Voice Picking Solution Market to reach a market size of $2.9 billion by 2025
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: www.kbvresearch.com/voice-p…on-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).
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.
Global Voice Picking Solution Market Segmentation
Food & Beverage
Retail & E-commerce
Healthcare & Pharmaceutical
Logistics & Transportation
Rest of North America
Rest of Europe
Rest of Asia Pacific
Rest of LAMEA
Toyota Industries Corporation
Ehrhardt + Partner Solutions Limited
Honeywell International, Inc.
Lucas Systems, Inc.
Zebra Technologies Corporation
Panasonic Corporation (Zetes Industries SA/NV)
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