Vertical Lift Module (VLM) Market Analysis Highlights the Impact of COVID-19 (2020-2030)

Vertical lift module (VLM) is an enclosed system which comprises two columns of tray, each of which is separated into fixed shelf locations with an extractor or inserter in the center which can hold a single storage module such as a tray. The VLM automatically locates the stored trays and retrieves them from both the back and front of the unit by pushing a button and delivers them to the operator at an ergonomically positioned pick window. The VLM is designed to eliminate search time and to deliver the stored items to the operator. The module is capable of increasing the productivity up to two third (2/3). Vertical lift module is ideal for reducing the requirement of floor for stored materials. The module has the capability of reducing the square feet as much as 90% while saving money, time, and also increasing productivity. These modules are majorly used for order picking, kitting, consolidation, buffering, parts handling, buffer storage, inventory storage, and various other similar operations. They also help in improving the worker ergonomics, increasing labor productivity, and helps in controlling the ongoing process. VLMs are majorly utilized in automotive, industrial, and healthcare applications.

Increasing need for optimizing the floor space in warehouses, and rising warehouse rentals is expected to drive the VLM market over the forecast period. The benefits associated with the deployment of VLM as compared to standard shelving systems and increasing focus on worker safety and security has also influenced the VLM market growth positively. Furthermore, increasing global warehouse investments, integration of robotics, and growing demand for dual-delivery for numerous end-users is also anticipated to enhance the VLM market growth. VLMs are capable of reducing the labor while maintaining the pick volume, resulting in reduced operating cost in maintaining the warehouses, leading to increased adoption of the module. All the trays are protected from possible accidental collisions, and unauthorized manipulations and removals during storage, thus increasing safety in warehouses and leading to enhanced demand for VLMs. Additionally, the stored products are protected from debris and dust in the warehouse due to outer panel covering of the storage area, which is also expected to boost the implementation of VLMs over the forecast period.

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The global VLM market can be segregated based on delivery type, storage type, industry, and region. Based on delivery type, VLMs are categorized into single-level and dual-level. Single-level is projected to hold major share in revenue over the forecast period. Increasing demand for faster storage and retrieval of heterogeneous goods and growing need for maximum storage space utilization are responsible for the growth of the single-level VLM market. Furthermore, growing need for automated warehousing operations is also expected to drive the market for single-level VLM over the forecast period. Based on storage type, the VLM market is segmented into non-refrigerated and refrigerated VLMs. Non-refrigerated storage is expected to account for major VLM market share due to its huge implementation in metals and heavy machinery, aviation, automotive, and semiconductor and electronics industries for retrieval and storage of raw materials and components. It is majorly preferred because raw materials used in these industries are not susceptible to temperature change.

In terms of industry, the VLM market is categorized into metals & machinery, automotive, chemicals, food & beverage, and healthcare. Automotive industry is projected to witness huge implementation of VLMs over the forecast period. The increased implementation in the industry is due to automotive suppliers which are offering new and innovative products, based on advanced technologies and enabling the real-time information, in order to offer tremendous order fulfilment with respect to efficient product quality and delivery. Automotive suppliers are focused on managing large quantity of goods effectively and intend to improve storage capacity within the available floor space, leading to increased implementation of VLMs in the automotive industry.

Based on region, the global VLM market can be categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is anticipated to hold the maximum share of the VLM market over the forecast period. Various players in the region are mainly focused on promoting the launch of new and innovative products, advanced technologies, and the requirement of optimizing the warehouse space, leading to major implementation of VLMs.

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Prominent players in the global VLM market include Kardex Remstar, Modula, SSI SCHAEFER, Ferretto, Weland Lagersystem AB, Haenel, System S.p.A, and ICAM S.r.l.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

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Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis

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