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Pallet Racking Market Worth USD 14.1 Billion by 2027 Witness a CAGR of 6.8% – Report by Market Research Future (MRFR)

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New York, USA, Dec. 15, 2022 (GLOBE NEWSWIRE) — Pallet Racking Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Pallet Racking Market Information By End-User, System Type, Racking Type, And Region – Forecast till 2027”, the market is estimated to grow at a 6.8% CAGR to reach USD 14.1 Billion by 2027.

Market Synopsis

Pallet racking material enables businesses to load large quantities for adequate market distribution. According to demand, a suitable amount of products are released onto the market. The pallet racking market enables businesses and manufacturers to produce goods in large quantities, which saves both time and money when done all at once. The pallet racking market has just reached its ceiling due to the growth of e-commerce services. The market’s population, production, and demand are diverse. These pallet-racking products can endure various loads, whether pounds or quintals.

Industry growth is anticipated to be aided by several technological developments, including drones, robots, autonomous guided vehicles, cloud technologies, and composite panel technologies. As a result of the incorporation of home delivery services, artificial intelligence (AI), and product customization, the retail sector has experienced substantial growth in recent years. Manufacturers have begun investing in pallet racking systems as a result. Furthermore, the ecommerce industry is growing as a result of increased urbanization. Conventional brick-and-mortar merchants are adopting ecommerce channels to offer better services like prompt delivery, a large selection of products, and an enhanced customer experience. Due to this, revenues in the pallet racking market are anticipated to increase throughout the projected period.

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Report Scope:

Report Attribute Details
Market Size in 2027 USD 14.1 Billion
CAGR 6.8% (2021–2027)
Base Year 2020
Forecast Period 2021–2027
Historical Data 2019
Forecast Units Value (Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By End-User, System Type, Racking Type, And Region
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers The rise in domestic & international trade activities due to rapid industrialization & globalization.
Growth in the food & beverage industry to meet rising human needs facilitates.

Market Competitive Landscape:

The pivotal players in the pallet racking market are:

  • Gonvarri Material Handling
  • Hannibal Industries
  • Steel King
  • Elite Storage Solution
  • AR Racking
  • Advance Storage Products
  • Mecalux Daifuku Co. Ltd.
  • Unarco Material Handling
  • Schaefer Systems International
  • KION Group
  • Ridg-U-Rak

Market U.S.P. Covered:

Market Drivers:

Because it is quick and simple to access, affordable, and full of goods and products readily available in the market, the pallet racking industry is anticipated to grow in popularity. These important factors—lower cost, economic worth, practicality, and usefulness—have grown over time, as have the expanding industries and increasing market demand. Any region has seen a sharp rise in pallet racking facilities and warehouses. The market has been increasingly popular all over the world as a result of intensive research and development efforts and new developments in the pallet racking sectors. Its success in the pallet racking business has led to the emergence of a market for its appeal. The ecommerce industry’s continuous growth is anticipated to fuel the market over the forecast period.

The need for pallet racking goods is increasing due to manufacturers and brands investing in efficient storage solutions to enhance their inventory management. Over the projection period, the market will continue to experience growth due to the rising use of pallet racking systems due to its benefits, such as cost-effectiveness and fast product transfer. Additionally, international retail deliveries have increased demand for pallet storage solutions. The expansion of contract logistics and distribution systems will accelerate market expansion in the upcoming years. Rising labor expenses and rising exports and imports between different economic belts also drive the market. Several improvements made by important players also boost the market.

Market Restraints:

Tier-Racks and post-racks are fierce competitors for pallet racking. To some extent, tier-Racks, mobile industrial racks that allow users to maximize selectivity or storage density, restrain industry growth. While pallet racking products are much more resilient, they are difficult to shift, which limits their flexibility for seasonal needs. This is one of the main barriers preventing pallet racking from replacing other storage solutions.

Browse In-depth Market Research Report (120 Pages) on Pallet Racking: https://www.marketresearchfuture.com/reports/pallet-racking-market-8332

COVID 19 Analysis

As the COVID-19 pandemic is generating broad concern and economic hardship for industries and people around the world, it significantly influences the industrial sectors of food and beverage, pharmaceuticals, and personal care. The COVID-19 epidemic, however, had a conflicting effect on the market. Although the pandemic had a substantial negative impact on the manufacturing, automotive, and other industries, the retail e-commerce sector saw significant development. Pharmaceuticals, food & beverage, manufacturing, and hygiene products are just a few industries for which logistics organizations worldwide deliver their goods and solutions.

