Warehouse Automation Market is Expected to be Worth Over US$53.2 Bn By 2029
Warehouse Automation Market Momentous as Efficient Logistics Management Captures Limelight, Reports Fairfield Market Research
London, Feb. 14, 2023 (GLOBE NEWSWIRE) — ABB Ltd. acquired PowerTech Converter (PTC) business in 2022 as a part of its external developmental strategy. More recently in 2023, Jungheinrich AG announced acquisition of Storage Solutions Group (Storage Solutions) eying the highly attractive US warehousing and automation space. While acquisitions trend the competition, the global warehouse automation market also witnesses companies vying for long-term engagements with the most lucrative target segment, i.e., SMEs. Fairfield Market Research in its latest published report discusses and analyses the multiple growth facets and competition that characterize the warehouse automation market. “At an estimated 15.4% growth rate between 2023 and 2029, the market will exceed the valuation worth US$53 Bn by the end of forecast year,” states the analyst at Fairfield.
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Key Research Insights
- During the decade-old period, 2019 – 2029, warehouse automation market size will see more than fourfold expansion
- Demand will soar on the back of severe shortage of skilled labor
- Initial investments limit adoption rate across industry verticals
Insights into segmental Analysis
E-commerce industry records over 60% of the total adoption of warehouse automation solutions. While industry behemoths like Amazon lead their way in embracing the technology, the other application segments like food and beverages, pharma, and automotive also reflect growing adoption potential in the near future. However, considerably high initial capital investment, and expensive maintenance remain the key challenges that would restrict the pace of adoption of warehouse automation technologies across industries. The food and beverages industry currently accounts for nearly 12% share in the total market revenue, reports the study.
Insights into Regional Analysis
North America leads the warehouse automation market with over 26% share in the total revenue. Asia Pacific trails closely while Europe follows with more than 25% value share. The US reigns supreme in North America’s overall adoption of warehouse automation technology and the report attributes the same to the massive SME space. On the other hand, the market in Asia Pacific majorly benefits from the Chinese, and Indian industries that have been in the bandwagon when it comes to welcoming automation solutions with open arms. “The top three regional markets contribute a collective revenue of more than US$15 Bn to the global market. Asia Pacific will develop at the fastest rate through 2029 end,” says the analyst.
Key Report Highlights
- Digital logistics is all set for a whopping 22% growth by 2029 and will directly elevate the demand for warehouse automation
- E-commerce is at the forefront of adopting warehouse automation, accounting for over 3/5th of the overall market valuation
- North America represents more than 26% of the market, whereas Europe accounts for over a fourth of the total revenue
Warehouse Automation Market Players
Fetch Robotics Inc., ABB Ltd., Bastian Solution LLC, FANUC Corporation, Daifuku Co Ltd., Jungheinrich AG, Omron Corporation, KUKA AG, Yaskawa Electric Corporation, and SSI SCHAEFER Group constitute some of the leading companies in the global warehouse automation market. The report has covered some of these industry leaders under the competition analysis chapter. The analysis intends to paint a panoramic picture of the competitive landscape and thereby help potential market players with valued insights into the strategic developmental analysis.
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The Global Warehouse Automation Market is Segmented as Below:
By Components Coverage
By End User Coverage
- Manufacturers and distributors
By Application Coverage
- Food and beverage
By Geographical Coverage
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Rest of Middle East & Africa
- ABB Ltd.
- Bastian Solution LLC
- Daifuku Co Ltd.
- FANUC Corporation
- Fetch Robotics Inc.
- Jungheinrich AG
- KUKA AG
- Omron Corporation
- SSI SCHAEFER Group
- Yaskawa Electric Corporation
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Nature-wise Analysis
- Type-wise Analysis
- Distribution-wise Analysis
- End Use-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
|Forecast Year||2023 – 2029|
|Market Size in 2019||US$12.7 Bn|
|Estimated Market Size in 2029||US$53.2 Bn|
|Key Players||Fetch Robotics Inc., ABB Ltd., Bastian Solution LLC, FANUC Corporation, Daifuku Co Ltd., Jungheinrich AG, Omron Corporation, KUKA AG, Yaskawa Electric Corporation, SSI SCHAEFER Group|
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/warehouse-automation-market/more-information
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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