Voice Directed Warehousing Solution Market
Global Market study on Voice-Directed Warehousing Solutions: Expansion of Retail Sector, Particularly E-commerce, to Elevate Adoption
- Report code : PMRREP19537 |
- Industry : IT and Telecommunication |
- Published On : May-2019 |
- Pages : 262 Pages |
- Format :
The global voice-directed warehousing solutions market was valued at approximately US$ 1,211 Mn in 2017, and is expected to witness a high growth rate during the forecast period owing to the increase in demand for security and real-time business intelligence. The voice-directed warehousing solutions market is projected to expand at a CAGR of approximately 11% during the forecast period (2018-2026).
Voice-directed warehousing solutions enable warehouse holders to manage their distribution centers with the help of voice-directed systems. These systems support two processes, namely speech recognition and speech synthesis. Advancements in warehousing technology, such as speech recognition and speech synthesis, are significantly driving the voice-directed warehousing solutions market
North America and Europe are the largest regional markets for voice-directed warehousing solutions in 2018. The presence of key players and the early adoption of advanced technologies are expected to generate substantial demand for voice-directed warehousing solutions. East Asia holds high growth potential for the voice-directed warehousing solutions market. Rapid digitalization, the growth of the retail industry, increasing sales of e-commerce, and growth of smart devices are among the major factors contributing to the growth of the voice-directed warehousing solutions market in East Asia. Moreover, high investments in business infrastructure by the countries of East Asia are also projected to drive the voice-directed warehousing solutions market during the forecast period.
Retail is the most attractive industry for voice-directed warehousing solutions. The rapid adoption of voice-directed warehousing solutions in the retail industry to reduce training time, increase customer satisfaction, and offer high return on investment are among factors supporting the high growth witnessed by the retail industry.
- Increased security and real-time business intelligence will drive demand for voice-directed warehousing solutions
Voice-directed warehousing solutions help warehouse holders to increase the security of staff and handling of orders to enable accurate deliveries. Moreover, the increasing adoption of voice-directed warehousing solutions to provide real-time communication to experts in case of any problems faced in understanding the system and real-time visibility to throughput is also fueling the growth of voice-directed warehousing solutions market.
- Digital transformation and growth in E-commerce sales are favoring growth of voice-directed warehousing solutions market
Digital transformation is reforming some of the business activities that are likely to transform business processes and provide new revenue models for the voice-directed warehousing solutions market with the help of digital technologies. The rising traction of digital transformation in various industries, such as electrical & electronics, food & beverages, retail, and transportation & logistics, are creating potential opportunities for the voice-directed warehousing solutions market. Moreover, a continuous increase in e-commerce sales in various countries around the globe is also playing an important role in driving the voice-directed warehousing solutions market.
- The integration of new technologies within the existing infrastructure is a major challenge for the growth of the voice-directed warehousing solutions market
The integration of new technologies within the existing infrastructure is a major concern for players in the voice-directed warehousing solutions market. Existing infrastructure is not likely to support new technologies such as sensors, barcode scanners, voice synthesis, recognition, and artificial intelligence, which has created the need for the replacement of old infrastructure with new infrastructure. This is boosting investments in voice-directed warehousing solutions. Furthermore, new and innovative technologies involve high-risk investments and unsecured ROI, which is likely to hamper the growth of the voice-directed warehousing solutions market.
Competition Analysis
The global voice-directed warehousing solutions market represents a moderately consolidated competition landscape, wherein Tier 1 companies hold a revenue share of approximately 45%. Some of the top companies in the voice-directed warehousing solutions market include Honeywell International, Zebra Technologies, Voiteq Ltd., and Zetes Industries. While most of the key voice-directed warehousing solutions providers maintain a strategic focus on the North America, Europe, and East Asia markets, the report underscores that technology assessment will be an important developmental strategy for companies.
Leading players in the voice-directed warehousing solutions market are also concentrating on entering into partnerships and collaborations with augmented reality and virtual reality solution providers, and this will remain a strong differentiation strategy in the voice-directed warehousing solutions market. The number of vendors offering consulting services along with voice-directed warehousing solutions is increasing at a rapid pace.
Voice-Directed Warehousing Solutions Market: Introduction
The voice-directed warehousing solutions market in North America was the dominant market in 2017 in terms of value for voice-directed warehousing solutions. In the coming years, the voice-directed warehousing solutions market in the U.S. is expected to be one of the key markets for sustainable revenue generation owing to the deployment of voice-directed warehousing solutions, which can be attributed to continuous upgrades and advancements in the country’s retail and e-commerce industry. Geographic expansion and collaborations between the providers of voice-directed warehousing solutions are among the strategies followed by the key players in the global voice-directed warehousing solutions market to increase their sales.
Retail is a key industry in the global voice-directed warehousing solutions market, and is expected to be the most lucrative during the forecast period. The voice-directed warehousing solutions market in East Asia is expected to generate the highest CAGR among all the regional markets in the global voice-directed warehousing solutions market. The voice-directed warehousing solutions market in North America is estimated to offer the highest incremental opportunity during the forecast period.