In addition, these industries won’t be able to meet market demand and will be forced to deal with a financial crisis without a substantial storage solution. This has significantly impacted economic activity, leading to team member layoffs and compensation reductions throughout supplier chains. The COVID-19 outbreak caused workers to flee to their various home countries. Pallet racking production and supply have grown to be difficult for manufacturers due to the scarcity of the workforce.

Market Segmentation

By system type, the market includes shuttle racking, conventional, mobile racking, and hybrid/customized racking. By end user, the market includes automotive, food & beverage, retail, manufacturing, and warehouse & logistics. By racking type, the market includes push-back racking, drive-in racking, cantilever racking, selective racking, pallet flow racking, and carton flow racking.

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Regional Insights

The main driver of the regional market is the existence of numerous manufacturing firms in nations like China, India, and Japan. Additionally, it is anticipated that the region’s fast industrialization will aid the market expansion as a result of the low cost of production. The demand for pallet racking solutions in Asia-Pacific is expected to increase throughout the forecast period due to several important factors, including the rising disposable income of the middle-class population and growing consumer attention on decreasing packaging waste. For the storage of various vehicle spare parts and automobiles, pallet racking systems are employed in the automotive industry. Manufacturers are being compelled to use industrial shelving systems by rising automobile vehicle sales in the U.K. to make the best use of available storage space. With the support of these elements, the U.K. market is anticipated to grow rapidly in the years to come.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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Artificial Intelligence

Compact Solutions, Mighty Results: Cervoz Unleashes the Power of Edge Computing

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TAIPEI, May 20, 2024 /PRNewswire/ — Cervoz Technology, a leader in industrial-grade storage, memory, and expansion solutions, is powering the evolution of edge computing with its innovative solutions.

In today’s data-rich landscape, businesses rely on insights from IoT devices. With advancements in AI and 5G, data volumes surge, straining traditional cloud computing with bandwidth and latency issues. Edge Computing emerges as a solution, processing data at its source for real-time insights crucial for applications like digital twins, autonomous vehicles, and smart healthcare.
What is Edge Computing?
Edge Computing is a decentralized IT architecture that processes data near its origin, often at the network’s edge. This approach divides tasks from central data centers to edge devices and nodes. It enables faster, deeper insights and enhances responsiveness, improving speed and reducing latency compared to centralized clouds. Typically, an Edge Computing system comprises three layers: device, edge, and cloud.
The Device Layer
The device layer, situated closest to the physical world, comprises endpoint devices such as sensors, controllers, and cameras, among others. The layer prioritizes data collection and initial processing for real-time response and efficiency. It requires highly reliable, compact, and energy-efficient components. Cervoz’s M.2 2230 (A+E key /B+M key) NVMe SSDs and DDR4 SO-DIMM modules optimize this setup with fast data access and efficient storage in space-saving designs. They operate reliably across a wide temperature range (-40°C to 85°C) and feature additional conformal coating and anti-vibration filling for enhanced performance in harsh environments.
The Edge Layer
The edge layer, composed of edge servers and gateways, serves as a crucial link between device-layer data sources and cloud-based operations. It is designed for extensive data handling, filtering, and analytics, emphasizing quick operations and real-time responses to minimize reliance on remote data centers. For optimal performance, components must manage high processing loads with minimal latency and maximum stability. NVMe SSDs boasting PCIe Gen3 or higher, such as the Cervoz NVMe PCIe Gen3x4 SSD, with compact M.2 form factors, advanced DRAM cache buffer, and LDPC ECC technology, are perfectly suited for the edge layer. These SSDs enable efficient directory and error correction during high-speed data transfers, thus enhancing data accuracy and reliability.
The Cloud Layer
The cloud layer requires intensive processing and long-term storage, performing analytics, operating AI and machine learning, and managing extensive data systems across various edge locations. It demands high-performing and reliable components. Cervoz NVMe PCIe Gen4x4 SSDs excel with Read/Write speeds of up to 7,100/6,190 MB/s and 4K random IOPS up to 1,000K, with aluminum heatsinks and thermal throttling for overheating issues. DDR5-5600 DRAM boosts this setup with high data throughput and efficient power use, satisfying rigorous computational needs.
Interlayer Connectivity
Reliable, low-latency network connectivity is crucial as data flows between the device layer, edge, and cloud. Cervoz 10GbE Low-Profile Ethernet Card provides high-speed, stable wired connections in high-bandwidth, low-latency environments. Additionally, the new PCIe Compact Low-Profile Ethernet Card is ideal for narrow edge device enclosures. For areas where wiring is impractical, M.2 Wi-Fi cards offer essential wireless flexibility. These connectivity options ensure a solid foundation for seamless data management across all layers.
Cervoz offers comprehensive solutions to enhance edge computing capabilities. From compact NVMe SSDs and DRAM modules, to advanced modular expansion cards, enabling seamless integration, optimized performance, and unmatched reliability in edge computing deployments.
About Cervoz
Based in Taiwan, Cervoz Technology boasts almost twenty years of expertise in developing and providing industrial-grade storage, memory, and expansion solutions across a myriad of global industrial sectors.
ContactsSales: [email protected] 
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Team Exponentia.ai UK attended the AWS summit in London

