According to a recent market report published by Persistence Market Research titled, “Voice-Directed Warehousing Solutions Market: Global Industry Trend Analysis 2013 to 2017 and Forecast 2018 – 2026,” the global voice-directed warehousing solutions market was valued at US$ 1,057 Mn in 2017, and is expected to register a CAGR of 12.6% from 2018 to 2026. The voice-directed warehousing solutions market is expected to witness meteoric growth and is poised to grow across important regional markets across the globe.
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Several factors have contributed to the growth of the voice-directed warehousing solutions market. Greater efficiency as compared to traditional methods, increasing incorporation of voice technology for increased productivity, technological advancements increasing labor efficiency, improvement in business operations of warehouses and distribution centers, rise in demand for flexible warehousing solutions such as voice-directed warehousing solutions, flexibility of operations resulting in increased productivity, automation of mobile tasks and workflows, rising adoption of technology in the retail sector, enhancement in productivity, reduced time and increased customer satisfaction, increasing adoption of wearable voice technology and reduction of training time from days to hours and increasing adoption of voice technology in the supply chain are pushing the growth of the global voice-directed warehousing solutions market. Complexity in integration of new technologies within the existing infrastructure, lack of system understanding and high investment and costs are some of the aspects challenging the growth of the global market for voice-directed warehousing solutions.
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. The operator is provided a headset and a voice terminal, and is guided through each step by voice commands with the help of speech recognition technology. The speech synthesis technology enables the system to understand a user’s response. Voice-directed warehousing solutions guide through all the locations and help the staff pick orders accurately, thereby reducing errors and increasing labor productivity.
The global voice-directed warehousing solutions market is categorized on the basis of component, industry, and region. The section market analysis by component comprehensively analyzes the voice-directed warehousing solutions market on the basis of the type of services and solutions that voice-directed warehousing vendors provide. The market is segmented into voice-directed warehousing platforms and services. The services segment is subdivided into consulting services and implementation & integration. Voice-directed warehousing platforms accounted for the highest market share 74.9% in 2017. However, the consulting services sub segment is expected to register a healthy CAGR during the forecast period.
The section market analysis by industry comprehensively analyzes the voice-directed warehousing solutions market on the basis of industries that use voice-directed warehousing solutions in different verticals. The market is segmented into electrical & electronics, food & beverages, pharmaceuticals, e-commerce, retail tracking, logistics & transport, and others. The retail segment accounted for the highest market share of 30.6% in 2017.
This report also covers drivers, restraints, and trends driving each segment and offers analysis & insights regarding the potential of the voice-directed warehousing solutions market in regions, which include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Among these regions, Asia Pacific accounted for the largest share in 2017 in voice-directed warehousing solutions market owing to the growing need for voice-directed warehousing solutions due to enhancement in productivity, reduced time, and increased customer satisfaction. The voice-directed warehousing solutions market in China is also expected to register a healthy CAGR of 15.5% during the forecast period due the high adoption of wearable voice technology.
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The research report on the global voice-directed warehousing solutions market includes analysis on competition. Key competitors in the voice-directed warehousing solutions market are: Voxware, Inc.; Zebra Technologies Corporation; Zetes Industries SA; Dematic Corporation; Voiteq Ltd.; Honeywell International Inc. (Vocollect); Lucas Systems, Inc.; Ivanti Software, Inc.; Business Computer Projects Ltd.; TopVox Corporation; Honeywell Intelligrated; and Symphony RetailAI.