(MENAFN- IMARC Group)
IMARC Group's latest research report, titled“ Warehouse Robotics market : Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ,” the global warehouse robotics market size reached US$ 6.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.4 Billion by 2032, exhibiting a growth rate (CAGR) of 10.13% during 2024-2032.
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Factors Affecting the Growth of the Warehouse Robotics Industry:
Advancements in Robotics and Automation Technology:
Innovations in robotics, such as improved sensors, machine learning, artificial intelligence, and enhanced mobility, have significantly expanded the capabilities of warehouse robots. These robots are becoming more adept at tasks that were traditionally challenging, such as navigating complex warehouse environments, identifying, and handling a wide range of objects, and learning from their surroundings to improve efficiency. As technology continues to advance, it allows for more sophisticated and cost-effective robotic solutions, making them accessible and attractive to a broader range of businesses, including small and medium-sized enterprises.
Increasing Focus on Safety and Efficiency in Warehouses:
There is a growing emphasis on safety and efficiency in warehouse operations, which is driving the adoption of robotics. Manual warehouse operations can be prone to errors and accidents, leading to increased costs and potential safety risks. Robots, on the other hand, can perform repetitive and dangerous tasks with high precision and consistency, reducing the risk of accidents and improving overall safety. Additionally, robotic systems can optimize warehouse space usage and inventory management, leading to increased operational efficiency. This focus on enhancing safety and efficiency is compelling many businesses to invest in robotic solutions for their warehouses.
Global Supply Chain Transformation and Resilience:
The evolving nature of global supply chains and the need for resilience in the face of disruptions, such as the COVID-19 pandemic, are also driving the warehouse robotics market. The pandemic has highlighted the importance of having flexible and adaptable supply chains. Warehouse robotics play a crucial role in this by providing scalable solutions that can adapt to changing demand patterns and help maintain operations during disruptions. Furthermore, as businesses seek to reduce their dependence on human labor and increase automation to buffer against future disruptions, the demand for warehouse robotics is expected to rise.
Key Players Included in Global Warehouse Robotics Market Research Report:
ABB Ltd Amazon.com Inc Fanuc Corp Fetch Robotics Inc Honeywell International Inc Kuka AG Locus Robotics Omron Corporation Siemens AG Yamaha Motor Co. Ltd Yaskawa Electric Corp
Warehouse Robotics Market Trends:
The increasing need for customization and flexibility in warehouse operations is also driving the growth of warehouse robotics. Businesses are seeking robotic solutions that can be tailored to their specific needs, whether it's handling different types of products, working in varied warehouse layouts, or scaling operations up or down based on demand. Robotics manufacturers are responding by offering more modular and adaptable systems that can easily be integrated into existing warehouse infrastructures and adjusted as requirements change. This trend towards customizable and flexible robotic solutions is making them appealing to a wider range of industries and businesses.
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Key Market Segmentation:
Breakup by Type:
Articulated Gantry Automated Storage and Retrieval System (ASRS) Mobile Others
Articulated and gantry robots represented the largest segment, due to their flexibility, high payload capacity, and suitability for a variety of tasks including picking, packing, and palletizing.
Breakup by Function:
Storage Trans-shipments Packaging Others
Storage and trans-shipments represented the largest segment, as these operations are fundamental in warehouse logistics, and robotics significantly enhance efficiency and accuracy in these areas.
Breakup by End User:
Food and Beverages Automotive Retail Electronics and Electrical Pharmaceuticals Others
The food and beverages and automotive sectors represented the largest segment, driven by the need for precision, speed, and consistency in handling and packaging operations in these industries.
Breakup by Region:
North America (United States, Canada) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
North America and Asia-Pacific were the largest markets, with North America's growth fueled by advanced technology adoption and e-commerce expansion, and Asia-Pacific's growth driven by rapid industrialization and increasing automation in countries like China and Japan.
Key Highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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