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Team Exponentia.ai UK celebrates Sanjay Kumar’s insightful session at the AWS summit in London
LONDON, May 20, 2024 /PRNewswire/ — Sanjay Kumar, Head of Exponentia.ai in UK & Europe, delivered an impactful presentation on Driving Manufacturing Innovation through AWS Analytics & AI. The recently concluded AWS Summit took place on the 24th of April in ExCeL, London.

Sanjay shared the stage at Theatre B with Adrian Pinder from DS Smith and Ahmed Raafat from AWS, captivating the audience with insights and experiences from Exponentia.ai’s collaboration with DS Smith.
During the session, Sanjay Kumar highlighted Exponentia.ai’s impressive use cases and case studies, including the Data Factory and Procurement Spend Analytics (PSA) projects undertaken in partnership with DS Smith. These initiatives demonstrated Exponentia.ai’s commitment to leveraging the AWS ecosystem to drive operational efficiency and business growth in the manufacturing sector.
The Exponentia.ai team seized the opportunity to engage with industry peers, partners, and friends, while also exploring the latest innovations showcased at the summit. Their participation in various sessions and visits to innovative booths further enriched their understanding of industry trends and best practices.
Reflecting on the event, Sanjay Kumar expressed his enthusiasm, stating, “The AWS Summit in London provided an excellent platform for us to showcase our expertise in manufacturing analytics and AI. The overwhelming response from attendees reaffirms the value of our solutions in driving innovation and transformation across industries and our commitment to deliver value to our customers through data. We look forward to continuing our collaboration with AWS and our partners to deliver impactful outcomes for our clients.”
The AWS Summit London 2024 marked a significant milestone for Exponentia.ai, reinstating its commitment to excellence and innovation in the field of AI and analytics. As the team eagerly anticipates future events, they remain dedicated to empowering businesses with transformative technology solutions.
For more information about Exponentia.ai and its innovative offerings, please visit www.exponentia.ai. 
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Clarivate Launches AI-Enhanced Solution to Accelerate Trademark Watching

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Providing faster and more accurate answers to critical business questions
LONDON, May 20, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, launched the first publicly available version of Trademark Watch Analyzer today at the 2024 International Trademark Association Annual Meeting. As the next-generation trademark protection solution enhanced by artificial intelligence (AI) and cloud technology, this solution combines Clarivate global trademark and case law data, in-house IP expertise, and cutting-edge AI technology. It will provide faster and more accurate answers to critical business questions by automating key trademark watching tasks and intelligently prioritizing result sets.

Trademark Watch Analyzer connects users to trademark datasets in 258 countries and territories across 191 official trademark registers, as well as data from 7+ million trademark litigation cases. This content is harmonized and connected through AI algorithms which query, connect and mine both datasets delivering advanced insights in supported watch products. This revolutionizes the way trademark watch results are delivered, so that clients can rank results based on their chance of success/opposition.
According to data from SAEGIS®, a CompuMark™ trademark solution from Clarivate, the number of trademark applications filed globally each year has more than doubled since 2014. With over one million new trademarks added to trademark registers around the world each month, the risk of infringement has never been greater, making vigilance of trademark applications essential to protect and grow strong brands.
Gordon Samson, President, Intellectual Property, Clarivate, said: “As the global business landscape grows more complex, trademark professionals are faced with challenges including more data, less context and shorter deadlines. Our advanced AI-driven solution enables clients to confidently monitor their trademarks anywhere in the world, with global monitoring and automated alerts, while also saving time, costs and critical resources. The launch of the Trademark Watch Analyzer is the latest example of our Think forward™ promise — connecting clients to trusted intelligence to ensure an IP-empowered tomorrow.”
With a more intuitive design and user interface, Trademark Watch Analyzer will enable clients to have a much-improved user experience as they work with their results. The navigation will be based on the same architecture as the Brand Landscape Analyzer launched in 2023, providing clients with a more cohesive experience within the Clarivate product suite.
Find out more about Trademark Watch Analyzer here.
About ClarivateClarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media Contact: Jack Wan, External Communications Director [email protected]
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