Logistics Robots Market Size to Hit $21.01 Billion by 2029 | exhibiting a CAGR of 16.7%

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The global logistics robots market size was valued at USD 6.17 billion in 2021 and is projected to reach USD 21.01 billion by 2029. The global market is expected to grow at a Compound Annual Growth Rate (CAGR) of 16.7% over the forecast period 2022-2029.

Pune, India, Nov. 30, 2023 (GLOBE NEWSWIRE) — The global logistics robots market size was valued at USD 6.17 billion in 2021 and is projected to reach USD 21.01 billion by 2029. The global market is expected to grow at a Compound Annual Growth Rate (CAGR) of 16.7% over the forecast period 2022-2029. This vital information is presented by Fortune Business Insights™, in its report titled, “Logistics robots Market, 2022-2029.” The market is set to gain traction from rising demand for efficient warehouse operations, e-commerce growth, and the need for contactless and agile logistics solutions. Advancements in robotic technologies, increased adoption of autonomous mobile robots, and streamlined supply chain processes contribute to the market’s momentum and widespread acceptance.

Market Drivers and Restraints:

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Industry Share to Rise Owing to Escalating Product Usage in Warehouses

The logistics robots market growth is set to be driven by an increase in product adoption in warehouses for the minimization of operation time of trucks. The robots are used in numerous industries such as automotive, pharma, and others for various applications for enhancing their manufacturing processes. However, the market growth is likely to be hindered on account of various issues pertaining to data privacy and the availability of robotic components.

Market Opportunities:

The opportunities in the Logistics Robots Market arise from the growing demand for warehouse automation, e-commerce expansion, and advancements in artificial intelligence. Customized robotic solutions for order fulfillment, last-mile delivery, and increased adoption of collaborative robot’s present avenues for market players. Strategic partnerships, technology integration, and addressing the evolving needs of the logistics industry can further propel growth in this dynamic market.

Market Challenges:

The challenges in the Logistics Robots Market include high initial investment for robot deployment, complexities in integrating robotics with existing systems, and the need for skilled personnel for maintenance and operation. Concerns over job displacement, regulatory hurdles, and the evolving nature of logistics processes pose obstacles. Overcoming these challenges requires continuous innovation, workforce upskilling, and strategic planning for seamless integration.

Key Industry Development:

May 2022 – Toyota Industries Corporation acquired Viastore, an intralogistics automation solutions provider. With this deal, the company extended its integration services and warehouse automation solutions for meeting the surging demand for robots in the logistics, materials handling, and warehousing sectors.

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Report Scope & Segmentation

Report Coverage Details
Forecast Period 2022 to 2029
Forecast Period 2022 to 2029 CAGR 16.7%
2029 Value Projection USD 21.01 billion
Base Year 2021
Logistics Robots Market Share in 2021 USD 6.17 billion
Historical Data for 2018 to 2020
No. of Pages 140
Segments covered By Type, By Application, By Industry and By Region
Logistics Robots Market Growth Drivers Rising Product Usage in Warehouses for Operational Efficiency to Fulfill Supply Chain Gap
Rising Inclination toward Minimizing Operation Time and Enhancing Customer Satisfaction to Create New Dimensions for the Market

COVID-19 Impact:

Industry Growth Hindered Due to Manufacturing and Supply Chain Disruptions

The COVID-19 pandemic affected the global market owing to disruptions in manufacturing operations and supply chains. Additional factors impacting the product demand comprised challenges associated with international travel restrictions. However, the efforts toward economic revival led to an increase in product demand across the e-commerce, healthcare, and automotive sectors.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/logistics-robots-market-102923

List of the Companies Operating in the Market:

  • ABB Ltd (Switzerland)
  • KUKA AG (Germany)
  • Toyota Industries Corporation (Japan)
  • Fanuc Corporation (Japan)
  • Yaskawa Electric Corporation (Japan)
  • Kion Group Ag (Germany)
  • Toshiba Corporation (Japan)
  • Krones AG (Germany)
  • Kawasaki Heavy Industries Ltd. (Japan)
  • Omron Corporation (Japan)

Report Coverage:

The report provides an in-depth analysis of the major trends that are poised to propel the business landscape over the forthcoming years. It further gives an insight into the key factors fuelling the logistics robots industry expansion over the forecast period. Additional aspects of the report include the critical steps taken by leading industry participants for strengthening their industry position.

