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Augmented Reality (AR) in Warehousing and Logistics Market Will Generate New Growth Opportunities By 2026

May 7th 2019 at 12:24 PM

Augmented reality is defined as the expansion of physical reality by adding layers of computer-generated information to the real environment. Augmented reality solutions are employed to visually change the appearance of a broadcast studio. They combine real life with virtual elements and provide different perspectives of things. They can change a limited area into an unlimited space or transform a green screen with anything a user can imagine. Augmented reality solutions provide a system of mixed encoded cameras including handheld cameras, pedestal/hard cameras, and even steady cameras for production. Players in the logistics & warehouse industry are implementing augmented reality solutions in order to enhance operations that are carried out regularly; for example, inventory management, warehouse management, and employee management. Performance of logistics elements can be improved by using augmented reality (AR) technologies. Object pickup time can be decreased in human-operated warehouses. Meanwhile, augmented reality is at an early stage of adoption in logistics. However, the rate of adoption is likely to increase in the near future. AR can give logistics providers quick access to anticipatory information from anywhere at any time. This is vital for the prospective and exact planning and operation of tasks such as delivery and load optimization and for providing higher levels of customer service.

Major factors driving the augmented reality (AR) in warehousing and logistics market is rising importance of augmented reality and technological advancements in logistics and warehouse operations. Rise in the demand for advanced digital transformation is projected to fuel the demand for augmented reality solutions in the global broadcast industry in the near future. Rise in the demand for live rendering, realistic live shadows, and realistic live reflections is expected to boost the demand for augmented reality solutions worldwide in the next few years. Furthermore, the logistics industry in developed as well as developing countries is witnessing extensive research and development activities. On the other hand, the importance of logistics is growing due to increasing relevance of emerging markets and globalization of supply chains. This, in turn, is driving increasing regulatory efforts in particular around temperature management and, finally, a changing product portfolio that, on one hand, allows new direct-to-market approaches notably for specialties.

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On the other hand, requires differentiated value-focused approaches for value products and generics, where the cost of logistics drives a larger share of total cost. Moreover, forthcoming technological advancements, industrial development, and innovative techniques developed for use of augmented reality (AR) in warehousing and logistics would be key factors fueling the market during the forecast period. On the flip side, lack of expertise and skilled personnel and rising concerns related to security and privacy are estimated to restrain the augmented reality (AR) in warehousing and logistics market in the near future. Also, development of an AR pilot product for logistics is delayed due to lack of hardware equipment for real-time tracking of people in a warehouse environment. In order to verify and validate the approach offered, an agent-based simulation model is being developed. The augmented reality (AR) in warehousing and logistics market has been witnessing strong growth over the last few years, owing to high demand from end-user industries based in Germany, France, China, and Japan.

The global augmented reality (AR) in warehousing and logistics market can be segmented based on component, application, and region. In terms of component, the market can be divided into hardware and services. The hardware segment can be sub-divided into head-mounted display, tracking system, interaction device, and pick-by-vision system, whereas the services segment can be sub-classified into professional services and managed services. Applications of augmented reality in warehousing and logistics include transportation optimization, freight loading and unloading, inventory management, warehouse management, delivery management, and traffic management.

In terms of region, the global augmented reality (AR) in warehousing and logistics market can be segmented into Europe, North America, Middle East & Africa, South America, and Asia Pacific. The augmented reality (AR) in warehousing and logistics in North America is estimated to expand at a substantial rate during the forecast period. This is primarily attributable to early adoption of augmented reality solutions by organizations in the region. North America is expected to hold a prominent share of the global augmented reality in warehousing and logistics market during the forecast period. The market in Asia Pacific is anticipated to expand at a significant pace during the forecast period. The region is estimated to present attractive opportunities to the market in the near future.

Currently, a few vendors operate in the global augmented reality (AR) in warehousing and logistics market. These include DHL Supply Chain, Scandit, Elementum, ProLogistix, Vuzix, Inconso Solutions, and Voxware.

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