Pick To Light Market
Pick to Light Market Forecasts to 2030 - Global Analysis By Operation (Batch Picking, Zone Picking, Wave Picking, Cluster Picking, Piece Picking and Other Operations), Method, Power Source, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Pick to Light Market is accounted for $513.94 million in 2023 and is expected to reach $915.64 million by 2030 growing at a CAGR of 8.6% during the forecast period. Pick-to-Light is a technology used in order fulfilment and assembly operations. It involves the use of lights mounted at storage locations or picking bins in a warehouse or distribution center. When an item needs to be picked, the corresponding light illuminates, directing the picker to the exact location. This method helps reduce errors, increase efficiency, and speed up the picking process by providing visual cues to the picker. Pick-to-Light systems are particularly useful in environments with high SKU counts and fast-moving inventory, where accuracy and speed are essential.
According to the Bureau of Labor Statistics, the US warehousing and storage sector saw an increase of 13.6% in the workforce from April 2020 to April 2021, due to an increase in the number of warehouses in the country.
Market Dynamics:
Driver:
Rapid expansion of e-commerce globally
As online retail continues to surge, businesses face increasing pressure to fulfill orders quickly and accurately. Pick to light systems offer a highly efficient solution by minimizing errors and optimizing picking speed in warehouse operations. With the demand for fast order fulfillment rising, e-commerce companies are increasingly turning to pick to light technology to enhance their warehouse efficiency and meet customer expectations, thereby driving market growth.
Restraint:
Complex implementation
Complex implementation in pick to light systems arises due to factors such as warehouse layout intricacies, integration with existing infrastructure like Warehouse Management Systems (WMS), and customization requirements for specific workflows. This complexity can lead to longer deployment times, higher initial costs, and the need for specialized expertise, which may deter some businesses from adopting pick to light solutions, potentially hindering market growth.
Opportunity:
Increasing emphasis on just-in-time inventory management practices
Pick to light systems enable businesses to optimize their warehouse operations, minimize inventory holding costs, and fulfill orders accurately and quickly. By facilitating real-time picking guidance and reducing errors, these systems align well with the principles of just-in-time inventory management, helping businesses meet customer demands promptly while maintaining lean inventory levels. This alignment drives the adoption of Pick to light solutions across industries seeking to enhance operational efficiency and agility.
Threat:
High upfront costs
Pick to light systems often have high upfront costs due to the need for specialized hardware, such as light modules, displays, and sensors, as well as integration with existing warehouse management systems. Additionally, implementation costs, including installation, training, and customization, can further contribute to the initial investment. Moreover, the perceived risk of high initial investment may discourage potential buyers from exploring the benefits of these systems, hindering market growth.
Covid-19 Impact
The covid-19 pandemic has mixed impact on the pick to light market. On one hand, the increased demand for e-commerce and the need for efficient order fulfillment solutions boosted the adoption of pick to light systems. On the other hand, disruptions in global supply chains, workforce shortages, and economic uncertainties slowed down market growth. Additionally, some industries experiencing downturns, such as retail and hospitality, reduced their investments in warehouse automation, affecting the demand for pick to light solutions. Overall, the pandemic led to a varied impact on the market.
The batch picking segment is expected to be the largest during the forecast period
The batch picking segment is estimated to have a lucrative growth. Batch picking in the pick to light market involves the simultaneous picking of multiple orders by warehouse personnel. It optimizes efficiency by consolidating picking tasks, reducing travel time, and increasing order fulfillment speed. This method is particularly beneficial for high-volume distribution centers and e-commerce fulfillment operations seeking to streamline their processes and meet customer demands promptly. It offers a scalable solution to improve productivity and reduce operational costs in today's fast-paced logistics landscape.
The e-commerce segment is expected to have the highest CAGR during the forecast period
The e-commerce segment is anticipated to witness the highest CAGR growth during the forecast period. Pick to light systems revolutionize e-commerce order fulfillment by increasing efficiency and accuracy. In e-commerce, where rapid order processing is crucial, PTL minimizes picking time, enabling faster order fulfillment and shipping. This technology integrates seamlessly with warehouse management systems, enhancing inventory control and optimizing workflows. Ultimately, PTL systems enhance customer satisfaction through timely and error-free deliveries in the fast-paced world of e-commerce.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period driven by the booming e-commerce sector, rapid industrialization, and increasing adoption of automation technologies in warehouses and distribution centers. Countries like China, Japan, and India are witnessing substantial investments in logistics infrastructure and automation to meet the growing demand for efficient order fulfillment. Additionally, the emergence of innovative start-ups and the presence of key players in the region are further propelling market expansion.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period. The region's mature e-commerce ecosystem, coupled with the demand for faster order fulfillment and accurate inventory management, is driving the adoption of pick to light systems. Additionally, industries like retail, consumer goods, and healthcare are increasingly investing in warehouse automation to enhance operational efficiency. Moreover, technological advancements, such as integration with AI and IoT, are further propelling market growth.
Key players in the market
Some of the key players profiled in the Pick to Light Market include Honeywell Intelligrated, Swisslog, Matthews Automation Solutions, Vanderlande, Knapp AG, Bastian Solutions, FastPic Systems, Kardex Group, ASI Technologies, Inther Group, SDI Group, WITRON, Codeworks, Flexcon and CREFORM.
Key Developments:
In April 2016, Honeywell Intelligrated has launched several pick-to-light systems, including the Trak3, which allows multiple order fillers to pick in a single zone. The Trak3's multicolored indicator lights can support up to four order fillers per zone, enabling simultaneous filling of multiple orders or guiding operators to perform value-added services.
