The market for warehouse robotics is expected to reach $5 billion in revenue in 2022, expanding at a remarkable 13% CAGR during that time. The market is anticipated to be driven by the trend of industrialization growing and the introduction of industry 4.0. In light of this, it is predicted that the market valuation will surpass US$ 9.5 billion in 2032.
Due to their employment in a variety of industries, including food and beverage, automotive, pharmaceuticals, electronics, construction, defense, and oil and gas, warehouse robots are becoming increasingly popular and important. Large sums of money are being spent by businesses on research and development in the warehouse robotics market, particularly in industrialized nations for product innovation and enhanced automation. The market for warehouse robots is expanding at a good rate internationally due to the quick development of technology and the rising need for warehouse robotics to enhance product quality, production, and space usage.
To fulfill rising consumer demand over the holiday season and reduce operating costs by a fifth, Amazon put around 15,000 robots in its US warehouse in December 2014. They also wanted to deliver goods to customers more quickly and on schedule to compete with brick-and-mortar retailers. Robotics business Kiva Systems created the technology. Amazon recently disclosed plans to rebrand Kiva Systems as Amazon Robotics and to appoint a head of Robotics.
Warehouse Robotics Market: Drivers & Restraints
The warehouse robotics market is primarily driven by increased demand for automation, time and cost savings, an increase in stock keeping units, rising consumer awareness of the importance of high-quality and safe production, technological advancements, and increased use in a variety of applications and industries, including electronics and food and beverage.
One of the challenges impeding the growth of the warehouse robotics market is the initial high adoption cost due to training, deployment, lack of knowledge, and difficulties in dealing with robots for some end users.
Warehouse Robotics Market: Overview
The market for warehouse robots has expanded significantly at a high CAGR as a result of recent technological breakthroughs and rising demand for its applications. Due to rising automation demand and growing awareness of quality manufacturing, Asia Pacific will show the quickest growth in the warehouse robots industry.
Warehouse Robotics Market: Region-wise Outlook
For the forecast period, the market for warehouse robots is anticipated to grow at a double-digit CAGR. The warehouse robotics market is divided into seven major geographic regions based on geography: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, Middle East & Africa. Due to increased investment by the automotive industry in R&D and R&D, Asia Pacific is the region with the fastest expanding warehouse robots market.
Warehouse Robotics Market: Key Players
ABB Robotics, Kiva Systems, Foxconn Technology Group, Seegrid, SSI Schaefer, Swisslong, and Fanuc Corporation are a few of the leading market participants in the warehouse robotics sector.
The study report provides a thorough analysis of the market and is filled with intelligent observations, information, historical facts, and market data that have been statistically backed and verified by the relevant industries. It also includes estimates made utilizing the appropriate methodology and set of assumptions. According to categories including market segments, geographies, types, technologies, and applications, the research study offers analysis and information.
Warehouse Robotics Market: Segmentation
The warehouse robotics market is broadly classified based on the following segment
- Fixed Robots
- Mobile Robots
- Gantry Robots
- Stationery Articulated Robots
- Food and Beverage
- Oil and Gas