Global Voice Picking Solution Market By Component (Software and Services) By Vertical (Food & Beverage, Retail & E-commerce, Healthcare & Pharmaceutical, Logistics & Transportation, Automotive and Others) By Region, Industry Analysis and Forecast, 2019 - 2025
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Market Report Description
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 picking is a validated process designed to increase the efficiency and reliability of order pickers or selectors in warehouses and distribution centers. Pickers wear industrial microphone headsets that connect to a mobile device that runs a voice application. The voice of the application indicates the pickers where they have to go and what they have to do. For example, the application instructs the person to reach the location of the warehouse and also informs the quantity that needs to be picked up. The pickers speak into the microphone to confirm their work. The voice picking application requires speech recognition software that understands and interprets the spoken response of the order picker.
Global Voice Picking Solution Market Size
The industry is witnessing an increase in the adoption of voice-directed warehousing systems to improve employee productivity and warehouse performance. This is a key trend which would drive the growth of the voice picking solution market. Warehouses play a diverse range of roles across the varied industry verticals. Consumer-driven market allows operators to deploy distributed warehouses operating in fast-paced settings. Nonetheless, a fast-paced warehouse environment demands technologies and tools that can guarantee high efficiency and reliability in warehouse operations. This is where voice picking solutions become the ideal technology.
Global Voice Picking Solution Market Share
Based on Component, the market is segmented into Software and Services. Based on Vertical, the market is segmented into Food & Beverage, Retail & E-commerce, Healthcare & Pharmaceutical, Logistics & Transportation, Automotive and Others. Retail is the most promising market for voice-directed warehouse solutions. The rapid adoption of voice-directed warehouse solutions in the retail sector to minimize training time, improve customer satisfaction, and provide a higher return on investment are among the factors that support the high growth experienced by the retail sector. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Voice Picking Solution Market to reach a market size of $2.9 billion by 2025
Voice Picking Solution Market Cardinal Matrix
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Siemens AG, Honeywell International, Inc., and Panasonic Corporation (Zetes Industries SA/NV) are some of the forerunners in the Voice Picking Solution Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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).
Recent Strategies Deployed in Voice Picking Solution Market
» Collaborations, Partnerships, and Agreements:
- Oct-2019: Zetes, a Panasonic Company, collaborated with Intermarché, a brand of Os Mosqueteiros Group, a leading retail Group of Europe. In this collaboration, Zetes will provide its ZetesZeus, a supply chain visibility solution for helping Intermarché in achieving advanced visibility and greater efficiency across its Portuguese supply chain operations.
- Aug-2019: Honeywell announced its partnership with Consultare America LLC and Silver Touch Technologies in order to offer fully-integrated voice-directed productivity solution to the customers. These companies will provide its solutions to smaller distribution centers in which the solutions will guide the workers with the variety of warehouse tasks from picking to receiving, replenishment, and put-away.
- Mar-2019: Voxware signed partnership agreement with two companies, Ai Links Limited, a supply-chain consulting firm, and Onlog AS, a supply chain and logistics solutions provider. This partnership would help the company in offering specialized integrations with different platforms that help the customers in increasing efficiency and save their capital expenses. This partnership will also help in expanding its geographical footprint.
- Feb-2019: Zebra came into partnership with Topsystem, which offers Lydia® Voice Suite for wearable computers. This partnership is aimed at providing the targeted product portfolio and complete solutions to the voice customers of both the companies.
- Oct-2018: Honeywell signed an OEM agreement with SAP in which it will unveil a fully integrated voice-directed productivity solution for SAP Business One users. This solution will offer the enhanced productivity, safety, and accuracy to the distribution centers.
» Acquisition and Mergers:
- Oct-2019: Korber took over a majority stake in Cohesio Group, an Australian company, which combines voice directed and autonomous mobile robotics for logistics. This acquisition complements the technologies of Korber through which it offers right supply chain technologies and services to its customers globally.
- Jun-2018: Korber acquired Centriq Group, an International technology group. Through this, the North American business of Korber will be complemented and would create the most experienced Honeywell Vocollect voice integration teams.
» Product Launches:
- Sep-2019: Honeywell announced the release of two poplar voice solutions: guided work solutions and vocollect A700x Series. These solutions will help the distribution centers in New Zealand and Australia to increase its productivity and reducing the errors through hands-free, eyes-up solutions for local distribution centers.
- Apr-2019: Voxware launched Voice Management Suite (VMS) 2019. Through this suite, people can reap the benefits of Voxware augmented reality in three cases: order picking, kit assembly, and order packing.
- Jun-2018: Honeywell Intelligrated introduced TechSight, a real-time augmented reality solution. This solution has been designed for reducing the repair time and minimizing the operational disruption. This solution has the features of two-way audio and visual communication for troubleshooting.
- May-2018: Voxware introduced Voice Management Suite 2018. With the launch of this suite, the company would now be able to offer voice, vision, and scanning solutions through Augmented Reality (AR) technology.
- Oct-2019: Bastian Solutions, a Toyota Industries Corporation Company, opened a new regional office in Houston. This expansion is the ideal location for the material handling system integrator and material handling automation.
Scope of the Voice Picking Solution Market Analysis
- Food & Beverage
- Retail & E-commerce
- Healthcare & Pharmaceutical
- Logistics & Transportation
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Toyota Industries Corporation
- Kion Group
- Ehrhardt + Partner Solutions Limited
- Honeywell International, Inc.
- Ivanti, Inc.
- Lucas Systems, Inc.
- Korber AG
- Voxware, Inc.
- Zebra Technologies Corporation
- Panasonic Corporation (Zetes Industries SA/NV)
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Voice Picking Solution Market Related Reports:
What would be the size of Voice Picking Solution market in 2025?
According to a new report published by KBV Research, The global Voice Picking Solution market size is expected to reach $2.9 billion by 2025.
What is the key factor driving the Voice Picking Solution market?
The major factors that are anticipated to drive the Voice Picking Solution industry include efficient warehouse operations, improvement in operational agility, and increase in productivity and scalability.
Which region shows maximum potential growth in Voice Picking Solution market over the forecast period?
The Asia Pacific region market would witness a highest CAGR of 16.5% during (2019-2025).
Which region dominated the Voice Picking Solution market in 2018?
The regional market in North America accounted for a dominant market share in 2018.
What is the CAGR of Voice Picking Solution market by 2025?
The global Automotive Moto market is poised to grow with a CAGR of 15.3% during the forecast period.
Which are the leading players in Voice Picking Solution market?
The leading player in Voice Picking Solution market includes 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).