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WASHINGTON, Feb. 28, 2023 (GLOBE NEWSWIRE) — The Global Micro Fulfillment Market is valued at USD 2.3 Billion in 2021 and is projected to reach a value of USD 20.5 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 44.1% over the forecast period 2022-2028.
The number of residential complexes has expanded throughout several regions due to the development of urbanization. This has a favorable impact on the Micro Fulfillment market’s expansion. Additionally, factors like rising internet usage and government initiatives to boost e-commerce play a significant part in propelling the development of these industries.
We forecast that the material handling category in the Micro Fulfillment market sales will account for more than 55% of total sales by 2028 as logistical endeavors and the Micro Fulfillment sector search for fresh and inventive approaches to improve design, speed, and accuracy for material handling.
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An Increase in the Utilisation of Micro Fulfillment Centres in E-Groceries is Driving Market Expansion
Micro Fulfillment services being used by e-grocery companies are driving more and more market expansion. The number of MFC centers is proliferating in e-commerce and e-grocery strategies. Online e-grocery platforms offer their customers the service of products and groceries with the assistance of small and medium-sized MFC centers, which deliver the products to their doorstep. The Micro Fulfillment market is anticipated to grow due to these causes. The market’s main drivers are major global e-commerce firms, including Amazon, Kroger, Walmart, Alibaba, and Ocado.
Micro Fulfillment Centres’ Technological Advancements Are Opening Up New Market Opportunities
Automation and robotics use, two technological developments in Micro Fulfillment centers, are opening up many prospects for new companies and the MFC market. An automated mobile robot is a robot programmed with algorithms that can navigate its environment without human supervision and add value to the path. The Micro Fulfillment market and logistical endeavors are constantly searching for fresh, inventive approaches to improve their design, accelerate, and boost speed and precision. Many micro-fulfillment businesses seek assistance from AMRs. AMRs use a variety of sensors, software, algorithms, artificial intelligence (AI), and machine learning for path planning as they move around the workplace.
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Top Players in the Global Micro Fulfillment Market
- Alert Innovation Inc. (US)
- Ahold Delhaize (Netherlands)
- Bastian Solutions LLC (Indiana)
- Davinci Micro Fulfillment (US)
- Dematic (US)
- Flowspace (LA)
- Fortna Inc. (US)
- Honeywell International Inc. (US)
- HÖRMANN (Germany)
- Instacart (US)
- KPI Integrated Solutions (US)
- LOCAD OPEX (UK)
- PACK and SEND Holdings Pty. Ltd. (Australia)
- PACLINE OVERHEAD CONVEYORS (Canada)
- Swisslog (Switzerland)
- The Kroger Company (US)
For Additional Information on Micro Fulfillment Market Players and Detail List, Download a Report PDF Brochure
Recent Developments in the Global Micro Fulfillment Market
- March 2021: Honeywell International, Inc. announced their latest shipping innovation in the form of the industry’s first robotic technology by launching a smart depalletizing robot for Micro Fulfillment. This product is anticipated to increase warehouse and distribution center automation.
- July 2022: Alert Innovation, Inc., a market leader in e-grocery fulfillment automation, announced signing a definitive work agreement to be completely acquired by Walmart. This is expected to boost the Micro Fulfillment market impact positively. Alert Innovation has been working together with Walmart since 2016 on Walmart’s market fulfillment centers (MFCs) and began with the pilot of the Alphabot System in Walmart’s first MFC in New Hampshire in 2019.
Top Trends in Global Micro Fulfillment Market
- One trend that Vantage Market Research (VMR) expects to see in the Micro Fulfillment industry is the availability of various goods. Major players in the Micro Fulfillment industry provide a wide range of goods and services to satisfy customer expectations. To remain competitive in the market, they continuously innovate their product line.
- Another trend that VMR predicts will continue in the Micro Fulfillment industry is expanding its partnerships with tech firms. Major businesses in the e-commerce sector are collaborating with tech firms to upgrade their tiny fulfillment centers with cutting-edge hardware like robots and software.
Top Report Findings
- Based on End User Industry, most of the Micro Fulfillment market’s revenue is controlled by the Retailers category because people use e-commerce websites more regularly. Furthermore, several major companies, including Amazon, Walmart, and Alibaba, are investing significantly in micro warehouses.
- Based on Components, most of the Micro Fulfillment market’s revenue is controlled by the material handling category as efforts in logistics and the micro-fulfillment industry look for novel and creative ways to enhance the design, speed, and accuracy of material handling.
- Based on Applications, most of the Micro Fulfillment market’s revenue is controlled by the merchandise category. E-commerce merchandising aims to draw attention to the products customers want to see and buy without interfering with or disrupting their browsing experience.
Browse Market Data Tables and Figures spread through 150 Pages and in-depth TOC on Micro Fulfillment Market Forecast Report (2022-2028).
Retailer Category in Micro Fulfillment Market to Generate Over 60% Revenue
Vantage Market Research has analyzed the market for Micro Fulfillment to understand its current state and potential future growth factors. For better understanding, based on the vertical, the Micro Fulfillment market is divided into Retailers, Manufacturers, and Distributors.
During the forecast period, the market for Micro Fulfillment is anticipated to experience the highest CAGR for the retailer category due to individuals using e-commerce websites more frequently. Some of the biggest businesses, including Amazon, Walmart, and Alibaba, heavily invest in tiny warehouses.
On the other hand, the manufacturers and distributors category is anticipated to grow significantly throughout the forecast period as they require storage for both their merchandise and resources. Manufacturers use large-scale warehouses since they have much inventory but need more storage space.
North America Region in Micro Fulfillment Market to Generate More 43% Revenue
North America dominates the market and will continue to expand throughout the projection period due to the e-commerce industry’s recent advancements in Micro Fulfillment technologies. Furthermore, this region’s automation in industries like groceries, food & beverage, retail, etc., has prompted several e-commerce centers to concentrate on this Micro Fulfillment strategy.
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Global Micro Fulfillment Market Segmentation
By End User Industry
- Control Systems
- Material Handling
- North America
- United States
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Scope of the Report:
|Market Size in 2021||USD 2.3 Billion|
|Revenue Forecast by 2028||USD 20.5 Billion|
|CAGR||44.1% from 2022 to 2028|
|Forecast Year||2022 to 2028|
|Key Players||Alert Innovation Inc, Ahold Delhaize, Bastian Solutions LLC, Dematic, Flowspace, Fortna Inc., Honeywell International Inc., HÖRMANN, Instacart, KPI Integrated Solutions, LOCAD, OPEX, PACK and SEND Holdings Pty. Ltd., Pacline Overhead Conveyors, Swisslog, The Kroger Company,|
|Customization Options||Customized purchase options are available to meet any research needs. Explore customized purchase options|
Key Questions Answered in the Micro Fulfillment Market Report:
- What is the current size and future potential of the micro fulfillment market?
- What are the drivers and restraints of the micro fulfillment market?
- What are the various types of micro fulfillment models available in the market?
- What are the different components of micro fulfillment systems?
- What are the benefits and challenges of micro fulfillment systems for retailers and consumers?
- What are the key trends and opportunities in the micro fulfillment market?
- What are the major players operating in the micro fulfillment market?
- What are the key strategies adopted by these players to maintain their market position?
- What are the new product launches and developments in the micro fulfillment market?
- What are the regional trends and growth prospects of the micro fulfillment market?
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