Vertical Lift Module (VLM) Market will Exhibit a Steady 9.5% CAGR through 2025
Vertical Lift Module Market accounted for US$ 808.5 Mn in 2017 and is expected to grow at a CAGR of 9.5% during the forecast period 2017 – 2025, to account for US$ US$ 1667.6 Mn in 2025.
The vertical lift module market has experienced significant growth and adoption rate in the past few years and is expected to experience notable growth and adoption in years to come. APAC being the fastest growing region in the e-commerce landscape, is driving the need and providing opportunities to logistics companies for serving the fast moving sector.
The growth in increased internet and mobile penetration, increasing number of e-commerce players along with increasing logistics options in the value chain has resulted in fueling the e-commerce sector in the region. In order to stay competitive in the dynamic and fast moving e-commerce landscape, the logistic players are in a need to reinvent their storage facilities and warehouse operations. Also with the presence of several players in the market, managing customer complexities and expectations are the key challenges faced by the logistics companies.
Download a sample report Explore further @ https://www.theinsightpartners.com/sample/TIPTE100000380
To overcome these challenges, logistics companies are choosing automated systems to enhance their warehouse operations as well as worker safety and comfort. Thus, owing to increased space utilization benefit delivered by VLMs and increased inventory control, the demand for such ASRS solutions is experiencing a high growth in the rapidly growing logistics sector of APAC countries. Asia Pacific vertical lift module market region is expected to witness a CAGR growth rate of 12.02% in the coming years.
Top Dominating Key Players:
- Hanel Storage Systems
- Interlake Mecalux
- Kardex Group
- AutoCrib, Inc. (Lauyans & Co.)
- MDCI Automation (Sapient Automation)
- SencorpWhite
- System Logistics Spa
- SSI Schaefer Systems International
- EffiMat Storage Technology A/S
- Constructor Group AS (Kasten and Dexion)
- Weland Lagersystem AB
Growing population across the globe, is tremendously impacting the demand for multiple product categories in automotive, pharmaceutical, retail, electronics, food & beverage, and many other industries. In order to cater to this enormously increasing demand, manufacturers have increased their productions significantly. VLM is such a storage solution, which salvages more than 80% of floor space by stacking the material in vertical shelves. Also, these storage systems are designed in such a way that they deliver the stored product to an operator at an ergonomically located position just on the push of a button, with minimal manual efforts. This effortless delivery results in time saving and significant rise in productivity at the workplace
The development of e-commerce industry goes hand-in-hand with prosperity of the automated storage industry. Stocking of products sold by e-commerce sellers is stored in warehouses, and to reduce time for sorting and stocking of these products, vertical lift modules seem to be the best tools. The advent of automation into other industries including manufacturing, marketing, supply chain, and more have brought a revolutionary change in the way businesses are done. Each and every aspect is now being substituted by appropriate automation mechanism that provides an opportunity to increase its work efficiency and also productivity. A spike on the demand side has forced businesses to move on to operations that take less time and increase efficiency. Also, the e-commerce industry is witnessing its peak periods and is one of the biggest users of the automated storage systems. These factors are expected to boost the vertical lift module market.
The major end-users for vertical lift modules market are automotive, food & beverage, electronics, retail, e-commerce, logistics, aerospace, pharmaceuticals and others. In aerospace Industry high level of control and security is common. It is even same for the tools, spares, parts and materials stored or managed on production sites. Some of the parts and tools must be securely stored safely and assets of high value must be protected and stored to avoid theft to maintain confidentiality.
Make an Enquiry of report for Discount @ https://www.theinsightpartners.com/discount/TIPTE100000380
Reasons to Buy the Report:
- Learn about the driving factors, affecting the market growth.
- Imbibe the advancements and progress in the market during the forecast period.
- Understand where the market opportunities lies.
- Compare and evaluate various options affecting the market.
- Pick up on the leading market players within the market.
- Envision the restrictions and restrains that are likely to hamper the market.
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
Contact Us:
The Insight partners,
Phone: +1-646-491-9876
Email: [email protected]
