Westford,USA, June 10, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Warehouse Robotics Market will attain a value of USD 16.45 Billion by 2031, with a CAGR of 13.2% over the forecast period (2024-2031). The use of robots in warehouses has contributed towards increased production efficiency, quicker lead times, enhanced inventory management, reduced costs of operation, and improved response to customer needs in several aspects besides being applicable to the final consumer market. According to the United Nations Conference on Trade and Development, there have been six to ten percentage points increase in e-commerce for various products like electronics, prescription drugs, furniture, and cosmetics.
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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, Application |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increasing use of artificial intelligence and machine learning |
| Key Market Opportunities | Transformation of warehouses through the integration of industry 4.0 and warehouse robotics |
| Key Market Drivers | Increase in E-commerce shopping |
Ease of Integration into Existing Warehouse Systemsof Cartesian Robotics Allows them to Dominate the Market
There are several reasons why Cartesian robotics are leading in the global warehouse robotics industry including their precision, scalability as well as ease of integration with today’s warehouse systems. These features enhance operational accuracy and effectiveness hence leading to increasing demand as producers continue investing in Cartesianrobotics therefore cementing their positions as leading players in the sector.
Continuous Advancements and Investments in AMR Technology Boosts Demand for Transport Function
The global warehouse robotics industry is dominated by autonomous mobile robots (AMRs) in the transport function due to their efficiency, flexibility, and capacity to adapt to changing conditions. These features are used by many people as they improve speed and reduce costs. Thus, ongoing developments and expenditures in AMR technology serve to bolster their dominant position in the market.
Applications are Expanding to New Areas Allowing Asia Pacific to Hold a High Market Share
One of the major markets for warehouse robotics is the Asia Pacific region. One of the main factors propelling the market in the region is the SMEs' growing use of warehouse robots. A number of businesses in the region are actively engaged in the creation, manufacturing, and distribution of warehouse robotics. As technology develops, its uses spread to other fields, encouraging efficiency, creativity, and safety in the community.
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Warehouse Robotics Market Insight
Drivers:
- Increase in E-commerce Shopping
- Rise in Funding from Venture Capitalists in Warehouse Robotics
- Safety and Risk Mitigation
Restraints:
- High Initial Investment
- Workforce Displacement Concerns
- Concerns regarding cybersecurity of Connected Robotics in the Industry 4.0
Prominent Players in Warehouse Robotics Market
- Honeywell International Inc. (US)
- ABB (Switzerland)
- TOYOTA INDUSTRIES CORPORATION (Japan)
- KION GROUP AG (Germany)
- Omron Corporation (Japan), JBT (US)
- Geekplus Technology Co., Ltd. (China)
- Daifuku Co., Ltd. (Japan)
- KUKA AG (Germany)
- FANUC CORPORATION (Japan)
- GreyOrange (US)
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Key Questions Answered in Global Warehouse Robotics Market Report
- What is the projected value of the Global Warehouse Robotics Market by 2031, and what is the expected CAGR for the forecast period 2024-2031?
- Which factors have contributed to the increase in demand for warehouse robotics, particularly in relation to e-commerce?
- Why do Cartesian robotics and autonomous mobile robots (AMRs) dominate their respective functions in the warehouse robotics market?
This report provides the following insights:
- Analysis of key drivers (Growing demand for automation & robotics solutions in the warehousing industry, venture capitalists recognizing the market's potential for high returns on investment, improved operational processes and minimizing the risk of workplace accidents & injuries), restraints (High setup costs due to the sophisticated technology involved, training personnel also adds to the initial investment and Integrating robots in warehouses raises job displacement concerns), opportunities (Evolution of traditional warehouses into smart & connected automated warehouses, integration of Industry 4.0 with warehouse robots and robots are easy at receiving instructions & respond to their surroundings), and challenges (Robots can become vulnerable if they are not equipped with up-to-date software and Inadequate security measures can lead to industrial espionage) influencing the growth of warehouse robotics market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the warehouse robotics market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the warehouse robotics market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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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 has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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