Dublin, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The "Micro-Fulfillment Market - Global Micro-Fulfillment Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By End User Coverage, By Component Coverage, By Application Coverage, By Geographic Coverage and By Company)" report has been added to ResearchAndMarkets.com's offering.
The global micro-fulfillment market is gearing up for explosive growth, with forecasts indicating an impressive compound annual growth rate (CAGR) of 40% from 2023 to 2030. By the end of the decade, the market is expected to surpass a valuation of US$30 billion.
This remarkable surge is propelled by the surging demand for swift and efficient eCommerce order fulfillment solutions, driven by the exponential rise in online shopping and heightened consumer expectations for rapid deliveries.
Micro-Fulfillment Revolutionizes eCommerce and Retail
Micro-fulfillment stands as a game-changing solution within the eCommerce and retail industry, designed to streamline and accelerate the process of order fulfillment for online purchases. It involves the establishment of compact, highly automated fulfillment centers in strategic locations, often within urban or densely populated areas. These centers harness advanced automation technologies and robotic systems to perform tasks such as product retrieval, sorting, packing, and order assembly, significantly reducing the reliance on manual labor and enhancing operational efficiency.
Key Findings from the Report
The report's key findings shine a spotlight on the following trends and insights:
Rapid Growth in eCommerce Order Fulfillment:
The surge in online shopping, expedited by the COVID-19 pandemic, has created an urgent need for efficient order fulfillment solutions. Micro-fulfillment centers, strategically positioned near urban areas, empower retailers to meet the demand for fast deliveries, including same-day or next-day options.
Technological Innovations Drive Efficiency:
Technological advancements in robotics, automation, Artificial Intelligence (AI), and machine learning are at the forefront of the micro-fulfillment market. These innovations bolster operational efficiency, accuracy, scalability, and customer satisfaction within the eCommerce and retail supply chain.
Growth Opportunities Across Regions:
- North America Leads in eCommerce Expansion: North America takes the lead in the micro-fulfillment market, courtesy of its advanced eCommerce infrastructure, tech-savvy consumer base, and favorable business environment. Micro-fulfillment centers cater to densely populated areas, enabling quicker last-mile deliveries.
- Asia Pacific Witnesses Fastest Growth: The Asia Pacific region experiences rapid urbanization, increased eCommerce adoption, and technological innovation. Densely populated urban hubs make it an ideal setting for micro-fulfillment centers to reduce last-mile delivery distances and fulfill the mounting demand for efficient order fulfillment.
Competitive Landscape
Prominent players in the micro-fulfillment market include industry leaders such as Honeywell International Inc., Flowspace, LOCAD, Instacart, Ahold Delhaize, Fortna, Inc., HORMANN, Inc., The Kroger Company, Dematic, Alert Innovation, Bastian Solutions, LLC, PACK and SEND Holdings Pty Ltd, Swisslog, Davinci Micro-fulfillment, KPI Integrated Solutions, Pacline Overhead Conveyors, and OPEX.
Key Topics Covered:
1. Executive Summary
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.8. PESTLE Analysis
3. Global Micro-fulfillment Market Outlook, 2018 - 2030
4. North America Micro-fulfillment Market Outlook, 2018 - 2030
5. Europe Micro-fulfillment Market Outlook, 2018 - 2030
6. Asia Pacific Micro-fulfillment Market Outlook, 2018 - 2030
7. Latin America Micro-fulfillment Market Outlook, 2018 - 2030
8. Middle East & Africa Micro-fulfillment Market Outlook, 2018 - 2030
9. Competitive Landscape
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/tm33q8
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