Warehouse Robotics Market Growth Accelerated by Increased Automation in Warehousing
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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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