Voice Directed Warehousing Solution Market Current and Future Demand, Analysis, Growth and Forecast By 2031

Voice-directed warehousing Solution Market has revolutionised how goods are handled in warehouses. Voice-directed warehousing is a paperless, hands-free system that instructs and guides warehouse staff in picking chores while directing them to picking locations.

The advantages of voice-directed warehousing over conventional storage methods provide numerous prospects for increased efficiency in a variety of business verticals, including food & beverage, retail, e-Commerce, and medicines. Voice-directed warehouse services that are continuously improved and upgraded might draw in a wide variety of clients from various industry sectors.

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Future Market Projections Look Bright

In this market study, the global voice-directed warehousing solution market is anticipated to witness high growth in revenue from around US$ 1.4 Bn in 2020 to US$ 4.8 Bn by 2031. The market is anticipated to gain traction over the coming years owing to constant focus on innovations in the warehousing industry and rising demand for flexible warehousing management solutions.

Currently, manufacturers across a broad spectrum of industries, including electrical & electronics, food & beverages, pharmaceuticals, retail, e-Commerce, CPG, and transportation & logistics, among others, are all actively piloting and using voice-directed warehousing technologies. Demand is expected to increase further with rising need for efficiency, accuracy, and safety. Owing to these factors, demand for voice-directed warehousing solutions is likely to surge an impressive CAGR of around 12% throughout the 2021-2031 assessment period.

How is Improved Productivity and Decreased Training Time Propelling Demand for Voice-Directed Warehousing Solutions?

The warehousing and distribution industry has been ahead of the curve in using voice technology to automate manual tasks. However, early adopters of voice-directed technology in warehousing have to work around the limitations of the speech recognition technology. Core benefits of voice-directed warehousing solutions include increased productivity, reduced errors, ensured safety, and decreased training time. Voice-directed warehousing technology is increasingly being used across different industry verticals, including retail, e-Commerce, CPG, pharmaceuticals, transportation, and food & beverages, among others.

Voice-directed picking technology is set to transform the supply chain industry while efficiently upgrading the mechanics of distribution centers and warehouses. Increasing innovations such as pick to light and voice-directed solutions in the warehousing industry are further responsible for driving demand for voice-directed warehousing solutions. Apart from the less cumbersome picking process, voice-directed warehousing technology also ensures better safety and damage control practices. Moreover, the market is expected to experience significant growth over the forecast period due to reduction in training times and improved accuracy.

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Market Share Analysis

The voice-directed warehousing solution market is expected to be fragmented over the coming years. This high fragmentation is due to revenue generated by new companies and other established small- and medium-sized voice-directed warehousing solution providers. Market leaders are those that individually hold a market share of above 10%, and this group comprises key players such as Honeywell International Inc., Zebra Technologies Corporation, and Dematic Corporation.

Companies with a market share of over 5% and below 10% are promising players. These companies are likely to showcase quick growth and harness the opportunities that the global market has to. This category consists of companies such as Voiteq Ltd., Ehrhardt + Partner Solutions Limited, LUCAS SYSTEMS, and Voxware, Inc.

Companies that have a relatively lower share worth less than 5% are striving to attract new clients in foreign markets. Such emerging players are HighJump Software Inc., Symphony EYC Solution UK Ltd., Blue Horseshoe Solutions, Inc., BEC (Systems Integration) Ltd., and Proteus Software Ltd., among others.

Competitive Landscape

Market players are relying on expansion strategies to deepen penetration across lucrative markets. These include collaboration with key players, product innovation, acquisitions partnerships, and strengthening of regional and global distribution networks.

Retail is the most attractive industry for voice-directed warehousing solutions. Rapid adoption of voice-directed warehousing solutions in the retail industry to reduce training time, increase customer satisfaction, and offer high return on investment are factors supporting high growth.

For instance, in May 2019, Voiteq entered into a partnership agreement with Card Factory, a retailer of greeting cards and gifts in the United Kingdom, to implement VoiceMan Warehouse Execution System. Both companies are working in partnership with each other and are preparing for the implementation of the next phase of gift picking.

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Some of the leading companies providing voice-directed warehousing solutions are:

  • Honeywell International Inc.
  • Dematic Corporation
  • Voiteq Ltd.
  • Zebra Technologies Corporation
  • Ehrhardt + Partner Solutions Limited
  • Voxware, Inc.
  • Speech Interface Design
  • Zetes Industries S.A.
  • Ivanti Software Inc.
  • BEC (Systems Integration) Ltd.
  • Blue Horseshoe Solutions, Inc.
  • Symphony EYC Solution UK Ltd.
  • HighJump Software Inc.

Key Segments Covered

  • Component
  • Industry
  • Region

Key Regions Covered

  • North America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa
  • Latin America

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