Projected at a Remarkable US$ 4,924.3 Million by 2033: Warehouse Robotics Market to Surge with a Strong 13.7% CAGR

Future Market Insights (FMI) reports a robust projection for the global warehouse robotics market, foreseeing its value to soar to US$ 4,924.3 million by the year 2033. This growth trajectory is anticipated to be driven by an impressive Compound Annual Growth Rate (CAGR) of 13.7% from 2023 to 2033. The market's value is estimated to stand at US$ 1,365.8 million by 2023.

The rapid expansion of warehouse automation can be attributed to the soaring demand for consumables and perishable goods across diverse industries, ranging from electronics and automotive to e-commerce. Manufacturers in the warehouse sector are increasingly turning to integrated robotics solutions to expedite product delivery to customers, marking a significant advantage for the robotics market.

An additional surge in demand stems from the proliferation of independent and small-scale warehouses, creating a need for affordable and user-friendly robotic solutions. The requirement for robots in warehouse operations is further amplified by the rise in mixed-volume production across various locations.

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Shifting demographics and widespread internet accessibility have led to an increased demand for goods through online sales channels. This surge in demand has fueled the construction of new e-commerce warehouses on a global scale, presenting numerous opportunities for automation solutions. The industrial robotics sector accounted for approximately 3% to 5% of the global market in 2022.

The industrial robotics market witnessed significant growth in 2021, and this upward trend is expected to persist throughout the projected period. According to the International Federation of Robotics, the annual installation of industrial robots surged from 394,000 units in 2020 to 517,000 units in 2021, indicating a remarkable growth of around 30%.

Within the Asia Pacific region, China, Japan, South Korea, and the Association of Southeast Asian States remain the leading markets for industrial robot sales. With the increasing adoption of robots across various industries, there is a promising potential for robots to play a profitable role in warehouse tasks.

Key Insights from the Warehouse Robotics Market Analysis

The top five countries are expected to contribute to approximately 85.3% of the warehouse robotics market share by 2023. Between 2018 and 2021, the warehouse robotics market witnessed a substantial Compound Annual Growth Rate (CAGR) of 7.0%. Italy's warehouse robotics market is projected to hold a moderate share of around 24.1% by the year 2033. China's warehouse robotics market is anticipated to dominate with a share of about 66.9% in 2023. In terms of product type, the automated guided vehicles segment is predicted to account for a share of 44% by 2033. According to a lead analyst, the market is poised for expansion by 2033, driven by heightened demand from retailers and e-commerce businesses. Additionally, there is a potential for robotic solutions in inventory control, particularly in the full-lifecycle management of returned and recycled goods. Supply chain optimization is also expected to contribute to the increased demand for robotics in warehouse operations.

Competitive Landscape: Warehouse Robotics Market

To enhance efficiency, numerous established companies and emerging robot startups are focusing on innovative and cutting-edge warehouse solutions. Well-established players are pursuing strategies involving acquisitions.

These companies are also working on developing new and integrated robotic solutions to meet the evolving needs of end-users. Launching new warehouse projects, especially in developing nations, is a priority for many businesses, driven by the rising demand for third-party logistics.

For example

In February 2022, Hai Robotics announced its collaboration with the world's largest sportswear company, Anta, for a new autonomous warehouse project. Hai Robotics, with its involvement in projects like the Anta collaboration, is gaining recognition as a leading supplier in the industry, particularly in the apparel and footwear market. This success is attributed to its active participation in multiple projects.

Key Players in the industry:

ABB Ltd.
Addverb Technologies
Daifuku
FANUC Corporation
Geekplus Technology
Hikrobot
IAM Robotics
InVia Robotics Inc.
JBT
KION Group AG, among others

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Warehouse Robotics Market Outlook by Category

By Product Type:
Autonomous Mobile Robots
Automated Guided Vehicle
Articulated Robots
Cylindrical and SCARA Robots
Collaborative Robots
Others

By Function:
Picking & Placing
Palletizing & De-Palletizing
Transportation
Packing

By Payload Capacity:
Below 100 Kg
100 to 200 Kg
200 to 300 Kg
300 to 400 Kg
400 to 600 Kg
600 to 900 Kg
900 to 1200 Kg
Above 1200 Kg

By End-use Industry:
Food & Beverage
Electronics & Electrical
Metal & Machinery
Automotive
Pharmaceuticals
Independent Warehouse
Cold Storage
Dry Storage
E-commerce
Chemical, Rubber and Plastics
Others

By Region:
North America
Latin America
East Asia
South Asia Pacific
Western Europe
Eastern Europe
Central Asia
Russia & Belarus
Balkan & Baltic Countries
Middle East & Africa

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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This release was published on openPR.