NEW YORK, June 26, 2018 (GLOBE NEWSWIRE) -- The global warehouse and logistic robots market was valued at USD 3.04 billion in 2017 and is expected to reach USD 22.68 billion by 2024, at a CAGR of 31.3%. The key factors driving the market growth include growing e-commerce retailing businesses across the globe, surging need for high return on investment (RoI) in less time, increasing investments in robotics technology, and rapid adoption of robotics across various end-user industries. Moreover, increasing number of start-ups for warehouse operations creates ample of opportunity, providing boost to the market growth.
A commercial building (warehouse) has always been a root for any export or import services. Bulk of goods is needed to move from one place to another, that requires hard work and become very time consuming. Robots are highly efficient in bringing a high level of productivity to the supply chain. Adoption of robots across various industries has witnessed substantial growth as they provide an ease to human and facilitate them with less manual work. This is due to the prevailing competition in e-commerce and rise in number of stock keeping units.
Adoption of Warehouse and Logistic robots is majorly adopted by the distribution centers
Warehouses are now playing a significant role in the complete supply chain. Warehouses are majorly operated manually, consuming more time to do any task adding cost and other associated operation risks. Emergence of robotics (collaborative) in logistics and warehouses have provided accuracy, safety and efficiency in many application areas, especially working in the custom packaging process as well as in distribution centers. Robotics is gaining traction across the globe and creating opportunities for employers to remain profitable. These robots perform several basic and repetitive tasks including “pick and place”. Implementation of robots enables the company to reduce cost of errors and appropriate utilization of storage can be done along with reduced labor cost.
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Warehouse and Logistic Robots Market - Regional insight
Asia-Pacific is expected to dominate the market and is expected to witness high CAGR during the forecast period. The growth in the region is due to the highest proportion of exports across the world and growing industrialization in big economies such as China and India. Further, fast moving e-commerce industry in these nations has laid a path for growth of warehouse and logistic robots market. Moreover, T-mall in China is a biggest warehouse which is entirely run by robots. North America is evolving as a leading market and is a fastest growing region in the market owing to the increasing demand of warehouse and logistic robots across various end-user industries.
Key findings from the report:
- On the basis of type, mobile robots has dominated the global market in 2017, and expected to continue their dominance over the forecast period. The growth is because of their better flexibility and mobility. Moreover, collaborative robots are expected to register highest CAGR over the forecast period.
- Based on function, picking and palletizing held the major share of the market, and transportation segment is expected to register a highest CAGR, during the forecast period.
- Warehouse and logistics market is expected to witness strong growth in next coming years with many prominent companies showing their trust in robotics technology that could yield a return on investment (ROI)
- E-commerce is a leading end-user segment in terms of market share of the market in 2017. Moreover the automotive industry is expected to grow at the highest CAGR in the coming years.
- Key players in the warehouse and logistic robots market includes ABB; Amazon Robotics LLC; Kion Group AG; Mitsubishi Electric Corporation; Daifuku Co., Ltd.; Krones AG; Hitachi Transport System, Ltd.; KUKA Aktiengesellschaft; Omron Corporation; Magazino GmbH; and Yaskawa Electric Corporation.
The report segments the global warehouse and logistic robots market on the basis of type, function, application, end-use, and region.
By Type
- Mobile Robots
- Cartesian Robots
- Collaborative Robots
- Articulated Robots
- SCARA Robots
- Parallel Robots
By Function
- Picking & Palletizing
- Sorting
- Transportation
- Packaging
- Others
By Application
- Warehouse Management System
- Warehouse Control System
- Warehouse Execution System
By End-Use
- Automotive
- Food & Beverages
- Textiles
- Chemicals
- Manufacturing
- E-commerce
- Others
By Region
- North America
○ US
○ Canada
○ Mexico
- Europe
○ UK
○ France
○ Germany
○ Rest of Europe
- Asia-Pacific (APAC)
○ Japan
○ China
○ India
○ South Korea
○ Rest of APAC
- Rest of the World (RoW)
○ Middle East and Africa (MEA)
○ South America
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