Press release
Warehouse Robotics Market Size by Global Industry Share, Growth, Regional Analysis, Upcoming Trends, Key Manufacturers, Technology Updates and Development Factors and Forecast 2023
Warehouse robotics involves the deployment of robotics in warehouses to perform various functions such as, pick-placing, packaging, transportation, packaging, and palletizing. The integration of warehouse and robotics technology ensures accuracy and facilitates automation apart from increasing the storage space and operation efficiency of warehouses. The global warehouse robotics market is driven by the growing demand for automation due to the intense competition in e-commerce sector, rise in the number of stock-keeping units, and advancements in technology. However, factors such as initial higher costs related to training & deployment, lack of awareness, threat of job displacement, and difficulty in interacting with robots for some end users hamper the market growth.
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The global warehouse robotics market is segmented based on type of robot, function, end user, and geography. On the basis of type of robot, it is classified into SCARA, cylindrical, parallel, mobile, gantry, and stationery articulated robots. Presently, stationery articulated robots are the most dominant robot in the global market, followed by gantry robots. Stationery articulated robots and gantry robots are expected to lose their market share due to surge in the use of autonomous mobile robots. Stationery articulated robots are expected to grow at 11.9% during the forecast period, while mobile robots are expected to grow at 12.3% during the forecast period. Moreover, growth in the e-commerce, food & beverage, pharmaceutical, and automotive industries is expected to boost the adoption of these robots in the near future.
Based on function, it is categorized into pick & place, assembling-dissembling, transportation, and packaging. Pick & place is the most common function performed by warehouse robotics, followed by packaging. This segment is expected to grow at a CAGR of 11.3% during the forecast period. The transportation segment is expected to be the fastest growing segment registering a CAGR of 12.3% during the forecast period, owing to growth in mobile robots, dearth of skilled labor, and rise in labor costs.
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On the basis of end user, it is divided into e-commerce, automotive, food & beverages, electronics & electrical, metal, pharmaceuticals, and others. E-commerce holds the maximum share in the warehouse robotics market, followed by the automotive industry. E-commerce is expected to grow at a CAGR of 12.2% during the forecast period.
However, warehouse robotics segment is expected to grow at the highest CAGR of 12%, with the second leading position in the global market. Furthermore, the growth in the food & beverage industry in the Asia-Pacific and European regions is attributed to the increasing deployment of robots in packaging, palletizing, and transportation.
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