DUBLIN, October 18, 2021--(BUSINESS WIRE)--The "Industrial Robots (Warehousing and Storage Robots) Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
The market is expected to reach $6.15 billion in 2025, rising at a CAGR of 14%
Where is the largest and fastest growing market for the 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? This global market report 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. It places the market within the context of the wider industrial robots (warehousing and storage robots) market, and compares it with other markets.
The global industrial robots (warehousing and storage robots) market is expected to grow from $2.98 billion in 2020 to $3.7 billion in 2021 at a compound annual growth rate (CAGR) of 24.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
Accelerated movement of goods inside the warehouse drove the industrial robots in the warehouse and storage market. The increase in movement of goods is due to the boom in the e-Commerce industry and their commitment of shortest-time delivery. Industrial robots are used to speed up the process in warehouses and storage industry. For instance, Shopify started using warehouse robots in 2019 to reduce the delay in the movement of goods in the warehouse, increasing the speed of the delivery. Accelerated movement of goods inside the warehouse drove the industrial robots in the warehouse and storage market.
The picking process in the warehouse is increasingly being automated with increased demand in e-Commerce industry, to reduce the pickup time of items. The automated robot gathers items and brings it to a central location, where an employee can fulfill orders fast. For instance, Ocado, a British supermarket started using a grid of picking robots in the warehouse that picks the ordered items and delivers into crates, which are moved onto conveyors and is carried to shelves where an employee picks the crate and delivers the order to the customer helping in delivering the groceries fast.
The high cost of the industrial robots limits the growth of the market. Industrial robots are capital intensive due to the use of the latest technology and sensors to operate efficiently and should withstand the weights. The cost of the setup for a warehouse operation of 50-100 robots costs between $2 million to 4 million which is a high investment. This high cost of robots prevents the easy adoption of industrial robots, limiting the growth of the market.
Major players in the industrial robots market are ABB, Amazon, Yaskawa Electric Corp, Honeywell Intelligrated, Omron Corporation, Fetch Robotics, Inc., Fanuc Corp, Bastian Solutions and Yamaha Robotics.
In April 2019, Amazon has acquired Canvas Technology based in Boulder, USA for an undisclosed amount. The deal adds another important piece to amazon's robotics group portfolio of fulfillment of center machines. The canvas autonomous cart utilizes 3D imaging and software solutions that can be applied to other hardware. Canvas Technology is an autonomous warehouse robotic start up.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The industrial robots (warehousing and storage robots) market section of the report gives context. It compares the industrial robots (warehousing and storage robots) market with other segments of the industrial robots (warehousing and storage robots) market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, industrial robots (warehousing and storage robots) indicators comparison.
Yaskawa Electric Corp.
Fetch Robotics, Inc.
Daifuku Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/nccdwx
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Laura Wood, Senior Press Manager
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