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Warehouse Automation Market: Share, Growth, Segmentation, and Outlook for 2024-2033 - Analyzing Market Performance
Warehouse Automation Market
The Business Research Company presents an extensive market research report on the Warehouse Automation Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The warehouse automation market size has grown rapidly in recent years. It will grow from $19.27 billion in 2023 to $21.9 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to e-commerce growth, labor shortages and costs, global supply chain complexity, consumer expectations for faster delivery, inventory management efficiency.
The warehouse automation market size is expected to see rapid growth in the next few years. It will grow to $36.48 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to rise in same-day and on-demand delivery, sustainability and green warehousing, microfulfillment centers. Major trends in the forecast period include warehouse execution systems (WES), voice-activated and wearable technologies, automated palletizing and depalletizing systems, real-time monitoring and analytics, sustainable and green warehouse solutions.
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Key Market Players:
Major companies operating in the warehouse automation market report are Viastore Systems Inc., ABB Ltd., Toyota Industries Corporation, Kion Group AG, Omron Corporation, Daifuku Co Ltd., Yaskawa Electric Corp Inc., KUKA Group, Schaefer Systems International Pvt Ltd., Honeywell Intelligrated Systems Inc., KNAPP Group, Vanderlande Industries BV, SSI Schaefer AG, Material Handling Systems Inc., WITRON Logistik + Informatik GmbH, Mecalux SA, Beumer Group, TGW Logistics Group, Swisslog Holding, Interroll Group, Bastian Solutions LLC, Kardex Group, Grenzebach Group, System Logistics SpA, Locus Robotics, Murata Machinery Ltd., Kardex Remstar LLC, Godrej Koerber Supply Chain Limited, Space Magnum Equipments Pvt Ltd., Fives Group
Market Drivers:
The rise in e-commerce sales will drive the growth of the warehouse automation market. As retailers struggle to keep up with the increasing volume of orders and their last-mile delivery needs, warehouse automation is briskly turning into the trump card for those who are looking for a leg up on the competition, especially in the competitive e-grocery market. For instance, according to the Robotic Business Review, e-commerce will grow and is expected to reach 22% of all retail sales worldwide in 2023, as compared to 14.1% in 2019. According to a study published by Prologis, a US-based real estate investment trust, in 2021, the use of automation in warehousing is expected to increase revenue per square foot from 10% to 20% in the e-commerce real estate sector in the next three years. Therefore, the rise in the e-commerce sector is expected to boost the warehouse automation market during the forecast period.
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https://www.thebusinessresearchcompany.com/report/warehouse-automation-global-market-report
The warehouse automation market covered in this report is segmented -
1) By Type: Conveyor/Sortation Systems, Automated Storage and Retrieval Systems (AS/RS), Mobile Robots, Warehouse Management Systems (WMS), Automatic Identification and Data Capture (AIDC)
2) By Component: Hardware, Software
3) By Function: Inbound, Picking, Outbound
4) By End User: General Merchandise, Healthcare, FMCG/Non-durable Goods, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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