Anticipated surge in warehouse robotics market driven by evolving demand dynamics from retailers and e-commerce, fueled by automation and tech integration for efficient storage and material handling.
The global warehouse robotics market is experiencing robust growth, with a resilient Compound Annual Growth Rate (CAGR) of 13.7% projected from 2023 to 2033. This trajectory positions the market to achieve a significant valuation of approximately US$ 4,924.3 million by 2033, marking a substantial increase from its 2023 valuation of around US$ 1,365.8 million.
The driving force behind this expansion is the escalating demand for consumables and perishable goods, particularly notable in sectors such as electronics, automotive, and e-commerce. These industries have seen remarkable growth, leading to an increased requirement for efficient and timely warehousing solutions. In navigating this evolving landscape, the warehouse robotics market emerges as a crucial player, ushering in an era of advanced goods storage, handling, and delivery.
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Shifting demographics and widespread internet accessibility have led to an increased demand for goods through online sales channels. This surge in demand has fueled the construction of new e-commerce warehouses on a global scale, presenting numerous opportunities for automation solutions. The industrial robotics sector accounted for approximately 3% to 5% of the global market in 2022.
The industrial robotics market witnessed significant growth in 2021, and this upward trend is expected to persist throughout the projected period. According to the International Federation of Robotics, the annual installation of industrial robots surged from 394,000 units in 2020 to 517,000 units in 2021, indicating a remarkable growth of around 30%.
Within the Asia Pacific region, China, Japan, South Korea, and the Association of Southeast Asian States remain the leading markets for industrial robot sales. With the increasing adoption of robots across various industries, there is a promising potential for robots to play a profitable role in warehouse tasks.
Competitive Landscape: Warehouse Robotics Market
To enhance efficiency, numerous established companies and emerging robot startups are focusing on innovative and cutting-edge warehouse solutions. Well-established players are pursuing strategies involving acquisitions.
These companies are also working on developing new and integrated robotic solutions to meet the evolving needs of end-users. Launching new warehouse projects, especially in developing nations, is a priority for many businesses, driven by the rising demand for third-party logistics.
For example,
In February 2022, Hai Robotics announced its collaboration with the world's largest sportswear company, Anta, for a new autonomous warehouse project. Hai Robotics, with its involvement in projects like the Anta collaboration, is gaining recognition as a leading supplier in the industry, particularly in the apparel and footwear market. This success is attributed to its active participation in multiple projects.
Key Players in the industry:
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Warehouse Robotics Market Outlook by Category:
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 20, 2024
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