Tag: Retail & E-commerce

Voice Picking Solution Market Size Worth $3.0 Billion By 2025

The global voice picking solution market size is expected to reach USD 3.0 billion by 2025, registering a CAGR of 14.7% from 2019 to 2025, according to a new report by Grand View Research, Inc. The number of warehouses and distribution centers operating across the world is increasing rapidly in line with the growing online groceries sales; policies, such as next-day delivery, being pursued by retailers; and the subsequent growth of the eCommerce and retail industries. As a result, organizations are aggressively adopting various solutions, such as voice picking solutions, to meet the customers’ requirements. Changing consumer behavior and the growing emphasis on customer satisfaction is also prompting enterprises to opt for a voice picking solution.

Companies operating in several industry verticals are implementing some or the other kind of voice picking solution to enhance their warehouse operations. A voice picking solution is particularly used to assist in the picking process, among other tasks. It can also be integrated with RF scanning to overhaul the entire process. A typical can work efficiently even in the noisiest warehouse environments. Moreover, it is also offered with software to support multiple languages, thereby eliminating the communication barrier. Such a flexible nature is widening the application portfolio of these solutions to cover diverse industry verticals, including transportation & logistics, retail, and food & beverage, among others.

A voice picking solution can facilitate real-time communication between the warehouse management system and the distribution system. The use of voice-based technology can particularly help distribution centers in improving accuracy and productivity, reducing employee training time, and subsequently optimizing the warehouse operations. As such, a voice picking solution can help warehouses in augmenting revenues, increasing the number of customers served, and managing the inventory efficiently. All these factors are expected to contribute significantly to encourage the adoption of voice picking solutions and drive the market growth over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/voice-picking-solution-market

Further key findings from the report suggest:

  • The software segment dominated the voice picking solution market in 2018 as large e-commerce companies emphasized on speeding up product delivery and realizing a higher return on investment
  • Benefits, such as increase worker satisfaction, enhanced customer service levels, and higher throughput, associated with voice-directed solutions are driving the market growth
  • Several retail companies and manufacturing and distribution companies are deploying a voice picking solution to reduce the cost of operations and augment the profitability
  • The Asia Pacific regional market has been gaining traction over the past few years in line with the growing emphasis on enhancing the efficiency of the warehouses in the region
  • Key players in the market include Bastian Solutions, Inc.; Dematic; Ehrhardt + Partner Solutions Limited; Honeywell International Inc.; Ivanti; Lucas Systems; Voiteq; Voxware; Zebra Technologies Corp.; and ZETES, among others.

Payment Gateway Market Worth $71.22 Billion By 2027

The global payment gateway market size is expected to reach USD 71.22 billion by 2027 registering a CAGR of 21.5% from 2020 to 2027, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing use of these billing methods across the globe. Growing usage of various digital channels for payments has also been driving the market growth.

Various companies are using these systems as they allow secure internet transactions, which helps prevent or avoid debit or credit card scams and other fraudulent activities. Such methods also help automate the complete billing process, with faster processing speed and error-free computations.

Various factors, such as the growing trend of digitalization and rising usage of numerous online billing modes like net banking and mobile wallets, are anticipated to propel the market growth over the forecast period. In addition, merging of major e-commerce sites with various payment gateway platforms, partnerships between banks and online retailers, and attractive cashback offers on online billing, are further expected to drive the payment gateway market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/payment-gateway-market

Further key findings from the study suggest:

  • The hosted segment is expected to account for the largest market share over the forecast period
  • Payment gateways can deliver a significant uplift to the profitability of a small & medium enterprises by delivering better customer experience and reducing transaction costs
  • Various factors, such as better shopping experience and increased usage of smartphones, are expected to create growth opportunities for the market in the retail & e-commerce end-use segment
  • North America is estimated to be the largest regional market due to high demand for faster billing solutions as a result of growing e-commerce sales and rapidly changing retail market
  • Key vendors in the market include Stripe; Braintree; Authorize.Net; PayPal Holdings, Inc.; and Amazon Payments, Inc.