Global Micro Fulfillment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Micro Fulfillment Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Micro Fulfillment market finds that the global Micro Fulfillment market reached a value of USD 6.17 million in 2022. It’s expected that the market will achieve USD 26491.6 million by 2028, exhibiting a CAGR of 303.15% during the forecast period.

Influence of COVID-19 Outbreak on Micro Fulfillment Market for Grocery and General Merchandise Industry Development

Initially, the spread of COVID-19 has had a dramatic impact on global consumption patterns. One is the trend of an increase in demand for omnichannel groceries, which include door-to-door delivery, curbside pickup, and buy online purchase in-store pickup (BOPIS). Retailers cannot keep up with unprecedented levels of online ordering, and consumers have been chasing advertising spaces that are not normally available. As consumers cope with social distancing, self-quarantine, and lifestyle changes, the pandemic has greatly increased online grocery sales. For example, in the US, due to the epidemic, the penetration rate of households using e-commerce grocery services has accelerated dramatically within a year.
Under this circumstance, a large number of physical grocery stores and general merchandise have to quickly find new strategies to adapt to the strong growth of online ordering. Consumers increasingly need same-day delivery, rather than endure the 2-3 day delivery deadlines in online shopping, micro fulfillment centers (MFC) may be the best answer to make grocery store e-commerce profitable. Retailers such as Walmart, Amazon, Kroger, Woolworths, Amazon, Ocado, Carrefour, Uniqlo, Meijer, HEB, Albertsons, Majid Al Futtaim, and Ahold Delhaize have already adopted and implemented these new technologies during the COVID-19.
Additionally, under the influence of this epidemic, shortage of labor in the supply chain, rising labor costs, and rising demand for contactless delivery have exposed labor inefficiencies that are becoming more and more serious. Artificial intelligence-driven robots in warehouses that can intelligently pick and pack orders can greatly reduce the risk of virus infection.
Of course, those habits and sudden increases in demand are undoubtedly temporary and will change as COVID-19 subsides. However, as this form of superior performance continues to highlight, for example, faster delivery, low labor costs, less construction and installation time, low capital expenditures, and low total cost of ownership, and other factors will prompt retailers and individual consumers may increasingly rely on new forms of delivery after the COVID-19.

Strength

Demand is poised to skyrocket as retailers seek to defend market share within the changing market landscape
Convenience and quick delivery windows has become popular
Micro Fulfillment can achieve contactless delivery

Weakness

The supply chain of the industry is not very agile
Due to higher demand for technology, it is difficult to popularize in developing regions

Opportunities

Online grocery will contribute more to overall grocery sale
New demand for efficient, accurate and rapid order fulfillment solutions
The Internet of Things (IoT) is evolving rapidly
The epidemic rapidly drives demand for daily necessities in the short term

Threat

Its supply chain is vulnerable to all kinds of risks. From cyber-attacks to the threat of counterfeit products, to the potential for trade wars and port strikes.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Takeoff Technologies ,Autostore ,Ocado ,Attabotics and Fabric are the five key players in the global Micro Fulfillment market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Micro Fulfillment market in the past 5 years.
Takeoff is an eGrocery solution that empowers retailers to attain profitable online growth by leveraging automation at a hyperlocal scale. The Company is based in Massachusetts.
Fabric was founded in Tel Aviv in 2015 and is now headquartered in New York. Its Series B will be used for its U.S. expansion, where it currently has 14 sites under contract, including three micro-fulfillment centers that are currently being built in New York City.

Segmentation Overview:

Among different product types, Shuttle Based segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Between 5000 Sq. Ft. and 25000 Sq. Ft. segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Micro Fulfillment market covered in Chapter 3:

Fabric
Takeoff Technologies
Opex Corporation
TGW
Exotec Solutions
Dematic
Vanderlande
Honeywell Intelligrated
Attabotics
Alert Innovation
Autostore
Swisslog
Addverb Technologies
Ocado

In Chapter 4 and Chapter 14.2, on the basis of types, the Micro Fulfillment market from 2018 to 2029 is primarily split into:

AutoStore
Shuttle Based

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Micro Fulfillment market from 2018 to 2029 covers:

Less than 5000 Sq. Ft.
Between 5000 Sq. Ft. and 25000 Sq. Ft.
More than 25000 Sq. Ft.

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)