Onset of Festive Season to Surge Demand for Conveyor Sorting Systems in Logistics Sector | Logistics and Transportation Segment to Generate Over $350 Million Revenue During 2020-2024
The global conveyor sorting systems market was valued at USD 3.3 billion and is expected to reach over USD 4.2 billion by 2024, growing at a CAGR of over 5%.
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Technavio has announced its latest market research titled Conveyor Sorting Systems Market by End-user, Solution, and Geography - Forecast and Analysis 2020-2024 (Graphic: Business Wire)
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Global Conveyor Sorting Systems Market: Overview
The festive season is just around the corner, and companies are finding ways to manage their supply chain in order to meet demand during peak periods. This is increasing the need for conveyor sorting systems at warehouses to ensure smooth and efficient operations. Moreover, the growth of the F&B industry and the rising demand for healthcare supplies led by the COVID-19 pandemic is further contributing to the growth of the conveyor sorting systems market.
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Global Conveyor Sorting Systems Market Growth Across Regions
APAC is the largest market for conveyor sorting systems. In 2019, the region was valued at USD 1.45 billion and is expected to generate about USD 392 million in revenue during the analysis period. The market growth will also be significant in Europe and North America during the forecast period. While Europe will contribute USD 291 million in revenue to the market, North America will account for USD 188 million incremental growth during the forecast period. South America and MEA will register incremental growth of USD 39.53 million and USD 36.77 million, respectively, during the forecast period.
Global Conveyor Sorting Systems Market: End-User Analysis
The market is observing maximum growth opportunities in the logistics and transportation segment. During the forecast period, the segment is expected to contribute over USD 350 million to the global market while occupying a 33% market share. It is followed by the food and beverage and pharmaceutical segments, respectively. The food and beverage segment is growing at a much faster rate compared to the logistics and transportation segment. By 2024, the market value in the segment will reach about USD 1.26 billion. Similarly, the market value in the pharmaceutical segment is expected to reach about USD 845.58 million by the end of the analysis period.
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Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Logistics and transportation industry - Market size and forecast 2019-2024
- Food and beverage industry - Market size and forecast 2019-2024
- Pharmaceutical industry - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Solution
- Market segments
- Hardware
- Services
- Software
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- BEUMER Group GmbH & Co. KG
- Continental AG
- Daifuku Co. Ltd.
- Eisenmann SE
- FIVES Group
- Honeywell International Inc.
- Interroll Holding AG
- KION GROUP AG
- Siemens AG
- Toyota Industries Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201201005892/en/
