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The global warehouse robotics market was estimated at $4.40 billion in 2020 and is expected to hit $15.79 billion by 2030, registering a CAGR of 13.2%
The application of warehouse robotics system includes pick & place, transportation, and packaging.” - alliedmarketresearch
WILMINGTON, DELAWARE, UNITED STATES, April 15, 2024 /EINPresswire / -- Drivers, restraints, and opportunities-
Rise in demand for automation due to prevailing competition in e-commerce, surge in number of stock keeping units, and advancements in automation technologies drive the growth of the global warehouse robotics market . On the other hand, high initial cost related to training & deployment, threat of job displacement, and difficulties in interacting with robots for some end users restrain the growth to some extent. However, adoption of warehouse robotics by SMEs and growing e-commerce industry are expected to create lucrative opportunities in the industry.
According to the report published by Allied Market Research, the global warehouse robotics market was estimated at $4.40 billion in 2020 and is expected to hit $15.79 billion by 2030, registering a CAGR of 13.2% from 2021 to 2030.
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The mobile robots segment to retain the lion's share-
By type, the mobile robots segment held the major share in 2020, garnering more than one-fourth of the global warehouse robotics market. Increase in use of mobile robots in various industry verticals such as automotive, chemicals, and pharmaceuticals drives the growth of the segment. The Cartesian robots segment, on the other hand, is projected to cite the fastest CAGR of 14.4% throughout the forecast period. The fact that Cartesian robot systems provide the advantage of better positioning accuracy fuels the segment growth.
The e-commerce segment to dominate by 2030-
By industry vertical, the e-commerce segment contributed to the lion's share in 2020, holding around one-fifth of the global warehouse robotics market. Growth in the e-commerce sector gives way to rise in demand for robots for handling operations in warehouses, thereby driving the segment growth. However, the pharmaceuticals segment is projected to manifest the fastest CAGR of 14.1% from 2021 to 2030.
North America held the major share in 2020-
By region, North America dominated in 2020, garnering around one-third of the global warehouse robotics market. The market across LAMEA, simultaneously, is expected to cite the fastest CAGR of 15.0% throughout the forecast period. This is because e-commerce in LAMEA is growing at a rapid pace.
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Top Players:
The key players operating in the warehouse robotics industry include ABB Ltd., Fanuc Corp., Kuka AG, Yaskawa, Electric Corp., Amazon Robotics (Amazon Inc.), Yamaha Robotics, Fetch Robotics Inc., Locus Robotics, Omron Corporation, Honeywell International Inc., and Siemens AG.
Several manufacturers in the global warehouse robotics market stopped their business activities in 2020 due to lockdowns implemented in developed and developing countries, owing to ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted the revenue of the warehouse robotics manufacturing companies. For instance, net sales of ABB Ltd. dropped by 6.6% from April 2019 to March 2020. In addition, lack of man power and raw materials affected the supply chain of the global warehouse robotics. However, the market is projected to cover from the 1st quarter of 2023, due to reduced restrictions and reopening of the global warehouse robotics industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace with a start of 2022.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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