Market Segmentation:

AGV Segment to Record Substantial Growth Driven by Increasing Product Adoption

Based on type, the market is segmented into robot arms, autonomous mobile robots, automated guided vehicles, and others. Of these, the automated guided vehicles segment is set to record commendable growth over the forecast period. The surge can be attributed to the escalating product adoption in numerous industries.

Robot Demand to Register Lucrative Growth Owing to Rapid Adoption in Packaging Sector

On the basis of application, the market is categorized into pick & place, palletizing & de-palletizing, transportation, and others (shipment & delivery). The palletizing segment is estimated to register substantial expansion over the estimated period. This can be attributed to the surging preference for automation in the manufacturing sector.

E-Commerce to Record Substantial Surge Considering the Increasing Internet Penetration

Based on industry, the market is fragmented into healthcare, retail, e-commerce, food & beverages, automotive, retail, and others (consumer electronics). The e-commerce segment is set to record appreciable growth throughout the forecast period. The rise is being driven by the increasing popularity of online shopping and surging internet penetration.

Considering the regional landscape, the market is subdivided into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.

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Regional Insights:

Asia Pacific to Gain Traction Due to Presence of Manufacturing Businesses

The Asia Pacific logistics robots market share is expected to record considerable growth throughout the projected period. The rise can be attributed to the increasing implementation of initiatives for the improvement of healthcare infrastructure.

The North America market is slated to register a substantial surge over the estimated period considering the rapid construction of distribution centers and warehouses. The regional growth can be attributed to the soaring demand for logistics robots for saving time and cost. 

Competitive Landscape:

Industry Players Enter into Partnership Agreements to Strengthen Market Presence

Prominent logistics robotic companies are entering into partnership agreements and collaborations for the consolidation of industry position. Many companies are also adopting a series of strategic initiatives such as acquisitions, mergers, and product developments for securing a competitive edge. Besides, several industry players are participating in trade conferences and activities for enhancing their business prospects.

Major Table of Contents:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Executive Summary
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Global Logistics Robots Key Players Market Share Insights and Analysis, 2021    
  • Global Logistics Robots Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2022-2029
    • Key Findings
    • By Type (USD Bn)
      • Automated Guided Vehicles
      • Autonomous Mobile Robots
      • Robot Arms
      • Others (UAV’s)
    • By Application (USD Bn)
      • Palletizing & De-palletizing
      • Pick & Place
      • Transportation
      • Others (Shipment & Delivery, etc.)
    • By Industry (USD Bn)
      • E-commerce
      • Healthcare
      • Retail
      • Food & Beverage
      • Automotive
      • Others (Consumer Electronic, etc.)
    • By Region (USD Bn)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America
  • North America Logistics Robots Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2022-2029
    • Key Findings
    • By Type (USD Bn)
      • Automated Guided Vehicles
      • Autonomous Mobile Robots
      • Robot Arms
      • Others (UAV’s)
    • By Application (USD Bn)
      • Palletizing & De-palletizing
      • Pick & Place
      • Transportation
      • Others (Shipment & Delivery, etc.)
    • By Industry (USD Bn)
      • E-commerce
      • Healthcare
      • Retail
      • Food & Beverage
      • Automotive
      • Others (Consumer Electronic, etc.)
    • By Country (USD Bn)
      • United States
        • By Type
          • Automated Guided Vehicles
          • Autonomous Mobile Robots
          • Robot Arms
          • Others (UAV’s)
      • Canada
        • By Type
          • Automated Guided Vehicles
          • Autonomous Mobile Robots
          • Robot Arms

To be Continued…

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