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Some of the major factors expected to drive the Global Warehouse Robotics Market include increasing automation, the growing e-commerce industry, and the growing need for efficient warehousing and inventory management.
NEW JERSEY , Dec. 15, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Warehouse Robotics Market" By Product (Mobile Robots, Articulated Robots), By Payload Capacity (Below 10 kg, 11 kg to 80 kg), By Software (Warehouse Management System, Warehouse Control System), By Application (E-commerce, Automotive), By Function (Transportation, Packaging), and By Geography. According to Verified Market Research, the Global Warehouse Robotics Market size was valued at USD 3.97 Billion in 2020 and is projected to reach USD 9.1 Billion by 2028, growing at a CAGR of 14.0 % from 2021 to 2028.
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Global Warehouse Robotics Market Overview
Warehouse robots are no longer nice-to-have accessories for efficient warehouse operations, thanks to their ability to increase productivity, accuracy, and operational efficiency. All warehouse automation adds value to warehousing operations by automating menial, repetitive tasks, allowing human workers to focus on more complex tasks. Robots are increasingly becoming a fundamental aspect of warehouses. Some types of robots used in warehouses include Autonomous Mobile Robots (AMR), Aerial Drones, Automated Guided Vehicles, and Automated Storage and Retrieval systems (AS and RS). The expansion of the retail industry from brick-and-mortar stores to online service providers has made warehouse management more challenging as the number of deliveries has increased exponentially.
Currently, the logistic industry, as a result of the e-commerce revolution, faces a shortage of labor, while the need for more rapid parcel shipments that too with a huge variety of different packing is on a rise. The use of robots in logistics is still at a nascent stage and yet to make any significant impact, however, it is a real option to combat the challenge of labor availability in the industry. According to the International Federation of Robotics, World Robotics 2018 Service Robots report, in 2017, logistics robots experienced robust growth with 69,000 units installed, a 162% increase over 2016. The figure below illustrates the market value for the use of service robots in the logistics sector. It is projected to reach USD 7.5 billion by 2023.
Amazon and several other retailers are operating robots behind the scenes to help with inventory management. In 2012, Amazon started using robotics, with the acquisition of a robotics company called Kiva Systems, since renamed as Amazon Robotics. As of now, Amazon has over 200,000 mobile robots working inside its warehouse network. This robot army has helped the company provide speedy deliveries to Amazon Prime customers. Amazon also admitted that its operating costs have been reduced by 20% after beginning to utilize robotics in their warehouses.
The major players in the market are ABB, Honeywell, KUKA AG , OMRON Corporation, YASKAWA ELECTRIC CORPORATIONS, Fetch Robotics, Inc., Bastian Solutions, Inc., Daifuku Co., Ltd., Dematic, KNAPP AG .
Verified Market Research has segmented the Global Warehouse Robotics Market On the basis of Product, Payload Capacity, Software, Application, Function, and Geography.
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