PUBLISHER: The Business Research Company | PRODUCT CODE: 1387719
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387719
“Industrial Robots (Warehousing and Storage Robots) Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial robots (warehousing and storage robots) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial robots (warehousing and storage robots)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The industrial robots (warehousing and storage robots) market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Industrial robots for warehousing and storage encompass automated robot systems employed within warehouses and associated services. These robots are tasked with a range of functions aimed at automating warehouse operations. They play a pivotal role in activities such as lifting and organizing heavy products for storage within racks or designated areas.
The primary product categories within the realm of industrial robots consist of mobile robots, articulated robots, cylindrical robots, SCARA robots, parallel robots, and Cartesian robots. Mobile robots, specifically, are driven by software and rely on sensors and other advanced technologies to identify their environment and navigate it. They achieve this through the integration of artificial intelligence (AI) and physical robotic components like wheels, rails, and legs. Industrial robots in this context serve various purposes, including pick-and-place operations, palletizing and de-palletizing, transportation, and packaging. These applications find relevance in diverse industries such as e-commerce, automotive, consumer electronics, food and beverage, healthcare, and other sectors.
The industrial robots in the warehousing and storage market research report are one of a series of new reports from The Business Research Company that provides industrial robots in the warehousing and storage market statistics, including industrial robots in the warehousing and storage industry global market size, regional shares, competitors with industrial robots in the warehousing and storage market share, detailed industrial robots in the warehousing and storage market segments, market trends and opportunities, and any further data you may need to thrive in the industrial robots in the warehousing and storage industry. These industrial robots in the warehousing and storage market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The industrial robots(warehousing and storage robots) market size has grown rapidly in recent years. It will grow from $6.48 billion in 2023 to $7.5 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The expansion observed in the historical period can be ascribed to the growth of e-commerce, labor shortages, the drive for automation and increased productivity, optimization of supply chains, escalating labor costs, and government support for automation and robotics.
The industrial robots(warehousing and storage robots) market size is expected to see rapid growth in the next few years. It will grow to $13.13 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The anticipated growth in the forecast period can be attributed to factors such as the demand for customization and scalability, the pursuit of environmental and sustainability objectives, the imperative to enhance operational efficiency, and the necessity to align with the demands of modern supply chain dynamics. Notable trends in this period encompass the integration of advanced technologies, the adoption of robotic picking and packing solutions, the use of autonomous mobile robots, real-time data and analytics, AI-driven decision-making processes, the deployment of collaborative robots, and advancements in robotic technology.
The industrial robots in the warehouse and storage market have experienced significant growth due to the accelerated movement of goods within warehouses. This surge in the movement of goods can be attributed to the thriving e-commerce industry's commitment to achieving the fastest possible delivery times. Industrial robots play a vital role in expediting processes within the warehouse and storage sector. For instance, in 2022, Geodis entered into an expanded agreement with Locus Robotics, a supplier of autonomous mobile robots (AMRs), to deploy 1,000 AMR robots across warehouses worldwide. This increased pace of goods handling within warehouses has been a driving force behind the growth of industrial robots in the warehouse and storage market.
The expansion of investments in warehouse automation is expected to be a key driver for the growth of industrial robots in the warehousing and storage market. Warehouse automation involves the utilization of advanced technologies and systems to streamline and optimize various warehouse operations. The escalating investments in warehouse automation create a demand for advanced robotic solutions capable of improving efficiency, reducing operational costs, and enhancing overall warehouse productivity. These investments facilitate the adoption of robots to meet the evolving requirements of automated warehousing systems. For instance, in April 2022, Amazon.com, Inc. initiated the Amazon Industrial Innovation Fund (AIIF), a $1 billion venture investment program aimed at promoting and supporting innovation in customer fulfillment, logistics, and the supply chain. Similarly, in February 2021, Walmart Inc. announced its plan to invest $14 billion in automation and omnichannel technologies as part of its 2021 capital investment strategy. As a result, the increasing investments in warehouse automation are propelling the growth of industrial robots in the warehousing and storage market.
The high cost associated with industrial robots presents a challenge to the market's growth. Industrial robots require substantial capital investments due to their use of advanced technology and sensors for efficient operation, as well as the need to withstand heavy workloads. Setting up a warehouse operation with 50-100 robots can cost between $2 million and $4 million, representing a significant financial commitment. This elevated cost serves as a deterrent to the widespread adoption of industrial robots, thereby limiting the market's growth.
A noteworthy trend in the warehouse industry is the increasing automation of the picking process, driven by the growing demand from the e-commerce sector to expedite order fulfillment. Automated robots are employed to gather items and transport them to a central location, where employees can quickly complete customer orders. For example, the British supermarket Ocado has implemented a grid of picking robots in its warehouses to select ordered items and place them into crates. These crates are then transferred to conveyors and transported to shelves, where employees retrieve them to fulfill customer orders, contributing to faster grocery deliveries.
Major companies operating in the industrial robots in the warehousing and storage market are actively pursuing innovations in smart robotic technologies to gain a competitive advantage. Smart warehouse robots represent a technology-driven approach to warehouse automation, utilizing robots to streamline internal processes and optimize warehousing operations. For instance, in September 2021, Honeywell International Inc., a multinational corporation based in the United States, introduced the Smart Flexible Depalletizer. This robotic solution is designed to automate the manual process of unloading pallets in warehouses and distribution centers. It leverages machine learning, advanced vision systems, and gripping technologies to reduce the need for manual labor, mitigate the risk of injuries, and address labor shortages in pallet unloading tasks. The depalletizer employs an articulated robotic arm guided by advanced vision and perception technologies to precisely pick cases from single- or mixed-SKU pallets. It operates consistently over multiple shifts, enhancing throughput while minimizing human intervention. This innovative solution is aimed at improving operational efficiency and safety in distribution centers that handle the daily unloading of multiple pallets.
Major companies operating in the industrial robots(warehousing and storage robots) market include ABB Ltd., Yaskawa Electric Corp, KUKA AG (Keller und Knappich Augsburg), Fanuc Corp., Mitsubishi Electric Corporation, Amazon, Honeywell Intelligrated, Omron Corporation, Fetch Robotics Inc., Fanuc Corp, Bastian Solutions, Yamaha Robotics, Siemens AG., Locus Robotics, Daifuku Co. Ltd., Dematic, KNAPP AG, AGVE Group, BlueBotics SA, Clearpath Robotics, GreyOrange, IAM Robotics, inVia Robotics, Kardex Group, KION Group AG, Kiva Systems, Kollmorgen, Magazino GmbH, MiR (Mobile Industrial Robots), RightHand Robotics, SSI SCHAEFER, Swisslog Holding AG, Teradyne Inc., Vecna Robotics, Vanderlande Industries BV, Zebra Technologies Corp.
Asia-Pacific was the largest region in the industrial robots market in 2023. Western-Europe was the second-largest region in the global industrial robots market. The regions covered in the industrial robots(warehousing and storage robots) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the industrial robots(warehousing and storage robots) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The industrial robots in the warehousing and storage market consist of sales of delta robots, polar robots, and collaborative robots. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.