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Inventory Robots Market Growth Accelerates: Strategic Forecast Predicts $203.62 Billion by 2029
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the Inventory Robots Industry Market Size Be by 2025?
The market for inventory robots has seen rapid expansion in recent years. It is projected to increase from $119.34 billion in 2024 to $132.15 billion in 2025, with a compound annual growth rate (CAGR) of 10.7%. The historic growth can be attributed to various factors including the surge in e-commerce that demands speedy order fulfillment, advancements in robotic technology that bring down automation expenses, labor scarcities driving investment in automated solutions, the urge to minimize human error, competitive forces pushing improvements in supply chain management, and the escalating complexity of inventory systems that call for advanced management tools.
What's the Long-Term Growth Forecast for the Inventory Robots Market Size Through 2029?
The market size for inventory robots is projected to witness a swift surge in the coming years, with a compounded annual growth rate (CAGR) of 11.4% expected to hit $203.62 billion by 2029. The upgrowth during this forecasting timeframe can be ascribed to swift advancements in AI and machine learning, the development of IoT-integrated smart warehouses, escalating customer demands for swift deliveries, increased investment in automation from several businesses sector, an earmarked need for better supply chain resilience, efforts towards cost-cutting and improving operational efficiency, as well as a shift towards eco-friendly, sustainable technologies. In the forecasted period, key trends are projected to include the amalgamation of advanced machine vision and AI, the inception of self-directed mobile robots boasting improved navigation, flexible and modular robotic systems, enriched data analytics for real-time inputs, sustainable and energy-efficient robotic designs, along with the implementation of autonomous drones for inventory management.
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What Are the Key Growth Drivers Fueling the Inventory Robots Market Expansion?
Referring to the digital purchase and sell of goods or services, e-commerce is anticipated to catalyze the expansion of the inventory robots market. All internet-based transactions, from shopping, payment, to delivery processes, are encapsulated by e-commerce, allowing businesses and consumers to engage and transact digitally. The rise of e-commerce can be attributed to the ease of online shopping, extensive array of products, price comparison capabilities, technological advancement, and wider internet access. Inventory robots aid e-commerce through the automation of tasks such as sorting, retrieving, and administering products-increasing efficiency, reducing errors, and accelerating warehouse order fulfillment. For example, data released by the United States Census Bureau, a government agency of the US, revealed that e-commerce sales heightened to $282.3 billion in the second quarter of 2024, reflecting a 5.3% rise compared to the first quarter of 2023. Furthermore, in the second quarter of 2024, e-commerce sales made up 16% of retail sales. Hence, the expansion of e-commerce is fuelling the growth of the inventory robots market.
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What Are the Key Trends Driving Inventory Robots Market Growth?
Main players in the inventory robots market, such as autonomous aisle-scanning robots, are focusing on improving their robots to optimize inventory management, boost store operations, and elevate customer experience. These self-navigating machines roam store aisles, monitoring inventory levels, product arrangements, and shelf conditions, thus improving the efficiency and accuracy of retail stores. To illustrate, Simbe Robotics, a US-based automation technology company, launched Tally Robot in July 2024. This new feature lets retailers monitor their store shelves remotely using images captured by autonomous aisle-scanning robots. The technology provides a way to observe store conditions on handheld devices or computers, using high-definition photos and time-lapse videos of store shelves at varying heights. The imagery and data gathered by Simbe's Tally Robots can now be viewed and evaluated through mobile apps, enabling store personnel and management to check inventory levels, product configurations, and other store details in real-time. This development signifies retailers' increasing reliance on data inspection for effective store administration.
How Is the Inventory Robots Market Segmented?
The inventory robotsmarket covered in this report is segmented -
1) By Product: Mobile Robotics, Fixed Robotics
2) By Component: Hardware, Software, Services
3) By End-User: Automotive, Metal And Machinery, Retail And E-Commerce, Food And Beverages, Pharmaceuticals, Other End Users
Subsegments:
1) By Mobile Robotics: Automated Guided Vehicles (AGVs), Autonomous Mobile Robots (AMRs), Robotic Cart Systems, Drones For Inventory Management, Robotic Tuggers And Transporters
2) By Fixed Robotics: Conveyor Belt Robots, Robotic Arms For Inventory Handling, Fixed-Position Sorting Robots, Robotic Shelving and Retrieval Systems, Pick-and-Place Robots
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Which Companies Are Leading the Charge in Inventory Robots Market Innovation?
Major companies operating in the inventory robots market are Jabil Inc., Kion Group AG, Zebra Technologies Corporation, Daifuku Co. Ltd., KUKA AG, Ocado Group plc, Amazon Robotics LLC, Knapp AG, Bastian Solutions LLC, 6 River Systems Inc., Grenzebach Maschinenbau GmbH, Geek+ Technology Co. Ltd., Locus Robotics Inc., Bossa Nova Robotics Inc., Brain Corp., Fetch Robotics Inc., Clearpath Robotics Inc., GreyOrange Pte. Ltd., RightHand Robotics Inc., Simbe Robotics Inc., IAM Robotics Inc., MetraLabs GmbH, PAL Robotics S.L., Keonn Technologies S.L.
Which Regions Are Leading the Global Inventory Robots Market in Revenue?
North America was the largest region in the inventory robots market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the inventory robots market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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