warehouse order picking Market Size, Share & Industry | 2030

Report Description

The global warehouse order picking market size was valued at USD 5.70 billion in 2020 and is anticipated to reach a CAGR of 10.3% during the forecast period, 2021–2028. The growth of the market is attributed to the fast development of the e-commerce sector, which has resulted in the expansion of warehousing order fulfillment centers all over the world.

Warehouse picking is the process of selecting specific products from a fulfillment facility to fill client orders. Warehouses and distribution facilities are critical components of commodities storage and maintenance across the world. Over the years, the warehouse business has rapidly transformed and brought several change in storage and delivering processes as all methods are moving towards semi-automated solutions that demand less manpower. Furthermore, several innovative technology had been adopted to ensure efficient process of warehousing and effective running of distribution centers.

Get Free Sample Report

The outbreak of COVID-19 pandemic has had a significant impact on the global economy and all businesses were nearly collapse globally. In spite of the initial disarray caused by the pandemic, the e-commerce business are blooming rapidly and growing knowledge of the benefits of using warehousing order picking services among businesses are vital aspects for the market expansion.

Market Trends, Drivers, Restraints, and Opportunities

• Rising inclination among warehouse operators to employ automation technology to minimize lifting response time and promote order fulfillment efficiency is expected to drive market growth in the coming years.
• House delivery has grown its popularity during the pandemic since people prefer to have their products delivered to their homes. This is a key factor driving the market growth.
• Growing necessity to engage people with sufficient skillsets for running technologies while completing orders from the source to the destination is a key challenge that can hinder the market expansion in the coming years.
• High expense of implementing high-end on-premises warehouse order picking solutions is anticipated to hamper the market growth during the forecast period.
• Rapid adoption of new technology including Big Data and Artificial Intelligence is projected to provide lucrative opportunities for the market players during the forecast period.

Scope of Warehouse Order Picking Market Report

The report on the global warehouse order picking market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Warehouse Order Picking Market Segment Insights

E-commerce segment is expected to grow at a rapid pace

Based on applications, the warehouse order picking market is divided into e-commerce, healthcare, pharma & cosmetics, transportation & logistics, construction, manufacturing, retail, and others. The e-commerce segment is expected to grow at a rapid pace during the forecast period owing to the reason that fulfillment technology can handle orders with less travel time and more accuracy. However, the manufacturing segment is anticipated to hold a key share of the market in the coming years due to growing concern for cycle time savings, switching to smaller lot sizes, and point-of-use delivery facility.

Cloud segment is projected to expand at a considerable CAGR

On the basis of deployments, the market is bifurcated into cloud-based and on-premise. The cloud-based segment is projected to expand at a considerable CAGR during the forecast period owing to the fact that cloud solutions are used to carry out the bulk of activities requiring modern technologies such as voice-based and pick-to-light. On the other hand, the on-premise segment is anticipated to account for a major market share during the forecast period due to wide establishment of traditional order picking processes such as barcode scanning and paper-based picking, being done on-site since they need physical labor for inventory management.

Get Free Sample Report

Barcode scanning/RFID picking segment to account for a large market share

On the basis of solutions, the warehouse order picking market is segregated into barcode scanning/RFID picking, paper-based, and others. The barcode scanning/RFID picking segment is estimated to account for a significant market share during the forecast period owing to the scanning tags' numerous advantages such as their capacity to scan the code affixed on items in the inventory with improved precision and simplicity of use.

In the others segment includes modern technological solutions such as voice-directed, Augmented Reality (AR), and pick-to-light, which are in high demand and fashion among businesses. These solutions, while still in their infancy, are projected to develop rapidly in the coming years.

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period due to rising retail and e-commerce sales, as well as the industry's fast digitization in the region. However, the market of North America is anticipated to expand at a rapid pace during the forecast period due to the widespread implementation of order fulfillment technology by businesses such as e-commerce, manufacturing, and retail.

Get Free Sample Report