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Micro-Fulfillment Market Growth Insights, Latest Trends, Top Key Players, Key Drivers And Forecast To 2032
Micro-Fulfillment Market Analysis
The Business Research Company's Micro Fulfillment Global Market Report 2023 identifies growing demand for the e-commerce sector as the major driver for the micro fulfillment market's growth in the forecast period. The e-commerce industry refers to the online purchase and sale of goods and services. It includes a wide range of information, processes, and tools for online consumers and sellers, such as smartphone shopping and online payment encryption. E-commerce fulfillment manages the logistics of delivering an online order to a customer's door, eliminating the requirement for an individual to envelope, address, and ship each order individually. The increasing demand for the e-commerce sector will contribute to the growth of the micro fulfillment market.
The global micro fulfillment market size is expected to grow from $3.09 billion in 2022 to $4.50 billion in 2023 at a compound annual growth rate (CAGR) of 45.86%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of micro-fulfillment market is expected to reach $20.04 billion in 2027 at a CAGR of 45.26%.
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Major competitors in the micro fulfillment market are LG CNS Co. Ltd, Dematic, Fortna Inc., Instacart, TGW Logistic Group, Opex Corporation, Exotec Solutions, KPI Integrated Solutions.
A key trend in the micro fulfillment market includes technological advancement. Major companies operating in the micro fulfillment market are focused on innovating new technologies to sustain their position in the market. For instance, in September 2021, Honeywell, an American publicly traded multinational conglomerate corporation, introduced innovative robotic technology with the launch of smart de-palletizing robots for micro-fulfillment. This product is expected to boost automation in warehouses and distribution centers. Smart Flexible De-palletizer reduces the requirement for physical labor in roles that are at risk of harm or have a high turnover rate. The solution uses the most advanced machine learning and grasping technologies to assist in the unloading of pallets without the need for pre-programming or user intervention.
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The micro fulfillment market is segmented -
1) By Types: AutoStore, Shuttle Based, Other Technologies
2) By Technology: Traditional WMS, Mobile AMR, Piece Picking Robots
3) By Warehouse Size: Small Size, Large Size
4) By Applications: Grocery, General Merchandise, Other Applications
5) By End-User: E-Commerce, Industries, General Stores
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the micro fulfillment market.
The Business Research Company's "Global Micro Fulfillment Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Micro Fulfillment Market Include:
1. Executive Summary
2. Micro-Fulfillment Market Characteristics
3. Micro-Fulfillment Market Trends And Strategies
4. Micro-Fulfillment Market - Macro Economic Scenario
……
32. Global Micro-Fulfillment Market Competitive Benchmarking
33. Global Micro-Fulfillment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Micro-Fulfillment Market
35. Micro-Fulfillment Market Future Outlook and Potential Analysis
36. Appendix
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