logistics robot market will exhibit a CAGR of 24.1% for the forecast period of 2021-2028. This means that the logistics robot market value would stand tall by USD 31.32 billion by the year 2028.Logistics robots are automated machines that are used in automation of the process of storing and moving goods. They serve as an alternative to the customary belt-based transportation system. They are extensively used in warehouses & storage units to organise and move products.
Key Market Competitors: Global Logistics Robots Market
Few of the major competitors currently working in the global logistics robot market are Dematic, KUKA AG, Amazon Robotics LLC, Vanderlande Industries B.V., Vecna Robotics, Grenzebach Group, Hitachi, Ltd., The Hi-Tech Robotic Systemz, Bastian Solutions, Inc., OMRON Corporation, Fetch Robotics, Inc., GreyOrange pte ltd., Daifuku Co., Ltd., KNAPP AG, IAM Robotics, Clearpath Robotics Inc., KION GROUP AG, Mobile Industrial Robots A/S, ABB, FANUC CORPORATION, Kawasaki Heavy Industries, Ltd., Yaskawa America, Inc., TOSHIBA CORPORATION and Asic Robotics AG among others.
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Logistic robots reduce the high cost of labour, increase efficiency as compared to manual work, thereby leading to increased performance and profitability. Logistic robots assist in supply chains management activities including packing, picking, palletization and depalletization etc.
Segmentation: Global Logistics Robots Market
- By Component (Hardware, Software, Services)
- By Operation Environment (Factory Logistics Robots, Warehouse Logistics Robots, Outdoor Logistics Robots, Other Logistics Robots)
- By Application (Palletizing and Depalletizing, Pick and Place, Loading and Unloading, Packaging and Co-packing, Shipment and Delivery, Others)
- By Product Type (Robotic Arms, Unmanned Ground Vehicles (UGVs), Unmanned Aerial Vehicles (UAVs), Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Competitive Analysis: Global Logistics Robots Market
Global logistics robot market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of logistics robot market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
- Increase in adoption of automation solutions in industries arising due to global export activity which has led to a transformation from human performed activities to machine activities
- Increasing e-commerce and online retail trade has led to the demand for quick delivery drives the logistics robots market
- Shortage of human workforce, the increasing trade and online retail business, and technological advancement
- Logistics robots can be used to carry heavy cartons and heavy payloads, and at the same time assure the safety of workers, thereby decreasing product damage and reducing the loss due to thefts
- Rising demand for logistics robots in defence & military verticals would stimulate the demand in the forecasted period
- The high set up and installation cost could hamper the growth of this market.
- High investments required in R&D would hamper the growth of logistics robots
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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