(EMAILWIRE.COM, November 28, 2018 ) Many warehousing and storage companies are using big data analytics as a tool to plan and optimize warehouse operations. Big data analytics refers to the process of examining large sets of data to obtain useful information such as hidden patterns, market trends, unknown correlations and customer preferences. Big data analyses the location, capacity and flexibility of warehouses to predict customer requirements. It helps in improving warehouse planning and replenishment and creating lean supply chains with sophisticated inventory systems. This maximizes workflow, improves floor utilization and increases operational efficiencies and ROI.
THE BUSINESS RESEARCH COMPANY VALUED THE SPECIALIZED WAREHOUSING AND STORAGE GLOBAL MARKET AT $114 BILLION IN 2017
North America was the largest geographic region in the market in 2017, accounting for more than one-fifth of the global market. The USA was the largest country accounting for one-fifth of the global specialized warehousing and storage market.
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According to The Business Research Companys Consultant, Nitin Gianchandani, robots can be used to pick, pack and replace goods and thus reduce manpower and risks in warehouse operations. They are also used to deal with increased consumer demand, labor shortages and significantly reduce operational costs. For instance, according to a report by Tractica, a leading artificial intelligence advisory services company, warehouse and logistics robot unit shipments are expected to increase from 40,000 in 2016 to 620,000 by 2021, thus indicating widespread use of robotics in warehouse operations.
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Mitsubishi Logistics was the biggest player in the specialized warehousing and storage market, with revenues of $20 billion in 2016.
Specialized warehousing and storage comprises establishments warehousing and storing facilities for categories of goods that need specialized treatment. A main example is farm product bonded warehousing and storage, farm product private warehousing and storage and grain elevators. Other examples are automobile dead storage, bulk petroleum storage, document storage and warehousing, lumber storage and whiskey warehousing.
The specialized warehousing and storage market is segmented into Automobile Dead Storage; Bulk Petroleum And Chemical Storage; Document Storage And Warehousing; Whiskey Warehousing; Others – Specialized Warehousing And Storage.
Specialized Warehousing And Storage Global Market Report 2018is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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