July 21, 2024
Warehouse Robotics Market
Ict

Emerging Automation In Warehouse Operations Projected to boost the growth of Warehouse Robotics Market

The global Warehouse Robotics Market is estimated to be valued at US$ 6.1 Bn in 2023 and is expected to exhibit a CAGR of 11.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Warehouse robotics involves the use of automated systems and robots to increase productivity and efficiency in warehouse operations. Robots perform various tasks such as packaging, pick and place, transportation, and sorting. This significantly reduces reliance on human labor and improves accuracy. The growing demand for automation from e-commerce and logistics sectors is boosting the adoption of warehouse robots. Their ability to work for longer hours compared to humans and perform repetitive tasks without breaks propels their popularity.

Market key trends:

One of the key trends in the warehouse robotics market is the integration of artificial intelligence. AI capabilities allow robots to analyze inventory levels, order fulfilment patterns and dynamically optimize warehouse workflows. This improves productivity and reduces operational costs. Furthermore, collaborative robots or cobots that can safely work alongside humans without safety cages are gaining traction. Cobots collaborate and assist human workers, enhancing productivity. Their affordable cost compared to conventional robots is supporting their adoption in SME warehouses as well. The ability of robots to adapt to changing warehouse layouts and product assortments also makes them suitable for dynamic operations.

Porter’s Analysis

Threat of new entrants: New entrants face high initial costs required to set up warehouse automation infrastructure and install robotics equipment. Bargaining power of buyers: Individual buyers have low bargaining power due to availability of alternatives however large buyers can negotiate on pricing. Bargaining power of suppliers: Suppliers of robotics and automation equipment have moderate bargaining power due to availability of substitutes. Threat of new substitutes: Threat of new substitutes is low as robotics provide better productivity and efficiency gains compared to manual labor. Competitive rivalry: Intense competitive rivalry exists among key robotics manufacturers to gain market share.

Key Takeaways

The Global Warehouse Robotics Market Demand is expected to witness high growth, exhibiting a CAGR of 11.4% over the forecast period, due to increasing labor costs and automation needs in warehouses.

The Asia Pacific region is expected to witness fastest growth in warehouse robotics market during the forecast period due to growing e-commerce industry and increasing labor costs in the region. China dominates the warehouse robotics market in the Asia Pacific region.

Key players operating in the warehouse robotics market include Locus Robotics, ABB Limited, Honeywell International Inc., Fanuc Corporation, Geek+ Inc., TGW Logistics Group GMBH, Omron Adept Technologies, Swisslog Holding AG (KUKA AG), Singapore Technologies Engineering Ltd (Aethon Incorporation), Yaskawa Electric Corporation (Yaskawa Motoman), InVia Robotics Inc., Fetch Robotics Inc., Syrius Robotics, Grey Orange Pte Ltd, Hangzhou Hikrobot Technology Co. Ltd and Toshiba Corporation. These players are focusing on new product launches and partnerships to gain market share in the high growth warehouse robotics market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it