Warehouse Robotics Market To Reach USD 19.3 Billion By 2032 Report By DataHorizzon Research
The warehouse robotics market is experiencing growth due to advancements in operative productivity and modern industry practices.
Fort Collins, Colorado, Jan. 12, 2024 (GLOBE NEWSWIRE) — The Warehouse Robotics Market size was valued at USD 5.9 Billion in 2022 and is expected to reach a market size of USD 19.3 Billion by 2032 with a CAGR of 12.6%. Robotics technology, powered by machine learning, computer vision, and artificial intelligence, has revolutionized warehouse robots, making them more versatile and attractive to companies. The exponential growth of e-commerce has catalyzed the adoption of warehouse robotics, enabling efficient order processing, accurate order picking, and seamless inventory management to meet customer expectations.
Warehouse robotics are increasingly popular due to the rising demand for automation in warehousing. Robots are faster, more efficient, and less prone to errors than humans, which helps optimize processes. Companies are also turning to robotics to address labor shortages and rising costs. For example, ABB Ltd. has opened a cutting-edge robotics factory in Shanghai that uses AI, digital connectivity, and software to improve robot functionality.
Warehouse robotics streamline operations, reduce reliance on manual labor, and offer flexible and safe solutions. These robotics offer enticing ROI as they increase productivity, reduce errors, and enhance operational coherency. It also promotes safety and compliance by handling hazardous materials, working in challenging conditions, and reducing the risk of workplace injuries.
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The global warehouse robotics market has been segmented into product type, function, end-use industry, and region. Autonomous Mobile Robots are versatile robots that use advanced sensors with mapping technology to navigate independently in dynamic environments. They can perform various tasks, including goods-to-person picking, inventory tracking, and collaborative operations with human workers. E-commerce and retail sectors are driving warehouse robotics adoption by investing heavily in robotics solutions to facilitate high-speed order picking, sorting, and packing, ensuring seamless customer experiences and timely deliveries.
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Warehouse Robotics Market Report Highlights:
- The global warehouse robotics market growth is anticipated to have a CAGR of 12.6% by 2032.
- Companies increasingly turn to warehouse robotics for enhanced efficiency, scalability, and cost savings. Factors such as reshaped logistics and supply chain landscape have driven the growth of the warehouse robotics market.
- North America has witnessed significant investments in warehouse automation, with the United States being the hub for the warehouse robotics market.
- Some prominent players in the warehouse robotics market report include ABB Ltd., Fanuc Corporation, Kuka AG, Yaskawa Electric Corp., Amazon.com Inc., Yamaha Robotics, Fetch Robotics, Inc., Locus Robotics, Omron Corporation, Honeywell International Inc., and Siemens AG among others.
Industry Trends and Insights:
– ABB India introduced ABB Ability SmartMaster for asset performance management.
– KUKA and digital workbench company Upper Bavarian collaborated to produce a mobile harvesting robot for fruit farmers.
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Warehouse Robotics Market Segmentation:
By Product Type: Autonomous Mobile Robots (AMRS), Automated Guided Vehicles (AGVs), Articulated Robots, Cylindrical & SCARA Robots, COBOTS, Others
By Function: Pick & Place, Assembling & Dissembling, Transportation, Packaging
By End-Use Industry: Food & Beverage, Electronics & Electrical, Metal & Machinery, Automotive, Pharmaceuticals, Food & Beverages, E-Commerce, Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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