Automating Tomorrow: The Logistics Robotics Market on Track for a 16.2% CAGR to hit $27.8 billion by 2031

Logistics Robotics Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Automated Guided Vehicles, Autonomous Mobile Robots, Robot Arms, Others), by Function (Pick and Place, Palletizing and Depalletizing, Transportation, Packaging), by End User (Healthcare, Warehouse, Hospitality, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

The logistics robotics market was valued at $6.3 billion in 2021, and is estimated to reach $27.8 billion by 2031, growing at a CAGR of 16.2% from 2022 to 2031.

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The logistics industry includes several different processes such as ordering, transporting, warehousing, picking, packing, delivery, inventory, and routing. Logistics robotics means the application of robotics to one or more of these processes. Logistics robots encompass any autonomous system or machine used to automate product flows, maximize safety, and boost productivity in warehouse operations. A few common applications of robotics in warehousing are robotic palletizing, robotic packaging, and robotic picking commonly used in warehousing or any other logistics software solutions.

Rise in need for safety among workers in workplace and surge in demand from online retailers have boosted the growth of the global logistics robotics market. However, high initial acquisition cost and challenges while working in untested environments hinder the market growth. On the contrary, advent of industry 4.0 into logistics and warehousing and growth of logistics robots in developing economies would open new opportunities in the future.

The implementation of new technologies in any warehouse process including goods receipt, storage, stock management, order processing, and shipping has led to these robots becoming more prominent. These solutions work with full autonomy to perform functions such as transferring products between two points, preparing orders, and storing products on racks. The growth of the logistics robotics market size is majorly driven by the rapid introduction of robots in the logistics tasks in the industries to eliminate the risk of mistakes and ramp up productivity. According to logistics robotics market analysis, the automated guided vehicles segment was the highest contributor to the market in 2021 and is expected to follow the same trend during the forecast period.

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The logistics robotics market is segmented into Type, Function and End User.
By type, the automated guided vehicles segment held the largest share in 2021, accounting for more than two-fifths of the global logistics robotics market, and is estimated to dominate the market throughout the forecast period. In addition, the segment is expected to register the highest CAGR of 17.1% during the forecast period. Industries are focusing on improving workplace safety to eliminate accidents, reduce downtime, and increase productivity. There is growing awareness about AGVs, and an increasingly large number of companies are implementing AGVs in their warehouses.

By function, the packaging segment is expected to register the highest CAGR of 17.53% during the forecast period. Packaging has been an integral part of the supply chain, which is why it is integrated with warehousing. Swiftness, quality, cost-efficiency in packaging, complexity, and innovation in packaging, especially in pharmaceutical and food & beverage by robot fuels the growth of robotics in warehouses. However, the pick and place segment held the largest share in 2021, contributing to nearly one-third of the global logistics robotics market.

By end user, the warehouse segment dominated the market in 2021, accounting for more than half of the global logistics robotics market, and is expected to continue its dominance from 2022 to 2031. Factory or warehouse robot can plan their own path, move quickly, and offer greater flexibility and potential than traditional transportation methods. This provides lucrative opportunities for logistics robotics in factory/warehouses as it reduces warehouses management cost, provides goods picking precision among others. However, the hospitality segment is estimated to showcase the highest CAGR of 18.33% during the forecast period. Delivery robot are an emerging technology that assists hotels drive revenue while improving facilities among their competitors, guest's appearances, and staff productivity.

By region, the market across Asia-Pacific dominated the market in 2021, holding around half of the global logistics robotics market, and is expected to dominate in terms of revenue during the forecast period. Asia-Pacific is the largest manufacturer of electronic & electrical goods and metal & machinery goods. Japan and China lead the industrial automation market. Warehouse robotics can help companies reduce overhead costs and increase productivity with consistency and accuracy. All these factors create lucrative opportunities for Asia-Pacific in logistics robotics market. However, the market across North America is expected to register the highest CAGR of 17.93% during the forecast period. This is due to increase in competitiveness among the players in these industry verticals and high cost of labor in North America. In addition, the e-commerce, automotive, pharmaceutical, and food & beverage industries drive the market growth. The report includes analysis of the market across Europe, Asia-Pacific, and LAMEA.

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Key players profiled in the report include ABB, Toyota Industries Corporation, Kawasaki Heavy Industries Ltd., Fanuc Corporation, Vecna Robotics, KUKA AG, Yaskawa America Inc., Toshiba Corporation, Dematic, and OMRON Corporation. These market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the logistics robotics market.

Key Benefits for Stakeholders:
➡️ This study comprises analytical depiction of the Logistics robotics market size along with the current trends and future estimations to depict the imminent investment pockets.
➡️ The overall Logistics robotics market analysis is determined to understand the profitable trends to gain a stronger foothold.
➡️ The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
➡️ The current market forecast is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
➡️ Porter's five forces analysis illustrates the potency of the buyers and suppliers in the Logistics robotics.
➡️ The report includes the market share of key vendors and Logistics robotics market trends.

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