Micro Fulfilment Market, 39% of Growth to Originate from North America, Technavio
NEW YORK, April 30, 2024 /PRNewswire/ -- The global micro fulfilment market size is estimated to grow by USD 18.75 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 43.51% during the forecast period. North America is estimated to contribute 39%. to the growth of the global market.
Get region specific data - Download a FREE Sample
The Micro Fulfilment Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027.
Region Outlook
- North America
- Europe
- APAC
- South America
- Middle East & Africa
1. North America - The North American micro-fulfillment market is set to grow by 39% by 2027. Experts at Technavio have detailed the trends, drivers, and challenges shaping this market. One big driver is the rise of e-commerce and online shopping. People in North America are shopping more online, which pushes retailers to find better, cheaper ways to deliver orders.
- Lots more folks are ordering groceries online too. Plus, new tech like robots and artificial intelligence is making micro-fulfillment systems cheaper and easier to use. With e-commerce getting more competitive, companies need to step up. Micro-fulfillment is a smart way to improve how fast and how well they can serve customers. That's why it's expected to keep driving market growth in North America for a while.
For detailed insights on the market share of rest of the regions and countries- Buy This Report Now
Research Analysis
In the evolving retail landscape, micro fulfillment markets represent a significant shift from traditional warehousing strategies. Robotics and advanced software solutions enable these standalone facilities to efficiently manage omnichannel orders, including perishable products and ecommerce niches. Omnichannel strategies require quick response times to customer engagement, making last-mile delivery a critical component.
However, upfront investment in suitable facilities, racking systems, conveyor belts, and sorting systems can be a challenge for retailers facing budget cuts. Additionally, considerations for reducing last-mile emissions and greenhouse gases are becoming increasingly important.
Picking lists and order fulfillment processes must be optimized to maintain high conversion rates and positive customer experiences. Fluctuations in demand require flexible software solutions to adapt and streamline operations.
Market Overview
The Micro Fulfillment Market refers to the segment of logistics and supply chain management focused on small-scale distribution centers. These centers utilize advanced technologies such as automation, robotics, and sorting systems to process and deliver orders efficiently. The market is driven by the increasing demand for fast and convenient delivery services, particularly in e-commerce.
Companies are investing in customizable and cost-effective micro fulfillment solutions to enhance customer experience and reduce delivery times. The use of technology in micro fulfillment centers enables real-time inventory management, streamlined order processing, and accurate picking and packing. The market is expected to grow significantly in the coming years due to the increasing adoption of automation and the need for quicker delivery times.
To understand more about this market- Download a FREE Sample Report in minutes!
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
Share this article