Warehouse Robotics Market Growth Accelerated by Increased Automation in Warehousing

 

Warehouse Robotics Market

Warehouse robotics includes autonomous mobile robots (AMRs) and autonomous guided vehicles (AGVs) that help in streamlining warehouse operations through automation. AMRs and AGVs are equipped with advanced technologies such as artificial intelligence, 3D vision systems, advanced sensors, and fleet management software. They assist in various warehouse operations such as packaging, palletizing, transportation, and sorting. The adoption of warehouse robotics is gaining traction as it helps improve productivity, reduce costs, mitigate risks, and enhance efficiency. Warehouse robots can transport heavy loads of goods, work in dangerous conditions, and operate 24/7 without breaks.

 

The global warehouse robotics Market is estimated to be valued at US$ 13.18 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Dynamics:

Increasing automation in warehouses is a key driver fueling the growth of the warehouse robotics market. Rising labor costs, labor shortage issues, and growing need for operational efficiency have prompted warehouse operators to adopt automation solutions such as robots. According to the report by the Association for Advancing Automation, approximately 93,000 robots were shipped to logistics and wholesale companies in 2021 alone, reflecting increasing demand for automation technologies in warehouses globally.

 

The trend of increasing automation is expected to continue as warehouse operators seek to enhance productivity, reduce costs and errors, mitigate safety risks, and streamline operations. COVID-19 also highlighted the importance of automation as contactless operations gained more importance. Going forward, technological advancements, proliferation of industry 4.0, emergence of startups, and growing focus on robot-as-a-service business models are expected to further accelerate the adoption of warehouse robotics.

 

SWOT Analysis

Strength:

- Warehouse robots help reduce labor costs as they can work 24/7 without breaks or overtime pay. Robots do not get fatigued unlike humans and can lift heavier items accurately.

- Automation helps streamline warehouse operations and improve efficiency. Robots carry out repetitive tasks quickly without errors which improves overall productivity and pick rates.

- Use of robots increases accuracy of order fulfillment as they precisely locate and transport items within warehouses as per instructions without chances of human error.

Weakness:

- High initial investment costs are involved in procuring, installing and programming warehouse robots. This large upfront expenditure can be difficult for some companies.

- Robots require ongoing maintenance and repairs. Any glitches or downtime will impact workflow until issues are resolved.

- Robots cannot carry out all tasks within a warehouse. Some processes may still require human judgment, dexterity or decision making.

Opportunity:

- Growing e-commerce sector is driving demand for automation to handle increased volumes and fulfill orders seamlessly within tight timelines.

- Adoption of new technologies like AI, machine learning, vision systems can help robots perform more complex functions effectively expanding their roles.

- Advancements in robot mobility, artificial intelligence and cloud connectivity are integrating robots better with existing warehouse infrastructure and management systems.

Threats:

- Frequent technology upgrades expected from robot manufacturers to maintain competitiveness may lead to additional maintenance or replacement costs.

- Disruptions from new warehouse concepts and business models like micro-fulfillment centers that require different kinds of technologies.

- Resistance from employee unions over potential job losses due to increased robotization.

 

Key Takeaways

The Global Warehouse Robotics Market Size is expected to witness high growth over the forecast period supported by rising e-commerce activities. Rapid automation of warehouses enables efficient order processing and inventory management essential for e-commerce businesses.

 

Regional analysis: Asia Pacific dominates the global warehouse robotics market currently due to vibrant manufacturing industry in China, Japan and other Asian countries. Countries like China and Japan are deploying innovative robotics solutions extensively in factories and warehouses to strengthen competitiveness. The North American region is another major regional market for warehouse robotics driven by rapidly growing e-commerce sector in the US and Canada.

 

Key players: Key players operating in the warehouse robotics market are Amazon Robotics, ABB, Daifuku, Knapp, KION GROUP, Honeywell, John Bean Technologies, Kuka, Omron Adept, Teradyne and more. Amazon Robotics has pioneered the use of robots for e-commerce fulfillment centers and its solutions have become benchmarks for warehouse automation. ABB leads in mobility robots while Kuka, Omron Adept and Teradyne are known for specialized robotic arms.

 


Get More Insights Here

https://www.newsstatix.com/warehouse-robotics-market-size-share-growth-outlook-2023/

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