Operations Covered:
• Batch Picking
• Zone Picking
• Wave Picking
• Cluster Picking
• Piece Picking
• Other Operations
Methods Covered:
• Manual
• Auto Guided
Power Sources Covered:
• Battery-Powered
• Solar-Powered
• Hybrid Power Source
• Grid-Powered
• Other Power Sources
Technologies Covered:
• LED-Based
• Barcode Scanning
• RFID (Radio-Frequency Identification)
• Machine Learning & Artificial Intelligence (AI)
• Other Technologies
Applications Covered:
• Order Fulfillment & Warehousing
• Assembly Line Operations
• Kitting
• Cross-Docking
• Other Applications
End Users Covered:
• Food & Beverages
• E-commerce
• Automotive
• Pharmaceuticals
• Electronics
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Pick to Light Market, By Operation
5.1 Introduction
5.2 Batch Picking
5.3 Zone Picking
5.4 Wave Picking
5.5 Cluster Picking
5.6 Piece Picking
5.7 Other Operations
6 Global Pick to Light Market, By Method
6.1 Introduction
6.2 Manual
6.3 Auto Guided
7 Global Pick to Light Market, By Power Source
7.1 Introduction
7.2 Battery-Powered
7.3 Solar-Powered
7.4 Hybrid Power Source
7.5 Grid-Powered
7.6 Other Power Sources
8 Global Pick to Light Market, By Technology
8.1 Introduction
8.2 LED-Based
8.3 Barcode Scanning
8.4 RFID (Radio-Frequency Identification)
8.5 Machine Learning & Artificial Intelligence (AI)
8.6 Other Technologies
9 Global Pick to Light Market, By Application
9.1 Introduction
9.2 Order Fulfillment & Warehousing
9.3 Assembly Line Operations
9.4 Kitting
9.5 Cross-Docking
9.6 Other Applications
10 Global Pick to Light Market, By End User
10.1 Introduction
10.2 Food & Beverages
10.3 E-commerce
10.4 Automotive
10.5 Pharmaceuticals
10.6 Electronics
10.7 Other End Users
11 Global Pick to Light Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Honeywell Intelligrated
13.2 Swisslog
13.3 Matthews Automation Solutions
13.4 Vanderlande
13.5 Knapp AG
13.6 Bastian Solutions
13.7 FastPic Systems
13.8 Kardex Group
13.9 ASI Technologies
13.10 Inther Group
13.11 SDI Group
13.12 WITRON
13.13 Codeworks
13.14 Flexcon
13.15 CREFORM
List of Tables
1 Global Pick to Light Market Outlook, By Region (2021-2030) ($MN)
2 Global Pick to Light Market Outlook, By Operation (2021-2030) ($MN)
3 Global Pick to Light Market Outlook, By Batch Picking (2021-2030) ($MN)
4 Global Pick to Light Market Outlook, By Zone Picking (2021-2030) ($MN)
5 Global Pick to Light Market Outlook, By Wave Picking (2021-2030) ($MN)
6 Global Pick to Light Market Outlook, By Cluster Picking (2021-2030) ($MN)
7 Global Pick to Light Market Outlook, By Piece Picking (2021-2030) ($MN)
8 Global Pick to Light Market Outlook, By Other Operations (2021-2030) ($MN)
9 Global Pick to Light Market Outlook, By Method (2021-2030) ($MN)
10 Global Pick to Light Market Outlook, By Manual (2021-2030) ($MN)
11 Global Pick to Light Market Outlook, By Auto Guided (2021-2030) ($MN)
12 Global Pick to Light Market Outlook, By Power Source (2021-2030) ($MN)
13 Global Pick to Light Market Outlook, By Battery-Powered (2021-2030) ($MN)
14 Global Pick to Light Market Outlook, By Solar-Powered (2021-2030) ($MN)
15 Global Pick to Light Market Outlook, By Hybrid Power Source (2021-2030) ($MN)
16 Global Pick to Light Market Outlook, By Grid-Powered (2021-2030) ($MN)
17 Global Pick to Light Market Outlook, By Other Power Sources (2021-2030) ($MN)
18 Global Pick to Light Market Outlook, By Technology (2021-2030) ($MN)
19 Global Pick to Light Market Outlook, By LED-Based (2021-2030) ($MN)
20 Global Pick to Light Market Outlook, By Barcode Scanning (2021-2030) ($MN)
21 Global Pick to Light Market Outlook, By RFID (Radio-Frequency Identification) (2021-2030) ($MN)
22 Global Pick to Light Market Outlook, By Machine Learning & Artificial Intelligence (AI) (2021-2030) ($MN)
23 Global Pick to Light Market Outlook, By Other Technologies (2021-2030) ($MN)
24 Global Pick to Light Market Outlook, By Application (2021-2030) ($MN)
25 Global Pick to Light Market Outlook, By Order Fulfillment & Warehousing (2021-2030) ($MN)
26 Global Pick to Light Market Outlook, By Assembly Line Operations (2021-2030) ($MN)
27 Global Pick to Light Market Outlook, By Kitting (2021-2030) ($MN)
28 Global Pick to Light Market Outlook, By Cross-Docking (2021-2030) ($MN)
29 Global Pick to Light Market Outlook, By Other Applications (2021-2030) ($MN)
30 Global Pick to Light Market Outlook, By End User (2021-2030) ($MN)
31 Global Pick to Light Market Outlook, By Food & Beverages (2021-2030) ($MN)
32 Global Pick to Light Market Outlook, By E-commerce (2021-2030) ($MN)
33 Global Pick to Light Market Outlook, By Automotive (2021-2030) ($MN)
34 Global Pick to Light Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
35 Global Pick to Light Market Outlook, By Electronics (2021-2030) ($MN)
36 Global Pick to Light Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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