Last Updated on July 11, 2024 7:17 pm by Laszlo Szabo / NowadAIs | Published on July 11, 2024 by Juhasz “the Mage” Gabor
WESTFORD, Mass., July 11, 2024 /PRNewswire/ — According to SkyQuest, the global Warehouse Robotics Market size was valued at USD 5.39 billion in 2022 and is projected to grow from USD 6.10 billion in 2023 to USD 16.45 billion by 2031, exhibiting a CAGR of 13.2% during the forecast period. (2024–2031).
Robotic technologies designed specifically for use in warehouses are known as warehouse robotics. Labor shortages, a dearth of skilled labor, and high demand for efficient warehousing solutions are projected to be key factors driving warehouse robotics market growth over the coming years. The rapid growth of the e-commerce industry is also creating a high demand for warehouse robotics. The global warehouse robotics market is segmented into type, function, payload capacity, industry, and region.
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Warehouse Robotics Market Overview:
Report Coverage | Details |
Market Revenue in 2023 | $ 6.10 Billion |
Estimated Value by 2031 | $ 16.45 Billion |
Growth Rate | Poised to grow at a CAGR of 13.2% |
Forecast Period | 2024–2031 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, Function, Payload Capacity and Application |
Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
Report Highlights | Development of more capable and functional warehouse robots remains prime focus of market players |
Key Market Opportunities | e-Commerce industry forecasted to boost sales of warehouse robotics |
Key Market Drivers | High use of warehouse robotics for goods transportation application drives market growth |
Segments covered in Warehouse Robotics Market are as follows:
- Type
- Autonomous Mobile Robots (AMRs), Automated Guided Vehicles (AGVs), Articulated Robots, Cylindrical & SCARA Robots, COBOTS, Others
- Function
- Pick & Place, Palletizing & De-palletizing, Transportation, and Packaging
- Payload Capacity
- Less than 20kg, 20-100kg, 100-200kg, Greater than 200kg
- Application
- Automotive, Semiconductor & Electronics, Chemical, E-Commerce & 3PL, Food & Beverage, Healthcare, Metals & Heavy Machinery, others
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Automated Guided Vehicles Guiding Global Warehouse Robotics Demand Outlook
Automated guided vehicles (AGVs) are responsible for streamlining the movement of goods in a warehouse in the most effective way possible thereby reducing the need for labor and extra expenses. This warehouse robotics system employs advanced technologies like artificial intelligence and machine vision to determine the best paths, maximizing efficiency. These systems can manage heavy loads and offer greater flexibility and scalability than other warehouse robotics solutions.
Progress in robotics and the emergence of autonomous technologies are expected to drive the demand for autonomous mobile robots in the future. The increase in adoption of latest technologies and the growing implementation of smart automation in warehouses are augmenting the demand for autonomous mobile robots, thereby promoting market growth in future.
E-Commerce Remains the Top Industry for Warehouse Robotics Sales
Rapid digitization and the growing popularity of online sales channels have led to robust growth in the e-commerce industry. A high number of orders processed through e-commerce, growing demand for faster deliveries, and increasing popularity of same-day deliveries are all helping this sub-segment maintain a high market share. The use of automated warehouses by e-commerce giants such as Alibaba and Amazon are also estimated to create new opportunities for warehouse robotics providers across the forecast period and beyond.
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Key Role of Warehouse Robotics Continues to be Transportation.
Efficiently moving goods within a warehouse is essential for their smooth operation. Consequently, companies specializing in warehouse robotics are focusing on creating robots that enhance transportation efficiency within warehouses. This also helps warehousing companies reduce the need for transportation equipment and skilled labor to operate the same. The growing adoption of robotics and automation in the logistics industry is also helping the transport function sub-segment to hold prominence in the global warehouse robotics market.
The new warehouse robots are much more capable and functional due to advancements in robotics technology. Pick and place robots are projected to witness a robust hike in demand across the forecast period as warehousing companies focus on resource optimization and profit maximization. Pick and place robots are vital in order fulfilment and replenishment as demand for same-day delivery increases worldwide.
Warehouse robotics providers can invest in almost any segment to get good returns but they should target the e-commerce industry if they want to make it in this market. Warehouse robotics companies should invest in the development of products with better pick and place functionality to boost their sales in the future. Integration of advanced technologies will be a key trend for established as well as incoming warehouse robotics providers in the long run.
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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