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Vietnam Warehouse Robotics Market Research Analysis and Huge Growth: 2023, Regional Demand and New Challenges by 2029
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According to a recent study by Report Ocean, the size of the Vietnam warehouse robotics market was estimated to be USD 12.07 million in 2022. The market is expected to grow at a robust CAGR of 15.45% during the forecast period from 2023 to 2029, reaching a value of USD 32.82 million by 2029. Key growth factors driving the Vietnam warehouse robotics market include the rising competition between brick-and-mortar stores and online businesses, the surging demand for speedy delivery, the need for precision and reliability, the desire to retain a small workforce, and strong adoption of warehouse robotics by small and medium enterprises (SMEs). Other factors expected to fuel the demand for warehouse robotics include cost reduction and increased productivity, technological advancements in robotics, the growing requirement for automated material handling, and the increase in the number of fulfillment centers. However, the lack of a skilled workforce to operate robots is anticipated to restrain the growth of the Vietnam warehouse robotics market during the analysis period.
Warehouse robotics employs automation systems, robots, and software programs to handle materials, perform various tasks, and streamline warehouse operations. Robots play a crucial role in automation technologies and have gained traction in the supply chain, distribution center, and warehouse control communities. Warehouse robots can perform tasks such as picking, floor cleaning, barcode scanning, inventory data management, pallet building, and back-office work.
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Warehouse automation offers advantages such as lower labor costs, increased speed, and higher levels of accuracy. The growth of e-commerce has been a major driving force behind the development of warehouse robotics, as companies in the supply chain and logistics industry face pressure to deliver goods quickly and meet customer expectations. Warehouse robots have significantly reduced the time and effort required for tasks such as inventory scanning, package packing, shelf organization, and more. The global market for warehouse robots is growing due to increased collaboration between warehousing and e-commerce.
The COVID-19 pandemic had a significant impact on the Vietnam warehouse robotics market. While the pandemic caused disruptions in various industries, it also accelerated the adoption of automation and robotics technology in warehouses. The need for social distancing and reduced transmission risk led to increased interest and investment in warehouse robotics technology. The pandemic highlighted the importance of supply chain resilience and agility, driving a greater interest in automation and robotics technology to improve supply chain operations. Warehouse robotics technology can help companies manage inventory, optimize storage space, and improve order fulfillment times, all critical factors for maintaining supply chain resilience. Additionally, the growth of e-commerce during the pandemic created a greater demand for warehouse automation and robotics technology in Vietnam, as e-commerce companies require efficient order processing and fulfillment.
In terms of payload capacity, the Vietnam warehouse robotics market is divided into four segments: less than 20 kg, 20-100 kg, 100-300 kg, and more than 300 kg. The less than 20 kg segment dominates the market due to the growing demand for smaller and more flexible robots that can perform various tasks in warehouses.
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Major players operating in the Vietnam warehouse robotics market include ABB, KUKA AG, FANUC CORPORATION, YASKAWA ELECTRIC CORPORATION, KION GROUP AG, Daifuku Co., Ltd., Geekplus Technology Co., Ltd., and Grey Orange Pte. Ltd. These companies employ various strategies such as mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to enhance their market share.
The in-depth analysis provided by the report offers insights into the growth potential, upcoming trends, and statistics of the Vietnam warehouse robotics market. Decision-makers can rely on the report to stay informed about recent technology trends and make sound strategic decisions. The report also analyzes the
growth drivers, challenges, and competitive dynamics of the market.
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