Increasing Trend of Online Shopping Expected to Boost the Warehouse Robotics Market

The warehouse robotics market was valued at USD 2.28 billion in 2016 and is expected to grow at a CAGR of 11.8% between 2017 and 2022. The base year considered for the study is 2016 and the forecast period is between 2017 and 2022. Rising labor costs, growing e-commerce industry, need for efficient and reliable warehouse operations, active funding from venture capitalists for startup robotics companies, increasing adoption of warehouse robotics by small- and medium-sized enterprises (SMEs) are the key driving factors for the growth of the warehouse robotics market.

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Mobile robots held the largest share of the warehouse robotics market in 2016 and is expected to grow at a high rate between 2017 and 2022. Mobile robots are widely used by leading e-commerce companies and are also being gradually implemented in warehouses operated by manufacturing companies. The mobile robot adapts to changes in product types and velocities, order prioritization, and order shipment accuracy. Another key advantage of the mobile robot is a faster return on investment (ROI), as mobile robots are easier to set up and cheaper to operate.

Warehouse management system (WMS) accounted for the largest share of the warehouse robotics market in 2016 and is expected to grow at the highest CAGR between 2017 and 2022. WMS is a highly specialized business application that controls the flow of inventory into, within and out of a company's warehouse or multiple warehouses. High awareness about the benefits offered by WMS among warehouse operators is the key driver for the growth of the WMS market. WMS offers benefits such as higher productivity, reduced cost, improved space utilization, reduced inventory, and improved customer satisfaction.

Pick and place function accounted for the largest share of the overall warehouse robotics market in 2016. Pick and place robots are widely used by various industries, as these robots are accurate and highly efficient and reduce the order processing time and related cost.

The 0.5 kg to 10 kg payload capacity held the largest share of the warehouse robotics market in 2016 and is expected to grow at the highest rate during the forecast period. The e-commerce and food and beverages are highly demanding industries in the warehouse robotics market. Many warehouse operators of these industries invest in robots with smaller payload capacity as these robots can handle smaller sized packets efficiently and cost effectively.

The e-commerce industry accounted for the largest share of the overall warehouse robotics market in 2016. Since the past few years, the global e-commerce industry has been witnessing strong growth and profitability. The increasing trend of online shopping, rapidly changing customer demands, increasing demand for shorter delivery times, and fierce competition among online retailing companies has increased the demand for automated fulfilment centers, which in turn has increased the demand for robots.

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