Warehouse Robots Market is anticipated to reach USD 22.1 billion by the end of 2024
Global Warehouse Robotics Market Outlook
The global Warehouse Robots Market is anticipated to reach USD 22.1 billion by the end of 2024, expanding at a compound annual growth rate of 7.4% over the forecast period i.e. 2016-2024.
Market Overview
Warehouse robotics technology boosted up, has not made a remarkable impact on logistics industry. But, in the past few years, technical advancement in robotics have seen many changes and advanced robots are prepared to enter warehouses.
Warehouse workers will benefit from robotics technology, while customers will get faster service and higher quality. Big market giants such as Google and Amazon represents one third of funding for the new era of robotics technology.
Seeing the huge potential of robots, Amazon acquired Kiva, a startup robotics company worth USD 775.0 million in 2013 to explore the business of warehouse logistics. Amazon accounts for more than 40,000 robots operational in 20 fulfillment centers.
Fetch Robotics, a new startup company that is focusing distribution market, has developed a robotic arm that can pick items from the standard warehouse shelf and can arrange them into an 18 order tote.
Fetch Robotics, raised venture capital of worth USD 23.0 million, most of it from Softbank, a Tokyo based phone and internet service provider. Company also invested USD 100.0 million in a robotics company named Aldebaran that has created the robot pepper.
In recent 12 months, Google acquired about eight robotics startup companies including a startup focusing on automated trailer unloading using advanced perception method. It is estimated that Google has spent around USD 500.0 million to enter into high-tech robotics game.
Report: https://www.planetmarketreports.com/reports/global-warehouse-robotics-market-2445
Market Segmentation
By Product Type
By Application Type
By End-Users
By Geography
North America US, Canada {Market Share % , Market Size USD Billion , Production Sales Units }
• Europe UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe {Market Share % , Market Size USD Billion ,Production Sales Units }
• Middle East and Africa GCC Countries, North Africa, South Africa and Rest of Middle East & Africa {Market Share % , Market Size USD Billion , Production Sales Units }
• Latin America Brazil, Mexico and Rest of Latin America {Market Share % , Market Size USD Billion ,Production Sales Units }
• Asia Pacific China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific {Market Share % , Market Size USD Billion , Production Sales Units }
• Rest of the World {Market Share % , Market Size USD billion , Production Sales Units }
Market Drivers and Challenges
According to Planet Market Reports, more than 80% of warehouses across the globe are manually operated with no support of automation. These warehouse facilities dealing with demand for mobile material handling, increased productivity and continuously improving IT.
Around 15% of warehouses are mechanized. In addition, these mechanized warehouses uses some sort of material handling automation such as conveyors, sorters and other mechanized equipments to increase their efficiency and to improve productivity of the existing workforce.
Recent developments in robotics for warehouses might turn out to be the major game changer for logistics industry.
Advanced warehouse robots are now able to perceive, manipulate and are able to place vast variety of objects and goods in less structured environments. Advanced robots and their ability to increase productivity and profitability, are anticipated to propel the growth of global warehouse robotics market.
Today one of the major challenges faced by the warehouses is low availability of labors. Finding skilled employees and workforce to move goods efficiently within the warehouses is not easy for companies around the world.
Rising need for logistic workers is driven by the growing e-commerce business across the globe.
Additionally, shrinking population in western countries led to the decline size of available workforce. Online retail in United States and Europe is witnessing 10% year-on-year growth in e-commerce business.
Asia is the fastest growing market for online retail, it is estimated that by 2020 online market of China will be equal to France, Germany, Japan, U.K and the U.S combined.
Report: https://www.planetmarketreports.com/report-sample/global-warehouse-robotics-market-2445
Market Size and Forecast 2016-2024
warehouse robots market is anticipated to reach USD 22.1 billion by the end of 2024, expanding at a compound annual growth rate of 7.4% over the forecast period i.e. 2016-2024. The global warehouse market accounted for over USD 12.0 billion in 2016 owing to growing e-commerce industry and need for more efficient and reliable warehouse operations.
Asia-Pacific region is expected to witness fastest growth and dominate the global warehouse robotics market. By the end of 2024, Asia-pacific region is projected to reach more than more than USD 5.5 billion backed up by the favorable government legislatures and initiative such as Made in China 2025 and Make in India.
With these favorable policies many automotive companies are establishing new manufacturing units equipped with modern technologies to meet global standards. North America warehouse robotics market is expected to surpass USD 3.0 billion by the end of 2024.
Western Europe and Latin America are also expected grow at a moderate pace over the forecast period.
Key Market Players
Market Synopsis
Market Segmentation
The global warehouse robotics market is segmented as follows:
Market Dynamics: Growth Drivers, Restraints and Opportunities
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
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