Collaborations with other voice-directed warehousing solution & service providers and augmented reality & virtual reality solution providers help increase business revenue and develop new innovation strategies, thus enabling the voice-directed warehousing solutions market players to reach new potential customers and enhance their presence in other business regions.
Voice-Directed Warehousing Solutions Market Report Description
- Executive Summary
The executive summary consists of a comprehensive summary of the global voice-directed warehousing solutions market. This comprehensive summary includes the overall global voice-directed warehousing solutions market outlook, and the various trends in the supply and demand of the market. In addition, this section offers business growth-related recommendations and opportunities to look forward to in the global voice-directed warehousing solutions market.
- Market Introduction
This section offers a detailed definition of voice-directed warehousing solutions platforms. It also offers the voice-directed warehousing solutions market taxonomy showcasing the various market segments. By component, the global voice-directed warehousing solutions market has been segmented into voice-directed warehousing platforms and services.
With regards to the voice-directed warehousing solutions technology, the global market has been segmented into natural language processing, machine learning, and Artificial Intelligence (AI). By industry, the global voice-directed warehousing solutions market has been segmented into electrical & electronics, food & beverage, pharmaceutical, E-commerce, retail, tracking, logistics & transport, and others.
A market snapshot featuring the global voice-directed warehousing solutions market value for the period of 2017 to 2026 has also been added to this section, along with the global market share analysis by segments. In addition, this section of the global voice-directed warehousing solutions market study offers an analysis of the incremental opportunity of the market with regards to the component, technology, industry, and region.
- Market Background
The market study offers an elaborate analysis of the global voice-directed warehousing solutions market and features market-related insights on the macro-economic and forecasting factors influencing the adoption of voice-directed warehousing solutions technology and its practicality for modern applications. The voice-directed warehousing solutions market study includes an exhaustive analysis of the key market drivers, market challenges, and the overall market structure.
- Market Forecast and Market Analysis
An elaborate market analysis has been performed for each segment of the voice-directed warehousing solutions market with regards to the market size in every region. This chapter also offers an exhaustive analysis that discusses the current nature of the trends in the global voice-directed warehousing solutions market.
The next chapter of the voice-directed warehousing solutions market study showcases a detailed analysis of the market across specific countries in different regions. It offers an estimated market viewpoint for the forecast duration of 2018 to 2026. The estimation includes the trending technological innovations and product offerings in the voice-directed warehousing solutions market. This chapter offers an impact analysis that discusses the degrees at which market dynamics are influencing the growth of the global voice-directed warehousing solutions market in every region. Market forecasts and analysis for key emerging countries (China, India, and Russia) based on key market segments have been provided in the voice-directed warehousing solutions market report as an extension to this section.
This global voice-directed warehousing solutions market report showcases the present scenario as well as the future prospects of growth in the global voice-directed warehousing solutions market across all the business regions for the forecast period of 2018 to 2026. The year 2017 has been considered as the base market year, and the market size has been provided for the next twelve months.
- Competitive Landscape
The final chapter of the global voice-directed warehousing solutions market research report includes a competitive landscape that provides a dashboard view of the key competitors operating in the voice-directed warehousing solutions market. Some of the voice-directed warehousing solutions market players profiled in this section include Honeywell, Dometic Corporation, Voiteq, Top-VOX, Lucas Systems, Speech Interface Design, Voxware, ThickStat CoverSight, Zebra Technology Corp., Zetes, Ivanti, Business Computer Projects Ltd., HighJump, Blue Horseshoe, BEC (Systems Integration) Ltd., and Proteus Software.
- Research Methodology
To reach a precise forecast, the market study was started by deducing the existing market size, which formed a platform that enabled us to understand the future prospects of the growth of the voice-directed warehousing solutions market. We have deduced the overall growth trend using different methods of market analysis and as per the technological advancements in the global voice-directed warehousing solutions market. As highlighted previously, the global voice-directed warehousing solutions market is segmented into different market segments.
Analysis has been performed in terms of the segmental Basis Points System (BPS) to feature the distinct contributions made by individual segments to the growth of the global voice-directed warehousing solutions market. This data plays an important role in identifying various trends in the global voice-directed warehousing solutions market. After thorough secondary and primary research of the global voice-directed warehousing solutions market, the scope of the research study was restricted to major application segments and the regional markets within the global voice-directed warehousing solutions market.
Voice-directed warehousing solutions market forecast and projections have been determined assuming the fact that there would be no major environmental factors responsible for a sudden shift during the forecast period. The market estimation and forecast for the voice-directed warehousing solutions market has been determined considering the average pricing of major products across geographies. In our global voice-directed warehousing solutions market report, we have considered a minimal change in the regulatory requirements during the forecast period.
Company Profiles
- Honeywell
- Dometic Corporation
- Voiteq
- Top-VOX
- Lucas Systems
- Speech Interface Design
- Voxware
- ThickStat CoverSight.ai
- Zebra Technology Corp
- Zetes
- Ivanti
- Business Computer Projects Ltd.
- HighJump
- EYC
- Blue Horseshoe
- BEC (Systems Integration) Ltd.
- Proteus Software
- Ehrhardt + Partner Solutions DWC-LLC
