The market's value is projected to increase to an impressive US$ 1286.4 million by 2029, which represents a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2023 to 2029. This growth is a testament to the increasing adoption and reliance on this technology across various industries. The market is dominated by the top five manufacturers who collectively hold a market share of over 30%. This indicates a high level of market concentration, with these key players playing a pivotal role in shaping the market dynamics. In terms of product types within the Pick to Light market, the Manual segment holds the lion's share, accounting for about 85% of the market. This dominance can be attributed to the simplicity and cost-effectiveness of manual systems, which make them a preferred choice for many businesses.
Manual, Auto Guided in the Global Pick to Light Market:
The Pick to Light system finds extensive application in various sectors including Assembly and Manufacturing, Retail and E-Commerce, Pharma and Cosmetics, Food and Beverages, among others. In the Assembly and Manufacturing sector, the system is used to streamline the assembly line process, reduce errors, and increase productivity. In the Retail and E-Commerce sector, it is used to expedite the order fulfillment process, thereby enhancing customer satisfaction and loyalty. The Pharma and Cosmetics industry uses the system to ensure accuracy in picking and packing of products, which is crucial given the sensitive nature of these products. In the Food and Beverages sector, the system is used to ensure freshness and quality of products by reducing the time taken to pick and pack them. Other sectors where the system is used include logistics and supply chain, automotive, and electronics among others. Each of these sectors has unique needs and challenges, and the Pick to Light system provides a versatile solution that can be tailored to meet these specific requirements.
Assembly and Manufacturing, Retail and E-Commerce, Pharma and Cosmetics, Food and Beverages, Others in the Global Pick to Light Market:
The Pick to Light market can be segmented based on the type of system into Manual and Auto Guided. The Manual Pick to Light system is the most common and accounts for about 85% of the market. This system requires human intervention to pick and pack items, but the process is guided by light indicators which show the location and quantity of items to be picked. This system is simple to implement and use, and is therefore preferred by many businesses, especially those with smaller operations or lower volumes of orders. On the other hand, the Auto Guided Pick to Light system is more advanced and uses automated guided vehicles (AGVs) to pick and pack items. This system is more efficient and accurate, but also more expensive to implement and maintain. Therefore, it is more commonly used by larger businesses or those with high volumes of orders. Both these systems have their own advantages and disadvantages, and the choice between them depends on the specific needs and resources of the business.
Global Pick to Light Market Outlook:
In conclusion, the Global Pick to Light Market is a dynamic and growing market that offers a range of solutions to improve efficiency and accuracy in order picking. The market is expected to witness significant growth in the coming years, driven by increasing demand from various sectors and advancements in technology. However, the market is also characterized by high competition, with the top five manufacturers holding a significant market share. As the market continues to evolve, it will be interesting to see how these dynamics change and what new opportunities and challenges emerge.
| Report Metric | Details |
| Report Name | Pick to Light Market |
| Accounted market size in 2022 | US$ 829 million |
| Forecasted market size in 2029 | US$ 1286.4 million |
| CAGR | 6.4% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Daifuku, Murata Machinery, SSI SCHAEFER, Dematic, Honeywell, Kardex Group, Sick AG, Knapp AG, Aioi-Systems Co, Swisslog, Vanderlande, ULMA Handling Systems, Hans Turck GmbH, Bastian Solutions, Weidmuller, Banner, CREFORM (Yazaki-Kako), Wenglor Sensonic, Lightning Pick Technologies, ATOX Sistemas, KBS Industrieelektronik, Insystems Automation, Falcon Autotech |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
