Chicago, Aug. 01, 2022 (GLOBE NEWSWIRE) -- Warehouse Robotics Market is expected to grow from USD 4.7 Billion in 2021 to USD 9.1 Billion by 2026, at a CAGR of 14.0% during forecasted period, according to a new report by MarketsandMarkets™. Few of the drivers of warehouse robotics market include expanding e-commerce industry, increasing funding from venture capitalists, rising need for enhancing the quality and reliability of warehouse operations, and growing adoption of warehouse robotics by SMEs. However, factors such as high installation cost and lack of a skilled workforce are expected to restrain the market growth. The integration of Industry 4.0 with warehouse robots and technological advancements in AMRs are expected to create high growth opportunities in the warehouse robotics market.
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The warehouse robotics market is dominated by players such as
- ABB Ltd. (Switzerland),
- KUKA AG (Germany),
- KION GROUP AG (Germany),
- Daifuku (Japan),
- FANUC Corporation (Japan),
- Geekplus Technology (China), GreyOrange Pte. Ltd. (US),
- Murata Machinery Ltd. (Japan),
- Omron Corporation (Japan),
- Toyota Industries Corporation (Japan),
- Shopify, Inc. (Canada),
- Hikrobot (China),
- IAM Robotics (US),
- inVia Robotics, Inc. (US),
- JBT (US),
- Knapp AG (Austria),
- Locus Robotics (US),
Autonomous mobile robots (AMRs) segment is expected to grow at the fastest rate during the forecast period
The Autonomous mobile robots segment is expected to witness the fastest CAGR during the forecasted period. The increasing preference for e-commerce shopping platforms and the growing need for enhancing the efficiency of warehouses have led companies to focus on automation of operations. Besides, the increasing affordability and return on investment (ROI) are expected to drive the growth of the market segment. The growing adoption of mobile robots by large e-commerce companies, such as Alibaba Group (China), JD.com (China), Walmart (US), Kroger (US), Woolworth (Australia), Ocado (UK), Meijer (US), H-E-B (US), and Albertsons (US), is expected to further create lucrative opportunities for the providers of mobile robots.
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Picking and Packaging segment to hold the second largest market share in 2021
The picking and packaging segment was estimated to hold the second largest market share in the year 2021. With the growing popularity of online shopping, many e-commerce companies are implementing picking and packaging robots to streamine their operations and improve effeciency. Pick and place robots are used to pick a product from one location and place it at another. The robots used for the picking and placing operation of goods and products speed up the order processing time, reduce associated labor costs, and increase the accuracy and consistency of the operation. Some of the ompanies that offer these robots are Shopify, Inc. (6 River Systems) (Canada), Toyota Industries (Japan), FANUC Corp. (Japan), Berkshire Grey (US), Plus One Robotics (US), and RightHand Robotics (US).
China is expected to grow at highest CAGR in Asia Pacific region during forecast period
The e-commerce industry in China has evolved rapidly over the past 5 years supported by the high internet and smartphone penetration, increasing consumer confidence in online shopping, emergence of various e-commerce platforms, and availability of several payment solutions, such as Alipay and WeChat Pay. The pandemic further accelerated the growth of the industry as consumers buying behaviours have shifted towards online shopping. Some of the major players in the warehouse robotics market in China are Geekplus Technology (China), Hikrobot (China), Shanghai Quicktron Intelligent Technology Co. Ltd. (China), among others. The increasing trend of online retail shopping, rising number of start-ups in China that are developing mobile robots, and active funding by venture capitalists for the development of mobile robots are some of the key factors driving the growth of the warehouse robotics market in China.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the warehouse robotics market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; and partnerships, agreements, and collaborations; and recent developments associated with the warehouse robotics market.
Related Reports:
Industrial Robotics Market by Type (Articulated, Collaborative Robots), Component, Payload, Application (Handling, Processing), Industry (Automotive, Food & Beverages), and Region (2021-2026)
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