CHICAGO, July 18, 2023 /PRNewswire/ -- The warehouse robotics market is expected to reach USD 10.5 billion by 2028 from USD 6.1 billion in 2023, at a CAGR of 11.4% during the 2023-2028 period according to a new report by MarketsandMarkets. The major factor driving the market growth of the warehouse robotics is growing adoption of warehouse robotics by small- and medium-sized enterprises (SMEs) and rapid developments in robotics and artificial intelligence.
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120 - Tables
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200 - Pages
Warehouse Robotics Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | $6.1 billion |
Estimated Value by 2028 | $10.5 billion |
Growth Rate | Poised to grow at a CAGR of 11.4% |
Market Size Available for | 2019-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Payload Kg, Function, Industry and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Concerns regarding cybersecurity of Connected Robotics in the Industry 4.0 |
Key Market Opportunities | Transformation of warehouses through the integration of industry 4.0 and warehouse robotics |
Key Market Drivers | Rise in funding from venture capitalists in warehouse robotics |
AMRs by type to witness the highest CAGR of the warehouse robotics market during the forecast period.
Equipped with advanced sensors and software, AMRs can safely and efficiently transport goods, fulfill orders, and manage inventory. Their flexibility and scalability make them an appealing choice for warehouses seeking to optimize operational efficiency and adapt to evolving market demands. Autonomous mobile robots make processes and workflows more efficient and productive. AMRs do not require route planning as they will move efficiently and safely through a given space on their own. Mobile Robots use a complex array of sensors, artificial intelligence, machine learning, and computing for path planning to interpret and move around their environment without colliding with obstacles and selecting the most efficient route.
Transportation by function is anticipated to capture the largest market share in the warehouse robotics market.
By automating transportation tasks, these robots streamline operations, enhance productivity, and minimize human intervention, leading to improved efficiency in warehouse management. Manufacturing companies, third-party logistics providers, and independent warehouse operators are increasingly relying on efficient inbound and outbound transportation to remain competitive in the market. In a demanding warehouse and distribution environment, the internal transportation of goods and products needs to be done efficiently and cost-effectively.
20-100kg segment by payload capacity to dominated warehouse robotics industry during forecast period.
Robots with payload capacity ranging from 20 kg to 100 kg are used in warehouse operations because of their compact size and high utility. Articulated, cartesian, collaborative, SCARA, and mobile robots are examples of some of the robots that fall into this category. Advancements in navigation systems and collaborative features have further driven their adoption by enhancing safety and facilitating seamless human-robot interaction in warehouse environments.
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Asia Pacific is expected to register the highest CAGR during the forecast period in the warehouse robotics market.
The economic growth of Asia Pacific has increased the use of warehouse robotics in the manufacturing and retail industries. The increase in the number of production facilities and rising domestic demand for products are the major factors driving the growth of the warehouse robotics market in the region and have boosted market growth.
The report profiles key players in warehouse robotics companies such as Daifuku Co., Ltd. (Japan), KION GROUP AG (Germany), KUKA AG (Germany), ABB (Switzerland), FANUC CORPORATION (Japan), Geekplus Technology Co., Ltd. (China), GreyOrange (US), TOYOTA INDUSTRIES CORPORATION (Japan), Omron Corporation (Japan), JBT (US) and Honeywell International Inc. (US).
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