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Executive Summary
Azoth Analytics has released a research report titled “Global Lift Modules Market (2023 Edition)†which provides a complete analysis of the Global Lift Modules industry in terms of market segmentation By Height (Less Than 15 Meters, 10 to 15 Meters and More Than 15 Meters), By Per Tray Load Capacity (Up to 300 Kgs, 300 to 600 Kgs and More Than 600 kgs), By End User Industry (Retail and E-Commerce, Automotive, Electronics, Health Care, Food and Beverages, Others) for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029.
The Global Lift Modules market showcased growth at a CAGR of ~8% during 2019-2022. The market was valued at USD 1.32 Billion in 2022 which is expected to reach USD 4.42 Billion in 2029. The rapid growth of e-commerce worldwide has led to an increasing need for efficient and reliable fulfilment systems within warehouses and distribution centres. Lift Modules are helping meet this demand by optimizing storage and retrieval processes. Moreover, as the world economy especially developing countries is heading towards massive industrialization, vertical lift modules will be pivotal factors for the efficient and smooth working of many industries like health care and automotive.
The Global Lift Modules Market is expected to grow in the forecast period and register a market value of USD 4.42 Billion in 2029 at a CAGR of 18.9% during the forecast period. Lift Modules are designed to maximize vertical storage space, making them ideal for businesses and industries facing space constraints. They eliminate the need for traditional aisles, allowing for the efficient use of available warehouse or storage space.
Moreover, inventory management solutions, which include software and technologies designed to streamline and optimize inventory processes, have revolutionized the way businesses handle their inventory. These solutions help businesses efficiently track, manage, and control stock levels, resulting in improved productivity, reduced costs, and enhanced customer satisfaction and with integration of Lift Modules can have a huge impact on inventory management. Additionally, inventory management solutions integrated with Lift Modules enable businesses to automate various processes such as inventory replenishment, cycle counting, and order picking. This automation saves time, reduces errors, and improves overall operational efficiency. Businesses can also benefit from advanced analytics and reporting capabilities, allowing them to make data-driven decisions and optimize their inventory strategies.
Healthcare facilities, including hospitals and clinics, require efficient storage solutions for medical supplies, equipment, medications, and patient records. Lift Modules provide organized and secure storage for these critical items. Lift Modules are used to store and dispense medications in hospital pharmacies and healthcare institutions. These systems help maintain accurate inventory levels, reduce medication errors, and improve patient safety. Moreover, Lift Modules offer improved inventory accuracy, traceability, and control. Healthcare facilities can efficiently manage their supplies, reduce stockouts, and optimize inventory levels, ultimately leading to cost savings and streamlined operations. In healthcare, space is often a premium. VLMs utilize vertical space, allowing healthcare facilities to optimize their storage capacity without expanding the floor area. This efficient use of space is especially valuable in crowded hospital environments.
The healthcare sector is under pressure to reduce operating costs. Lift Modules automate the storage and retrieval of medical supplies and equipment, reducing the need for manual labour, which can result in substantial cost savings. VLMs can improve patient care by ensuring that healthcare professionals have quick access to the necessary medical supplies and equipment, leading to more efficient and effective patient treatment.
Scope of the Report
• The report analyses the Lift Modules Market by Value (USD Million).
• The report presents the analysis of the Lift Modules Market for the historical period of 2019-2022, the estimated year 2023 and the forecast period of 2024-2029.
• The report analyses the Lift Modules Market By Height (Less Than 15 Meters, 10 to 15 Meters and More Than 15 Meters)
• The report analyses the Lift Modules Market By Per Tray Load Capacity (Up to 300 Kgs, 300 to 600 Kgs and More Than 600 kgs).
• The report analyses the Lift Modules Market By End User Industry (Retail and E-Commerce, Automotive, Electronics, Health Care, Food and Beverages and Other End User Industries).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Types, by mode of operation & by end users.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analyzed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Kardex Holding AG, Modula S.p.A, Hänel Storage Systems, Mecalux, Ferretto Group S.p.A, AutoCrib, SSI Schaefer Inc., Weland Solutions AB Vidmar and White Systems Inc.
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