Market Research Report
Global Warehouse Robotics Market - 2019-2026
|Published by||DataM Intelligence||Product code||757855|
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|Global Warehouse Robotics Market - 2019-2026|
|Published: January 1, 2020||Content info:||
The global warehouse robotics market expected to reach $XX billion by 2026, at a CAGR of over 12% during the forecast period. Mainly due to factors such as significant rise in E-commerce industry and need for enhanced quality and reliability in warehouse operations.
Warehouse robots or AGVs are portable robots used on the warehouse floor. They carry loads or tow objects behind them in trailers. They are controlled by computers and integrated with your warehouse management system. The latest generation of warehousing robotics uses low RFID waves, laser guidance, or on-board navigation systems. Therefore, continuous technological advancement and innovation in the market is expected fuel growth in the global market.
The report covers all the major trends and drivers playing a vital role in the growth of the Warehouse Robotics market. The global Warehouse Robotics market has been segmented based on region, type, end-user industry, and function.
The global Warehouse Robotics market growth is primarily driven by rising e-commerce industry and growing adoption of automation in warehouses for efficient and smooth operations. The use of Warehouse robotics helps the manufacturers to achieve enhanced quality and reliability in warehouse operations.
The demand for Warehouse robotics is also accelerating due to the ongoing trend towards automation and increasing technological advancements in the robot industry. Factors such as shortage of skilled workforce and high labor costs also drive the adoption of Warehouse robotics across various industries worldwide. Several organizations have implemented Warehouse robotics solutions to reduce their labor costs and improve efficiency. Although the initial cost of procuring a robot is high, once implemented, it offers high productivity, efficiency, and profits.
Market Segment Analysis
By Type, the global Warehouse Robotics Market is segmented into Mobile Robots, Articulated Robots, Cylindrical Robots, SCARA Robots, Parallel Robots, and Cartesian Robots. In 2018, Mobile robots segment dominated the global market and is expected to grow at a higher CAGR over the forecast period 2019-2026. Mobile robots are widely used by leading e-commerce companies and are also being gradually implemented in warehouses operated by manufacturing companies. The mobile robot adapts to changes in product types and velocities, order prioritization, and order shipment accuracy. Another key advantage of the mobile robot is a faster return on investment (ROI), as mobile robots are easier to set up and cheaper to operate.
By End-user industry, the global Warehouse Robotics Market is segmented into automotive, e-commerce, consumer electronics, food and beverages, and others. In 2018, E-commerce was the fastest growing application market for robots, growing at a CAGR of more than 11.0% from 2019 to 2026. In addition, Packaging industry is a key area where robots are used for picking, packing, and palletizing products. For instance, Amazon.com uses small, Roomba-shaped robots simply called "drives" mostly to deliver large stacks of products to human workers, by following set paths around the warehouse.
By geography, the global Warehouse Robotics Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, North America and Asia-Pacific together accounted for more than 3/5th market share in the global Warehouse Robotics market. The broad market share of the Asia-Pacific region can be attributed to the high growth in the consumer electronics industry in countries like China, Japan, Republic of Korea, and India. China has been the biggest robot market in the world with continued dynamic growth. China's rising robotics industry attributes to its scale, growth momentum, and capital. Also, the rising initiatives of the Chinese government are contributing to the growth of the market. The Chinese government has recognized the Robotics Industry as a strategically important sector in its Made in China in 2025 (MIC 2025) initiative.
In North America, growing Warehouse automation; emerging applications, such as augmented and virtual reality and IoT; and need of new technologies and innovations to produce higher quality products at faster speeds with lower costs will further drive the market during the forecast period.
Also, the growing trend of automation coupled with increasing demand for Warehouse Robotics from emerging economies such as Brazil, India, Indonesia, and Vietnam; will further fuel growth in the global Warehouse Robotics market.
Global Warehouse Robotics Market is fragmented with the presence of global and regional players in the market. Creating consumer awareness by aggressive marketing strategies and greater visibility of products across sectors are other steps taken by market participants to generate demand.
Intense rivalry among top players in the market has started fierce competition at various levels such as driving aggressive promotional strategies, new and innovative product launches, and increased R&D expenditure.
Some major players in the market are Fetch Robotics, Inc., Locus Robotics, Omron Corporation, Honeywell International Inc., and Siemens AG. Other prominent players in the market include ABB Ltd., Fanuc Corp., Kuka AG, Yaskawa Electric Corp., and Yamaha Robotics.
4 Global Warehouse Robotics Market - Market Dynamics
5 Global Warehouse Robotics Market - Industry Analysis
6 Global Warehouse Robotics Market - By Type
7 Global Warehouse Robotics Market - By End-User Industry
8 Global Warehouse Robotics Market - By Function
9 Global Warehouse Robotics Market - By Region
10 Global Warehouse Robotics Market - Competitive Landscape
11 Company Profiles
12 Global Warehouse Robotics Market - Premium Insights
13 Global Warehouse Robotics Market - DataM