The factors driving the growth of the warehouse robotics market include the growing e-commerce industry, the need for efficient and reliable warehouse operations, active funding from venture capitalists, rising labor cost, and increasing adoption of warehouse robotics by small- and medium-sized enterprises (SMEs).
That’s according to a new market research report published by MarketsandMarkets.
The report predicts an impressive 11.8% Compound Annual Growth rate between this year and 2022 when the warehouse robotics market is expected to be valued atUSD 4.44 Billion.
Mobile robots are expected to lead the overall warehouse robotics market between now and 2022. MarketsandMarkets notes, “The fast-moving nature of items and same-day or next-day delivery schedules has [caused] e-commerce companies to implement mobile robots in their warehouses. Mobile robots have the capability of moving products around the warehouse faster than human workers and retrieving them without an error. This factor makes mobile robots a preferred choice for the e-commerce companies.”
By market segment, warehouse robotics for the food and beverages industry is expected to grow at a significant rate. “The growing trend of processed food and packaged eatables, requirement of clean room storage, and need for automated and hygienic handling of food items are expected to drive the growth of the warehouse robotics in the food and beverages industry.”
By region, the report expects North Americawill serve as one of the key growth regions for thewarehouse robotics market.“The favorable economic conditions in the U.S., highly developed warehousing infrastructure, and a growing e-commerce industry are the key factors for the growth of the warehouse robotics market inNorth America,” says MarketsandMarkets.
The report attributes North American market growth “to the presence of established and startup robotic companies in the region such as Amazon Robotics, a subsidiary of Amazon.com, Inc. (U.S.), ATS Automation Tooling System, Inc., (Canada), Fetch Robotics, Inc. (U.S.), Honeywell International, Inc. (U.S.), IAM Robotics (U.S.), InVia Robotics (U.S.), and Wynright Corp. (U.S.).
Globally, the report identifies major players operating in the warehouse robotics market, including ABB Ltd. (Switzerland), Fanuc Corp. (Japan),Kuka AG(Germany), Yaskawa Electric Corp. (Japan), Amazon.com, Inc. (U.S.), ATS Automation Tooling Systems Inc. (Canada), Honeywell International Inc. (U.S.), Omron Corp. (Japan), Fetch Robotics, Inc. (U.S.), IAM Robotics (U.S.), Magazino GmbH (Germany),SSI Schaefer AG(Germany),and Wynright Corp. (U.S.).
MarketsandMarkets says early buyers of the report will receive 10% customizationon this report.