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ALBANY. N.Y. , June 22, 2022 /PRNewswire/ -- The value of the global sortation systems market is likely to stand at US$ 1.7 Bn in 2022. The market is likely to rise at a CAGR of 5.1% during the forecast period, from 2022 to 2026. The global sortation systems market is predicted to be worth US$ 2 Bn by 2026. The global sortation systems market is being shaped by effective material handling and e-commerce order fulfilment. The global market is expected to see a gradual move toward automated systems and the use of new technology. Different types of sortation systems are estimated to drive the global market owing to their benefits in pricing optimization, inventory management, product sorting, and segmentation.
Customers have preferred e-commerce to traditional brick and mortar since the start of COVID-19. This has not only altered the retail landscape, but it has also created a sizable market for online selling and buying. In addition to that, several new companies entered the online market segment in 2020-2021, resulting in an increase in demand for sortation systems. Usage of artificial intelligence and developments in 3D capabilities are two major factors that are predicted to boost the market growth.
Retail and e-commerce are likely to remain the most important end-use industry segments during the forecast timeframe. By 2026, it is expected to attain US$ 636 million , with a CAGR of 4.9% during the forecast period. E-commerce enterprises are demanding automated sorting systems as warehousing becomes more automated, allowing for more efficient and precise sorting.
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Key Findings of Market Report
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Global Sortation Systems Market: Growth Drivers
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Global Sortation Systems Market: Key Players
Some of the key market players are
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Global Sortation Systems Market: Segmentation
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