Wilmington, Delaware, May 07, 2024 (GLOBE NEWSWIRE) -- Warehouse Robotics Market to Reach $31,343.7 Million, Globally, by 2032 at 18.2% CAGR: Allied Market Research
The expansion of the warehouse robotics market is being driven by the increasing consumer need for automated fulfillment and distribution centers as well as the growing recognition of the importance of high-quality and safe products. These factors are expected to have a favorable effect on the outlook of the warehouse robotics industry in the future.
Allied Market Research published a report, titled, "Warehouse Robotics Market by Type (Automated Guided Vehicles (AGVS), Articulated Robotic Arms, Collaborative Robots, SCARA Robots, and Others), Operation (Pick and Place, Assembling and Dissembling, and Packaging), and End User (Food and Beverage, Electronics and Electrical, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the warehouse robotics market was valued at $7,069.1 million in 2023 and is estimated to reach $31,343.7 million by 2032, growing at a CAGR of 18.2% from 2024 to 2032.
Prime determinants of growth
Warehouse robots are autonomous machines that have been developed to improve or replace human labor in a factory environment through automation. These robots consist of two main components: a machine specifically designed for a particular task and the software that controls its operations. Typically, robots are programmed to perform specific functions, such as transferring materials between different slots within the warehouse or between slots and the loading dock. In addition, some robots can reorganize the layout of the warehouse by moving entire racks, thereby optimizing space efficiency. The growing popularity of e-commerce in recent years has resulted in a greater demand for warehouse robotics. As customers increasingly place online orders and expect faster delivery times, warehouses and fulfillment centers are faced with the challenge of meeting these demands without a corresponding increase in budget. Consequently, warehouses are under pressure to expedite the movement of products from storage to shipping at a quicker pace than before.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $7,069.1 Million |
| Market Size in 2032 | $31,343.7 Million |
| CAGR | 18.2% |
| No. of Pages in Report | 290 |
| Segments covered | Type, Operation, End-User, and Region |
| Drivers | Advancements in automation technologies Increase in the e-commerce sector Increase in the number of stock-keeping units |
| Opportunities | Adoption of warehouse robotics by small- and medium-sized enterprises |
| Restraints | High initial costs related to training & deployment. |
The articulated robotic arms segment maintains its leadership status throughout the forecast period.
Based on type, the articulated robotic arms segment held the highest market share in 2023, accounting for more than one-third of the warehouse robotics market revenue and is estimated to maintain its leadership status throughout the forecast period with the need for cost-effective articulated robots capable of interacting with humans and is driven by a variety of causes that change the industrial environment. One significant driver is the demand for more adaptable automation systems that easily integrate into dynamic surroundings, especially in industries where traditional, task-specific robots are prohibitively expensive. Small and medium-sized businesses (SMEs) are increasingly looking for cost-effective automation solutions to boost production without paying costly upfront spending. This need is in line with recent technological improvements, such as enhanced sensors, actuators, and manufacturing techniques such as 3D printing, which are helping to build more cost-effective articulated robots. Collaborative work settings that promote the safe collaboration of people and robots increase the demand for low-cost robots with greater safety features.
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The assembling and dissembling segment maintains its leadership status throughout the forecast period.
By operation, the assembling and dissembling segment held the highest market share in 2023, accounting for more than two-fifths of the warehouse robotics market revenue and is estimated to maintain its leadership status throughout the forecast period. The surge in SKUs resulting from customization and the expansion of e-commerce necessitates efficient automation solutions for handling a diverse array of products. State-of-the-art mini-load storage and retrieval systems not only enhance storage capacities but also enhance the efficiency of the supply chain. Effective inventory management plays a crucial role in driving the demand for warehouses in the e-commerce sector. E-commerce companies must effectively manage extensive and diverse inventories to meet customer requirements. Warehouses are indispensable for storing, organizing, and overseeing inventories to ensure prompt order fulfillment.
The automotive segment maintains its leadership status throughout the forecast period.
By end-user, the automotive segment held the highest market share in 2023, accounting for more than one-third of the warehouse robotics market revenue and is estimated to maintain its leadership status throughout the forecast period. Automotive robotics have revolutionized the manufacturing industry with advancements in technology such as force sensors and vision systems. These robots are known for their reliability, flexibility, efficiency, and accuracy, making production processes more manageable. By utilizing automotive robots, organizations can enhance their quality and production capacity while optimizing space and ensuring the safety of their employees. These robots are capable of performing a wide range of tasks including welding, material handling, assembly, painting, machine tending, and sealing. Unlike human workers, automotive robots can consistently carry out specific tasks without errors, resulting in improved product consistency and overall quality.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2023 and is expected to dominate the market during the forecast period. The e-commerce industry's rapid expansion and the necessity for streamlined logistics operations have led to a significant increase in the requirement for automation in the warehousing and logistics sector. Warehouse proprietors and operators are under mounting pressure to cut down on operational expenses, boost efficiency, enhance precision, and optimize the flow of goods within warehouses. Simultaneously, there is a noticeable scarcity of labor as fewer individuals are choosing to work in warehouses. This disparity between labor supply and demand is a crucial factor driving the adoption of automation solutions.
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Leading Market Players: -
- KION Group
- Honeywell International Inc.
- KUKA Industries GmbH & Co. K
- BlueBotics
- Omron Corporation
- ABB Ltd.
- FANUC
- Kawasaki Heavy Industries, Ltd.
- Hirata Corporation
- Delta Electronics, Inc.
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities. Furthermore, the study highlights Porter’s five forces analysis to determine the factors affecting market growth.
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