PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1230251
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1230251
Particularly over the last decade, the e-Commerce sector has risen to exponential prominence across the world. Supporting factors such as higher spending power among individuals and greater globalization levels have ensured the progression of this industry, which in turn has had a positive influence on the global warehouse automation market. Moreover, better trade agreements made between parties, both domestically and internationally, have also led to higher demand for automated solutions in warehouses around the world. The warehouse automation market achieved a value of US$12.7 Bn in 2019, and this figure is projected to be US$53.2 Bn by the end of 2029, at an anticipated CAGR of 15.4%. Industry players looking to address various discrepancies in the logistics and warehousing sector will foster healthy competition, making this another complementary factor for the warehouse automation market.
A comprehensive market study by Fairfield Market Research has concluded that North America is expected to continue its regional market dominance in the global warehouse automation industry. Factors responsible for this include a greater number of SMEs that are gradually acting upon the idea of implementing automation solutions in their warehouse and logistics operations. Moreover, higher investments being allocated towards securing these solutions is another element that is projected to lead to further market expansion opportunities over the forecast timeline, 2022-2029. On the other hand, the Asia Pacific region is projected to grow at the fastest CAGR over the forecast period. This can be attributed to various industry players based in manufacturing powerhouses such as China, and India, that have a vast number of skilled workers at their disposal, who are now looking to further implement high-tech solutions as a means of bettering productivity and efficiency in their operations to boost their global reach.
ABB Ltd., Bastian Solution LLC, Daifuku Co Ltd., FANUC Corporation, Fetch Robotics Inc., Jungheinrich AG, KUKA AG, Omron Corporation, SSI SCHAEFER Group, and Yaskawa Electric Corporation, all collectively account for the majority revenue share of the warehouse automation market and are extensively detailed under our comprehensive competitive profiling and strategic analysis.