(MENAFN- GlobeNewsWire - Nasdaq) Wilmington, Delaware, Nov. 05, 2023 (GLOBE NEWSWIRE) -- Allied market Research published a report, titled, “ U.S. and Europe Warehouse automation Market by Component (Hardware, and Software), Application (Automotive, Food & Beverage, E-Commerce, Pharmaceuticals, and Others), and End-User industry (Retailers, and Manufacturers & Distributors): Opportunity Analysis and Industry Forecast, 2022-2031 . According to the report, The U The U.S. and Europe warehouse automation market was valued at $8,467.4 million in 2021 and is projected to reach $34,468.0 million by 2031, registering a CAGR of 14.9% from 2022 to 2031. Warehouse automation includes all the computer-aided robots, vehicles, and other machines such as mobile robots (AGV, AMR), automated storage and retrieval systems (AS/RS), and others including software that are responsible for automating the movement and storage of inventory and other goods in a warehouse. Request Sample PDF:
Prime determinants of growth
E-commerce sector is growing at an exponential rate, owing to the convenience and large variety of products available on the online channels. During the COVID-19 pandemic induced lockdowns the sales in e-commerce sector were sky-rocketed. This has positively impacted the U.S. & Europe warehouse automation market. In addition, increasing number of geriatric populations, and increase in number of diseases have led to the rise in demand for pharmaceuticals. Since, pharmaceutical industry make extensive use of cold storage and warehouses, the demand for warehouse automation is expected to increase. Rising disposable income has also boosted the demand in industries such as automotive, textile, food & beverages, and manufacturing.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $8,467.4 million |
| Market Size in 2031 | $34,468.0 million |
| CAGR | 14.9% |
| No. of Pages in Report | 204 |
| Segments covered | Components, Application, End-User Industry, and Regions. |
| Drivers | Increase in volume of inventory, Growth of E-commerce Industry |
| Opportunities | Advancements in warehouse automation technology |
| Restraints | High Initial Cost |
Covid-19 Scenario
The outbreak of the Covid-19 pandemic had a negative impact on the U.S. and Europe warehouse automation market, owing to the temporary closure of manufacturing firms during the lockdown. Not only the production but also the sale of robots was hampered due to the closure of warehouses sites across the world, especially in the initial period of the pandemic.
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The hardware segment to maintain its leadership status throughout the forecast period.
The U.S. and Europe Warehouse Automation Market is bifurcated into hardware and software. In 2021, the hardware segment accounted for a larger U.S. and European warehouse automation market share, accounting for more than half of the market revenue and software segment is estimated to maintain its leadership status throughout the forecast period. The hardware segment includes automated hardware such as mobile robots (AGV, AMR), automated storage and retrieval systems (AS/RS), automated conveyor & sorting systems, de-palletizing/palletizing systems, automatic identification and data collection (AIDC), and piece picking robots. Growth in industries such as pharmaceutical, food & beverage, automotive, and textile, has increased the number of warehouses and complexities related to them. Thus, warehouses have begun making extensive use of automation, to be more productive, while being error free in their operation.
The e-commerce segment to maintain its leadership status throughout the forecast period
Based on application, The U.S. and Europe warehouse automation market is classified into automotive, food & beverage, e-commerce, pharmaceuticals, and others. The e-commerce segment accounted for a higher revenue share of the U.S. and Europe Warehouse Automation Market in 2021. It is accounting for more than half of the market revenue. This is attributed to the high disposable income of people in the U.S. and Europe and also attributed to the highly convenient purchasing experience, along with the availability of a large variety of products to choose from.
The manufacturers & distributors segment to maintain its leadership status throughout the forecast period
Based on end-user industry, the U.S. and Europe Warehouse Automation Market is bifurcated into retailers, and manufacturers & distributors. Among these, the manufacturers & distributors segment accounted for a larger U.S. and Europe Warehouse Automation Market share in 2021, owing to the larger inventory volume handled by the manufacturers & distributors. It is accounting for more than half of the market revenue. This is attributed to the rise in industrial sectors such as automotive, pharmaceuticals, and food & beverages, which has positively affected the manufacturers of industrial components, hardware, and industry-specific raw materials. However, the retailers segment is anticipated to grow with a higher CAGR during the forecast period.
The U.S. dominates the market share in terms of revenue in 2021
The U.S. and Europe Warehouse Automation Market is analyzed across the U.S., and European countries such as Germany, France, Italy, the UK, Spain, the Netherlands, and the Rest of Europe. In 2021, the U.S. accounted for a larger U.S. and Europe Warehouse Automation Market share in terms of revenue. It is accounting for more than half of the market revenue. The U.S. is the largest market for the pharmaceutical and automotive industry; in addition, it also has a large e-commerce sector. Thus, the warehousing and supply chain has to be efficient to quickly and effectively meet the needs of customers. The long-term outlook for robotics in the U.S. remains very strong as additional companies in all industries become aware of the positive impact of automation on warehouse productivity, efficiency, and management cost.
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Leading Market Players: -
ABB LTD. Amazon, Inc. (Amazon Robotics) Honeywell International Inc. Jungheinrich AG KION GROUP AG (Dematic) Kuka Ag (Swisslog) Schneider Electric Siemens AG SSI-SCHAEFER Zebra Technologies Corporation
The report provides a detailed analysis of these key players in the U.S. and Europe Warehouse Automation market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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