The market has a promising growth potential due to several factors, including expanding e-commerce industry, increase in funding from venture capitalists, growing need for enhancing quality and reliability of warehouse operations, integration of Industry 4.
New York, Sept. 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Warehouse Robotics Market With COVID-19 Impact Analysis by Type Function, Payload, Industry And Region - Global Forecast to 2026" - https://www.reportlinker.com/p04734935/?utm_source=GNW
0 with warehouse robots, and the rise of autonomous mobile robots (AMR). The ability of the warehouse robotic systems to minimize errors during the order fulfillment process makes them the preferred choice for warehouse operations. Warehouse operations such as storage and retrieval, packaging, and palletizing and de-palletizing are needed to be performed precisely every time with high repeatability. These operations are prone to possible errors if performed by workers. The use of robotic systems in performing these monotonous tasks offers numerous advantages, such as improved reliability and quality, high-speed movement of products, decreased production cost, and reduced errors.
The major factor restraining the growth of the warehouse robotics market includes high set up cost and lack of skilled workforce to operate robots.Warehouse robotics is a multidisciplinary field, where acquiring and retaining qualified workers is a major issue.
There is a scarcity of people specializing in fields such as electrical, embedded, and software.Moreover, there is a shortage of highly qualified employees with specific educational backgrounds and skills, especially the ones needed to develop high-value-added robots integrated with advanced technologies.
The unavailability of a skilled workforce inhibits the growth of the warehouse robotics market in industries such as e-commerce, food & beverage, pharmaceutical, and chemical.
The market declined in 2020, mainly due to the impact of COVID-19.The supply chains were disrupted in 2020 due to the lockdown imposed by various governments and labor shortages in these industries due to travel restrictions, which would affect the warehouse robotics market.
Though the market has been impacted in 2020, it is expected to fully recover by 2022.
E-commerce: The largest segment of the warehouse robotics market, by industry
E-commerce trends are influencing the warehousing, manufacturing, and logistics industries, indicating that it is becoming increasingly important for these industries to optimize and develop automated solutions.The growing demand for quick order supply to customers in an accurate and undamaged form, increasing competition in the e-commerce industry, and rapid rise in online shopping are the key factors expected to drive the growth of the warehouse robotics market for the e-commerce industry.
Warehouse automation helps to keep costs and operational complexity in check.The solutions are built for scale and can deliver higher output and more accurate order fulfilment than a manual setup at lower operating costs.
Besides, they can increase customer satisfaction and improve margins by reducing the delivery time and cutting down the costs of wrong orders.
Transportation: The fastest-growing segment of the Warehouse Robotics market, by function
The transportation function is the fastest-growing function for the warehouse robotics market.In a demanding warehouse and distribution environment, the internal transportation of goods and products needs to be done efficiently and cost-effectively.
Thus, warehouse operators are widely using robots for performing automated transportation of goods between different locations within a warehouse.Automated transportation of material is an efficient, space-saving, and cost-effective alternative to manual transportation.
Warehouse robot helps minimize the risk of accidents by reducing labor intervention, ensuring timely delivery of goods, and reducing inventory cost thereby increasing the productivity of warehouse operations.
Asia Pacific has the largest market share in the warehouse robotics market
The Asia Pacific region is expected to dominate the warehouse robotics market and is projected to have the largest market share during the forecast period.Also, the region has countries like China, Japan, and South Korea where several major players in warehouse robotics market dwell.
APAC is expected to be the fastest-growing regional market for warehouse robotics during the forecast period.The increasing trend of online retail shopping, rising number of start-ups in China that are developing mobile robots, high attrition rate of warehouse labors, and active funding by venture capitalists for the development of mobile robots are some of the key factors driving the growth of the APAC warehouse robotics market.
The expanding e-commerce industry in APAC, mainly in China, is also supporting regional market growth.The e-commerce industry in China has evolved rapidly over the last 5 years supported by the high internet and smartphone penetration, increasing consumer confidence in online shopping, emergence of various e-commerce platforms, and availability of several payment solutions, such as Alipay and WeChat Pay.
The COVID-19 pandemic has further accelerated the growth of the industry as consumers are preferring online channels for shopping. According to the National Bureau of Statistics of China, while the total retail sales of consumer goods in the country declined by 3.9% in 2020, online retail sales of physical goods increased by 14.8%.
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies. The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%
• By Designation: C-level Executives – 30%, Directors – 40%, and Others – 30%
• By Region: North America – 33%, Europe – 32%, APAC – 30%, and RoW – 5%
The report profiles key players in the global warehouse robotics market with their respective market share analysis. Prominent players profiled in this report are ABB Ltd. (Switzerland), KUKA AG (Germany), KION GROUP AG (Germany), Daifuku (Japan), FANUC Corporation (Japan), Geekplus Technology (China), GreyOrange Pte. Ltd. (US), Murata Machinery Ltd. (Japan), Omron Corporation (Japan), Toyota Industries Corporation (Japan), Shopify, Inc. (Canada), Hikrobot (China), IAM Robotics (US), inVia Robotics, Inc. (US), JBT (US), Knapp AG (Austria), Locus Robotics (US), Magazino GmbH (Germany), Scallog (France), Shanghai Quicktron Intelligent Technology Co. Ltd. (China), SSI Schaefer AG (Germany), Teradyne, Inc. (US), Vecna Robotics (US), Yaskawa Electric Corporation (Japan), and Zebra Technologies Corp. (US).
The report segments the warehouse robotics market and forecasts its size, by value, based on region (North America, Europe, APAC, and ROW), by Type (Autonomous Mobile Robot (AMR), Automated Guided Vehicle (AGV), Articulated Robots, Cylindrical And SCARA Robots, Others), by Function (Picking And Placing, Palletizing And De-Palletizing, Transportation, Sorting And Packaging), by Payload Capacity (Less Than 20kg, 20–100 Kg, 100–200 Kg, More Than 200 Kg), by Industry (E-Commerce, Automotive, Electrical & Electronics, Metal & Machinery, Chemical, Rubber, And Plastics, Food & Beverage, Pharmaceutical, Others)
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the warehouse robotics market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the warehouse robotics market and provides them information on key market drivers, restraints, challenges, and opportunities.
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