The global Warehouse Robotics Market is estimated to be valued at US$ 6.1 Bn in 2023 and is expected to exhibit a CAGR of 11.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Warehouse robots are robotic systems designed to automate material handling and logistic operations within warehouse premises. They help increase warehouse operational efficiency and productivity by reducing human errors and optimize manual labor required for material handling tasks.
Market key trends:
Rising adoption of warehouse robotics by e-commerce companies is one of the major trends witnessed in the warehouse robotics market. In the warehouse, sorting and picking of shipments is a labor-intensive task that requires continuous operation. Integrating warehouse robotics can help automate such processes and improve operational efficiency. For instance, Amazon uses autonomous mobile robots in its fulfillment centers for transporting inventory objects within the warehouse facilities. Other companies are also incorporating warehouse robotics to reduce costs and meet growing customer demands of quick delivery.
Segment Analysis
The warehouse robotics market is segmented by robot type, application and geography. By robot type, mobile robots account for largest share in warehouse robotics market owing to its benefits like mobility and flexibility. Mobile robots integrate autonomous navigation systems and mapping capabilities allowing them to efficiently manoeuvre in warehouse environment without collisions. By application, goods-to-person picking dominates the market as it allows fast and precise delivery of goods by moving products directly to order pickers.
Key Takeaways
The Global Warehouse Robotics Market Demand is expected to witness high growth, exhibiting 11.4% CAGR over the forecast period, due to increasing labor costs and safety concerns.
Regional analysis
North America dominates the regional segment with over 30% share attributed to early technology adoption and presence of major players in the region. Asia Pacific is expected to grow at fastest pace owing to expansion of e-commerce sector and rapid industrialization in countries like China and India.
Key players
Key players operating in the warehouse robotics market are Locus Robotics, ABB Limited, Honeywell International Inc., Fanuc Corporation, Geek+ Inc., TGW Logistics Group GMBH, Omron Adept Technologies, Swisslog Holding AG (KUKA AG), Singapore Technologies Engineering Ltd (Aethon Incorporation), Yaskawa Electric Corporation (Yaskawa Motoman), InVia Robotics Inc., Fetch Robotics Inc., Syrius Robotics, Grey Orange Pte Ltd, Hangzhou Hikrobot Technology Co. Ltd and Toshiba Corporation. Locus Robotics and ABB Limited enjoy prominent market share due to their early investor presence and continuous technological advancements.
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