PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498762
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498762
Pick to Light Market size was valued at USD 509.30 million in 2023, expanding at a CAGR of 6.73% from 2024 to 2032.
Pick to Light (PTL) is a semi-automated order fulfillment technology used in warehouses and distribution centers to improve the efficiency and accuracy of the picking process. It speeds up the picking process by minimizing the time spent searching for items. E-commerce growth and customer expectations for fast delivery times are driving the need for more efficient order-picking systems. Integration of PTL systems with Warehouse Management Systems (WMS) and Enterprise Resource Planning (ERP) systems improves overall operational efficiency. However, the upfront cost of implementing PTL systems, including hardware, software, and integration with existing systems, can be significant. Integration with robotics and automated guided vehicles (AGVs) can further streamline warehouse operations.
Pick to Light Market- Market Dynamics
The rise of e-commerce led to the growing need for efficient order fulfillment systems
The proliferation of online shopping has led to a surge in the volume of orders that need to be processed, packed, and shipped. Consumers expect quick and accurate delivery, pushing businesses to adopt advanced fulfillment systems to meet these expectations. Modern consumers expect fast shipping, often within one or two days. Efficient order fulfillment systems are crucial to meet these expectations and maintain customer satisfaction and loyalty. According to the sources, India's e-commerce sector is expected to reach INR 4,416.68 billion in 2024 and there were approximately 26.5 million online stores worldwide in 2023. Furthermore, innovations in technology, such as automation, robotics, and artificial intelligence, have made it possible to streamline fulfillment processes. Automated warehouses, for example, can pick and pack orders faster and more accurately than manual systems.
Pick to Light Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.73% over the forecast period (2024-2032)
Based on method type segmentation, the manual was predicted to show maximum market share in the year 2023
Based on end-user segmentation, retail & e-commerce was the leading type in 2023
based on region, North America was the leading revenue generator in 2023
The Global Pick to Light Market is segmented based on Operation, Method, Power Source, End User, and Region.
The market is divided into two categories based on method: Manual and auto-guided. In 2022, the manual category dominated the Pick Light market. Manual methods are simple to set up and maintain in the workplace and quite affordable. Many businesses, including retail and e-commerce, packaging and assembly, and pharmaceutical and cosmetics, use manual systems for a variety of tasks. A manual system has lower operating costs than sensor-based systems. Numerous manufacturers are offering a range of pick-to-light systems on the market.
The market is divided into four categories based on end-user: Manufacturing, Retail & E-Commerce, Food & Beverages, and Pharma & Cosmetics. The retail sector holds the largest market share. Pick-to-light solutions have mostly been used in retail, especially in the distribution and e-commerce warehouse sectors. This is because there is a growing need for effective order fulfillment procedures to keep up with the increasing trends in online purchasing. Other industries can usefully implement pick-to-light systems to improve operational efficiency.
Pick to Light Market- Geographical Insights
For the projection era, the US has led the world in technological advancements. Their development and application of sophisticated pick-to-light systems that are accurate, efficient, and user-friendly have been made possible. Manufacturing and logistics are two strong industries in the US. The optimization of warehouse and distribution center operations leads to a notable need for pick-to-light systems. Furthermore, China is a major hub for global manufacturing, creating a wide range of goods for home and foreign consumers. Consequently, there is a great need for automated and effective logistics solutions like Pick to Light. The logistics and warehousing sectors have experienced tremendous expansion due to China's burgeoning e-commerce sector. Pick-to-light systems have become popular because of the requirement for cutting-edge solutions to manage the growing number of items.
Major players in pick to light market are Honeywell, Siemens AG, Panasonic Corporation, Vanderlande Industries, Knapp AG, KBS Industrieelektronik GmbH, Aioi-Systems Co., Ltd., Bastian Solutions, LLC, etc. These companies have a strong presence across the globe, offering a wide range of pick-to-light systems and expertise. They often cater to large-scale warehouses and distribution centers. Dematic is known for its advanced automation solutions, including PTL systems that integrate seamlessly with its broader warehouse management solutions. Honeywell Intelligrated offers comprehensive material handling solutions, with PTL systems that are part of their extensive automation portfolio. For instance, In February 2020, XPO Logistics, Inc., a leading global provider of transportation and logistics solutions, presented its Pick and Put to Light system in the innovation gallery. The technology also received the prestigious Innovation Award at Kings of the Supply Chain 2020.
In September 2023, Warehouse automation and software vendor Mathews Automation Solutions released a major pick-to-light software version update that handles larger data sets more quickly and with more capabilities such as enhanced security, and functionality.
GLOBAL PICK TO LIGHT MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Honeywell Intelligrated
Dematic
Daifuku Co., Ltd.
Kardex Remstar
Murata Machinery, Ltd.
Aioi-Systems Co., Ltd.
Lightning Pick Technologies
KBS Industrieelektronik GmbH
SCHAEFER SYSTEMS INTERNATIONAL PVT LTD
Vanderlande Industries B.V.
Swisslog Holding AG 2
KNAPP AG
Bastian Solutions, LLC
Others