Published Date: 30-Nov-2019
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According to a new report Global Voice Picking Solution Market, published by KBV Research, The Global Voice Picking Solution Market size is expected to reach $2.9 billion by 2025, rising at a market growth of 15.3% CAGR during the forecast period. Voice-directed warehousing solutions allow warehouse owners to use voice-driven systems to control their distribution centers. Such systems support two mechanisms, the recognition of speech and the synthesis of speech. Advancements in warehousing software, like speech recognition and speech synthesis, boost the voice-directed warehousing solutions market substantially.
The software segment recorded a dominant share in 2018 whereas; the services segment is projected to grow at the highest CAGR over the forecast period. The high demand for speech-based solutions in warehouses has influenced the adoption of software subscription. This has further moved to a higher market share for the software segment. Software has enabled warehouse operators in gaining real-time supply chain visibility, take stock of the available inventory, and ascertain vacant space on the warehouse floor. It is expected that these capabilities will drive growth in the software segment.
The regional market in North America accounted for a dominant market share in 2018. This can be attributed to the region's increasing focus on reducing training time and improving efficiency by warehouse operators. It is expected that the Asia Pacific market will show a strong growth rate of 16.5% during the forecast period. The region's organizations are actively focused on reducing operating costs and handling inventories in real time while raising the level of customer service. The Europe market is expected to witness a CAGR of 14.5% during (2019 - 2025).
The Food & Beverage market is one of the major revenue generating segments in the Global Voice Picking Solution Market by Vertical 2018. The Retail & E-commerce market is expected to witness a CAGR of 14.2% during (2019 - 2025). Additionally, The Healthcare & Pharmaceutical market is experiencing growth rate of 16.5% during (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/voice-picking-solution-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Toyota Industries Corporation, Kion Group, Ehrhardt + Partner Solutions Limited, Honeywell International, Inc., Ivanti, Inc., Lucas Systems, Inc., Korber AG, Voxware, Inc., Zebra Technologies Corporation and Panasonic Corporation (Zetes Industries SA/NV).
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