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Warehouse Automation Market Size, Share, Growth Value And Forecast 2033
Warehouse Automation Market
The Business Research Company offers in-depth market insights through Warehouse Automation Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Growing Demand From E-Commerce Spurs Expansion Of Warehouse Automation Market
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.
Competitive Landscape:
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
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Top Trend - Strategic Collaboration Dominates Warehouse Management System Market
Major companies operating in the warehouse automation market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in February 2021, Shadowfax Technologies Ltd., an India-based on-demand logistics services provider, partnered with Vinculum Solutions, an India-based software company, to develop warehouse management system. Combining Shadowfax's established 3PL services with Vinculum's advanced WMS created a unique and competitive offering.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Warehouse Automation Market Characteristics
3. Warehouse Automation Market Trends And Strategies
4. Warehouse Automation Market - Macro Economic Scenario
5. Warehouse Automation Market Size And Growth
…..
27. Warehouse Automation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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