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IMARC Group's report titled“ Logistics Robots market Report by Component (Hardware, Software), Robot Type (Autonomous Mobile Robots, Automated Guided Vehicles, Robotic Arms, and Others), Function (Pick and Place, Loading and Unloading, Packing and Co-Packing, Shipment and Delivery, and Others), Operation Area (Factory Logistics Robots, Warehouse Logistics Robots, Outdoor Logistics Robots, and Others), End Use industry (E-Commerce, Healthcare, Retail, Food and Beverages, Automotive, and Others), and Region 2024-2032 “. The global logistics robots market size reached US$ 18.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 98.9 Billion by 2032, exhibiting a growth rate (CAGR) of 19.7% during 2024-2032.
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Factors Affecting the Growth of the Logistics Robots Industry:
Demand for Automation in Warehouses:
The rising need for automation in warehouses is supporting the market growth. Businesses are under pressure to expedite their logistics and delivery systems as online shopping and just-in-time (JIT) production models gain prominence. Automation through robots significantly enhances efficiency, reduces human error, and increases throughput in warehouse operations. These robots, equipped with artificial intelligence (AI) and machine learning (ML) capabilities, can adapt to varying inventory tasks, manage stock more effectively, and work continuously without fatigue. They are also instrumental in reducing labor costs and addressing labor shortages in the logistics sector.
Advancements in Robotic Technology:
Improvements in robotic technology is propelling the growth of the market. Modern logistics robots are becoming more intelligent, versatile, and cost-effective than their predecessors. Improvements in sensors, AI, ML algorithms, and robotic mechanics are enabling robots to perform complex tasks with higher precision and reliability. These advancements are expanding the range of applications for logistics robots, making them suitable for various environments, ranging from small warehouses to large distribution centers. Additionally, the integration of the internet of things (IoT) and cloud technologies allows for real-time data analysis and remote monitoring, enhancing operational efficiency. This technological enhancement is not only improving the capabilities of logistics robots but also making them more accessible to a broader range of businesses.
Labor Shortage and Rising Labor Costs:
The shortage of skilled labor and rising labor costs, especially in the logistics and manufacturing sectors, is causing hindrance in the operations. Logistics robots present a viable solution to this problem by automating tasks that are typically labor-intensive. By integrating robots into their operations, companies can maintain consistent productivity levels despite workforce fluctuations. Additionally, robots can perform tasks around the clock without the need for breaks, vacations, or sick leave, offering a level of reliability and efficiency that is hard to achieve with human labor alone. This shift not only helps companies manage their operational costs better but also allows them to reallocate their human workforce to more complex, value-added tasks where human skills and intelligence are irreplaceable.
Leading Companies Operating in the Global Logistics Robots Industry:
ABB Ltd. Asic Robotics AG Clearpath Robotics Inc FANUC Corporation Fetch Robotics Inc. KUKA Aktiengesellschaft (Midea Group Co. Ltd.) Omron Corporation Toshiba Corporation Yaskawa Electric Corporation.
Logistics Robots Market Report Segmentation:
By Component:
Hardware exhibits a clear dominance in the market. It can be attributed to its integral role in providing the physical infrastructure and technology necessary for robot operations.
By Robot Type:
Autonomous Mobile Robots Automated Guided Vehicles Robotic Arms Others
Automated guided vehicles represent the largest segment on account of their widespread adoption in various industries, showcasing their versatility and efficiency.
By Function:
Pick and Place Loading and Unloading Packing and Co-Packing Shipment and Delivery Others
Pick and place hold the biggest market share. It plays a pivotal role in automating material handling processes, enhancing productivity, and reducing human intervention.
By Operation Area:
Factory Logistics Robots Warehouse Logistics Robots Outdoor Logistics Robots Others
Factory logistics robots account for the majority of the market share as they are extensively employed within manufacturing environments to streamline internal logistics.
By End Use Industry:
E-Commerce Healthcare Retail Food and Beverages Automotive Others
E-commerce represents the leading segment, owing to the growing demand for efficient and automated logistics solutions.
Regional Insights:
North America: (United States, Canada) Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America: (Brazil, Mexico, Others) Middle East and Africa
United States dominates the market due to technological advancements in improving various logistics operations and increasing investments in automation across industries.
Global Logistics Robots Market Trends:
The rising use of robotics-as-a-service (RaaS) models in logistics is contributing to the market growth. RaaS allows companies to lease robots or pay for robotic services on a subscription basis rather than investing in the outright purchase of robotic systems. This model lowers the barrier to entry for smaller and medium-sized enterprises (SMEs) that might need more capital for large upfront investments. It also provides flexibility, as companies can scale their robotic workforce up or down according to demand. This trend reflects a shift towards more adaptable, cost-effective robotic solutions in logistics, allowing a broader range of businesses to leverage robotic technology.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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.
IMARCs 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 companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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