micro fulfillment market, micro fulfillment market size, micro fulfillment market share, micro fulfillment market growth, micro fulfillment market report, micro fulfillment market analysis, micro fulfillment market trends
Overview and Scope
Micro fulfillment refers to a method that deploys small-scale warehousing facilities closer to the consumer in highly populated urban areas to enhance delivery times. A micro fulfillment center (or MFC) is a small-scale storage facility that e-commerce retailers use to store inventory closer to the end consumer to cut costs and transit times. These fulfillment centers are frequently highly automated, which aids in operational efficiency.
Sizing and Forecast
The micro fulfillment market size has grown exponentially in recent years. It will grow from $4.5 billion in 2023 to $6.55 billion in 2024 at a compound annual growth rate (CAGR) of 45.4%. The growth in the historic period can be attributed to growth in e-commerce, urbanization and population density, supply chain optimization, shift in consumer expectations, rise of grocery delivery services..
The micro fulfillment market size is expected to see exponential growth in the next few years. It will grow to $29.51 billion in 2028 at a compound annual growth rate (CAGR) of 45.7%. The growth in the forecast period can be attributed to rapid urbanization trends, growing online grocery segment, expansion of same-day delivery expectations, enhanced software integration, rising demand for sustainable solutions, market competition and cost optimization.. Major trends in the forecast period include customer-centric solutions, partnerships and 3pl collaboration, rise of robotic handling, real-time analytics and ai, specialized solutions for verticals..
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Segmentation & Regional Insights
The micro fulfillment market covered in this report is segmented –
1) By Types: AutoStore, Shuttle Based, Other Technologies
2) By Technology: Traditional WMS, Mobile AMR, Piece Picking Robots
3) By Warehouse Size: Small Size, Large Size
4) By Applications: Grocery, General Merchandise, Other Applications
5) By End-User: E-Commerce, Industries, General Stores
North America was the largest region in the micro fulfillment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micro fulfillment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for the e-commerce sector is expected to propel the growth of the micro fulfillment market going forward. The e-commerce industry refers to the online purchase and sale of goods and services. It includes a wide range of information, processes, and tools for online consumers and sellers, such as smartphone shopping and online payment encryption. E-commerce fulfillment manages the logistics of delivering an online order to a customer’s door, eliminating the requirement for an individual to envelope, address, and ship each order individually. The increasing demand for the e-commerce sector will contribute to the growth of the micro fulfillment market. For instance, in February 2023, according to an article published in Forbes, an American business magazine, electronic commerce sales increased from $5.21 trillion in 2021 to over $5.72 trillion in 2023, and by 2026, the e-commerce market is expected to reach over $8.1 trillion. Therefore, the growing demand for the e-commerce sector drives the micro fulfillment market.
Key Industry Players
Major companies operating in the micro fulfillment market report are LG CNS Co. Ltd, Dematic, Fortna Inc., Instacart, TGW Logistic Group, Opex Corporation, Exotec Solutions, KPI Integrated Solutions, The Kroger Company, Hörmann LLC, Huboo Technologies Ltd., Berkshire Grey Inc., Pack & Send Holdings Pty. Ltd., Swisslog Holding AG, Alert Innovation Inc., StrongPoint ASA, DCL Logistics, Honeywell International Inc., Tompkins Robotics, Armstrong Ltd, PeakLogix., Get Fabric Inc., Diamond Logistics Ltd, Via.Delivery Corporation, Pacline Overhead Conveyors, Takeoff Technologies Inc, Davinci Micro Fulfillment Inc.
The micro fulfillment market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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