Market Research Report
Logistics Robot Market - Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)
|Logistics Robot Market - Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)|
Published: February 9, 2022
Fairfield Market Research
Content info: 132 Pages
Delivery time: 1-2 business days
The logistics robot market has witnessed a surge in demand across all regions as they have become indispensable to wide ranging business operations. Logistics robots automate the processes of storing and moving goods across the supply chain, offering greater levels of uptime, more productive hours, and less scope of manual error, thus providing greater productivity to end users. These factors rapidly increased the demand for logistic robots by 50% over 2020 to 2021 by revenue. In the coming years, preference for automation and autonomy in business processes is projected to sustain the demand for logistic robots across the global market.
Fairfield Market Research states that the global logistics robot market was worth US$807.2 Mn in 2017 and is expected to be worth US$12,739.1 Mn by 2025. Between the forecast years of 2021 and 2025, the market for logistics robots is expected to register a CAGR of 23.7%.
Global logistics robot market to create an incremental opportunity of more than US$9 Mn between 2021 and 2025.
Automated guided vehicles segment held a lion's share of 42% in 2020 and the segment will continue to lead, predicts report.
E-commerce sector is expected to create an incremental opportunity of US$2,751.5 Mn during the forecast period. The sector will remain the dominant driving factor for the global logistics robot market.
Asia Pacific logistics robot market expected to grow at 26.2% in the coming five years as expansion of e-commerce skyrockets with millennials and generation Z spending habits.
Global logistics robot market to be fragmented with small-medium size and start-up companies dictating competitive landscape. The big companies are entering in the market through acquisitions of smaller players.
Today's consumers thrive on ease, convenience, and fast delivery of goods and services. As a result, virtually all retailers are forced to expedite the transition to digitalization. In terms of order fulfilment, retailers are turning to automation and robotic solutions to keep up with delivery timelines to get a real-time view of their operations. This has swelled the demand for logistics robots across the global logistics robot market. Over the forecast period, the e-commerce industry is expected to grow at the fastest rate.
North America observed the highest market share across the global logistics robot market in 2020. The reasons for this include rising labor costs, robust adoption of robotic technologies by organizations in this region, growing emphasis on automating logistic processes, and the potential of logistic robots to reduce operational costs. Over the study period, the APAC logistics robot market is projected to expand at the fastest rate, however, high set-up costs can restrict market expansion.
Prominent vendors across the global logistics robot market include C.H. Robinson Worldwide, Expeditors International of Washington, DB Schenker Logistics, J.B. Hunt Transport Services, FedEx, The Boeing Company, Ryder Supply Chain Solutions, Americold Logistics, United Parcel Service, and DHL Supply Chain among others.