(MENAFN- EIN Presswire) Warehouse automation Systems Market
Increasing manufacturing complexity, technological availability & exponential growth of e-commerce industry are driving the warehouse automation systems market.
PORTLAND, PORTLAND, OR, UNITED STATE, February 22, 2023 /einpresswire.com / -- Allied market Research published a new report, titled, 'warehouse automation systems market Expected to Reach USD 93 Billion by 2031 | Top Players such as -ABB, Ayyeka and Ketos.' The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global warehouse automation systems market was valued at USD 21.7 billion in 2021, and is projected to reach USD 93 billion by 2031, growing at a CAGR of 15.7% from 2022 to 2031.
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Surge in the adoption of IoT and robotics in warehouse management systems to drive the growth of the global warehouse automation systems market. Rise in acceptance of technologies such as big data, AI, ML, and others will create new growth opportunities for the global market. The COVID-19 pandemic substantially impacted the value chain of the warehouse automation systems, thereby adversely affecting the growth of the global market.
The report offers a detailed segmentation of the global warehouse automation systems market based on component, automation type, enterprise size, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
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On the basis of automation type, the physical automation segment held the largest market share in 2021, accounting for more than fourth-fifths of the global warehouse automation systems market share, and is expected to maintain its leadership status during the forecast period. However, the digital automation segment, is expected to cite the highest CAGR of 18.5% during the forecast period.
Based on industry vertical, the retail and consumer goods segment held the major market share in 2021, contributing to more than one-fourths of the global warehouse automation systems market share, and is expected to maintain its leadership position during the forecast period. However, the automotive segment, on the other hand, is expected to cite the fastest CAGR of 21.6% during the forecast period.
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Based on region, the market across the North American region held the major market share in 2021, holding nearly two-fifths of the global warehouse automation systems market share and is expected to maintain its leadership status during the forecast period. However, the Asia-Pacific warehouse automation systems market is expected to cite the fastest CAGR of 17.9% during the forecast period. The report also analyses other regions such as Europe and LAMEA.
The key players analyzed in the global warehouse automation systems market report include ABB Ltd, Badger Meter Inc., Honeywell International Inc., Hydropoint Data Systems, IBM Corporation, Itron, Inc., Landis+Gyr, Neptune Technology Group, Oracle Corporation, Schneider Electric SE, Siemens AG, Suez SA, TaKaDu Ltd, Trimble Inc., XENIUS ENERGY SOLUTIONS PRIVATE LIMITED, Ayyeka, and Ketos.
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COVID-19 Scenario:
✓ The outbreak of the COVID-19 pandemic had negatively impacted the growth of the global warehouse automation systems market, owing to a reduction in the shipment of components and solutions of warehouse automation during the pandemic period.
✓ The COVID-19 pandemic substantially impacted the value chain of the warehouse automation systems, thereby adversely affecting the growth of the global market.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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