Warehouse Automation Market size was valued at USD 19.88 billion in 2022, and is projected to reach USD 54.60 billion by 2030 at a CAGR of 10.9% during the forecast period.
The warehouse industry is increasingly adopting robotics technology to improve efficiency and productivity. Robots can automate repetitive and physically demanding tasks, and reduce labor costs, along with improving accuracy of workers.
New York, March 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Warehouse Automation Market by Component, Type, Function, and Industry Vertical – Global Opportunity Analysis and Industry Forecast 2023–2030" - https://www.reportlinker.com/p06428924/?utm_source=GNW
They can also handle various warehouse activities, improve safety, and work around the clock, which propels growth of the warehouse automation market.
Rise in demand for automated warehousing solutions, owing to growth of e-commerce and online retail also propels the market growth. Solutions, such as warehouse management systems and storage & retrieval systems, enhance productivity & accuracy, enable real-time inventory management, as well as improve supply chain operations. Thereby, contributing toward growth of the warehouse automation market.
However, high cost and complexity of automated systems limit their adoption in warehouses, which, in turn, hinders growth of the warehouse automation market.
On the contrary, emergence of Industry 4.0, along with integration of smart technologies such as artificial intelligence (AI), machine learning (ML), and internet of things (IoT) in warehouses creates ample growth opportunities for market players in the industry.
The global warehouse automation market is segmented on the basis of component, type, function, industry vertical, and region.
- By component, the market is classified into hardware and software & services.
- By type, the market is segmented into AGV/AMR, AS/RS-storage & retrieval, autonomous identification & data capture, conveyors & sorting systems, MRO services, order picking, overhead systems, palletizing & depalletizing, vision inspection equipment, and WMS/WES/WCS.
- By function, the market is categorized into inbound, picking, and outbound.
- By industry vertical, the market is categorized into transportation & logistics, apparel & sports, e-commerce, foods & beverages, retail & general merchandise, grocery, pharmaceuticals, consumer electronics, and others.
- By region, the market is segmented into North America, Europe, Asia-Pacific, and RoW.
North America is projected to hold a dominant share of the market by 2030
North America dominates the global warehouse automation industry, and is potently expected to remain dominant in the market throughout the forecast period. This is attributed to factors such as advancements in technology such as artificial intelligence and machine learning, demand for improved efficiency & productivity, along with rise in availability and affordability of automated systems across this region.
In addition, the U.S. is a technologically advanced country in North America. According to the International Federation of Robotics, in 2021, in the U.S., robot density in the car industry ranked 7th, globally. In the U.S. automotive industry, 1,287 robots were installed per 10,000 employees in 2021. The automotive industry utilizes robots in various applications in manufacturing vehicles including order picking and product handling in warehouses, which in turn, propels growth of the warehouse automation market.
Key Market Players
Some of the emerging and efficient key players in the warehouse automation market include:
• Honeywell International Inc.
• Kion Group
• SSI Schaefer
• Vanderlande Industries
• Omron Corporation
• Schneider Electric
• ABB Ltd
• TGW Logistic Group
• Toshiba Corporation
• Knapp AG
• Locus Robotics
• Yaskawa Electric Corporation
• Kuka AG
• Material Handling Systems Inc.
ABB launched "ABB SWIFT CRB 1300" industrial collaborative robot. The SWIFTI CRB 1300 is suitable for a wide variety of production and product-handling applications ranging from machine tending and palletizing to pick-and-place operations in warehouses.
Honeywell launched a new robotic depalletizer to help the warehouse to boost productivity by minimizing human labor.
Vanderlande launched an advanced automated picking robot to its Smart Item Robotics (SIR) warehouse solution portfolio. This robot featured gripping technology along with sophisticated vision and control suitable for warehouses and distribution centers handling general merchandise products.
OMRON Corporation launched a new software named as “Sysmac Studio 3D Simulation”. This is a simulation software for “Robotics Integrated Controller” that integrates as well as controls robots and control devices such as vision, servo and safety that make up production equipment.
Kion AG announced a strategic collaboration with Fraunhofer IML to develop a new generation of autonomous transport robots for warehouse management. The collaboration enabled to develop LoadRunner, an AI-based robot to pave the way for a new generation of autonomous transport vehicles as well as revolutionize intralogistics
• The warehouse automation market report provides quantitative analysis of the current market and estimations through 2023–2030, which assists in identifying the prevailing market opportunities.
• The study comprises a deep dive analysis of the warehouse automation market including current and future trends to depict prevalent investment pockets.
• Information related to key drivers, restraints, and opportunities and their impact on the warehouse automation market is provided in the report.
• Competitive analysis of the market players, along with their market share in the warehouse automation market is provided in the report.
• SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• Value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
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