by The Warehouse Robotics Market is estimated to be valued at US$ 6.1 Bn in 2023 and is expected to exhibit a CAGR of 11.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Warehouse robots are industrial robots used to facilitate high-speed picking, replenishing and assembling of products in warehouses and distribution centers. They help automate tasks such as transporting materials within facilities, palletizing and depalletizing, packaging and sorting goods. They can lift heavy boxes, maneuver dynamically around obstacles, operate continuously and improve productivity and efficiency of warehouse operations significantly.
Market Dynamics:
One of the major drivers for the growth of the warehouse robotics market is the rising adoption of automation by e-commerce companies to cater to growing consumer demand and increase operational efficiency. E-commerce companies are increasingly using warehouse robots for functions like pick, pack, sorting and distribution to reduce costs and improve order accuracy and fulfil speed. Furthermore, the growing labor costs and challenge to hire workforce is also fueling the adoption of warehouse robots across industries. Warehouse robots allow companies to reduce dependence on human labor and complete repetitive and physically demanding tasks efficiently 24/7 without breaks.
Segment Analysis
The global warehouse robotics market is dominated by mobile robotics segment. Mobile robots are widely used for internal logistics, kitting and transportation applications within warehouses and fulfillment centers. They offer advantages such as versatility, flexibility and ease of integration which have led to their rising adoption over fixed robots. Being autonomous in nature, mobile robots can seamlessly navigate through warehouses without much need for infrastructure changes. This helps lower costs and speeds up deployment of automated solutions.
PEST Analysis
Political: Tax incentives and subsidies by governments globally for automation are encouraging adoption of warehouse robotics. Many countries also have initiatives to promote robotics and automation to gain competitive edge.
Economic: Rising labor costs and shortage of labor are major factors driving increased spending on warehouse automation. Robotics help improve productivity and optimize utilization of existing facilities.
Social: Safety concerns due to COVID-19 pandemic have accelerated demand for contactless automation and robotics across industries including warehouses. Technologies that promote social distancing are gaining wider acceptance.
Technological: Advancements in robotics hardware, AI, machine vision, 5G networks etc. have enabled development of robots with higher capabilities. Technologies like collaborative robots allow humans and robots to work safely side by side.
Key Takeaways
The Global Warehouse Robotics Market Growth is expected to witness high, exhibiting 11.4% CAGR over the forecast period, due to increasing labor costs and shortage of labor. The warehouse robotics market size is projected to reach US$ 35.81 Bn by 2030 from US$ 6.1 Bn in 2023.
North America is expected to maintain its dominance in the global warehouse robotics market. This is attributed to heavy investments by major e-commerce companies and technological advancements in the region. presence of prominent robotics vendors is also contributing to the regional market growth. The warehouse robotics market in North America is anticipated to reach US$ 12.10 Bn by 2030, exhibiting a CAGR of 14.5% during 2023 – 2030.
Key players operating in the warehouse robotics market are Locus Robotics, ABB Limited, Honeywell International Inc., Fanuc Corporation, Geek+ Inc., TGW Logistics Group GMBH, Omron Adept Technologies, Swisslog Holding AG (KUKA AG), Singapore Technologies Engineering Ltd (Aethon Incorporation), Yaskawa Electric Corporation (Yaskawa Motoman), InVia Robotics Inc., Fetch Robotics Inc., Syrius Robotics, Grey Orange Pte Ltd, Hangzhou Hikrobot Technology Co. Ltd and Toshiba Corporation. The key players are focused on integrating advanced technologies like AI, IoT and cloud computing in their solutions to improve efficiency.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
