The Global Warehouse Robotics Market Driven By Increasing Labor Costs Is Boosting Demand For Automation

The Global Warehouse Robotics Market Driven By Increasing Labor Costs Is Boosting Demand For Automation

Robots are used to perform various warehouse operations, such as pick, place, pack, transfer, and transport tasks within facilities supporting various industries including automotive, electrical & electronics, food & beverages, retail, healthcare, and others. Robotic solutions enable warehouses to handle increased order volumes efficiently while reducing reliance on human labor. For instance, robot arms integrated with grippers can pick and place items precisely reducing product damage. Autonomous mobile robots can transport goods within facilities safely without collisions.

The global Warehouse Robotics Market is estimated to be valued at US$ 13.18 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing adoption of autonomous mobile robots (AMRs) is one of the major trends witnessed in the global warehouse robotics market. AMRs comprise of self-driven robots that operate autonomously without any need for infrastructure or external positioning systems. They are equipped with technologies such as vision systems, laser navigation, and other advanced sensors that allow them to perceive, detect and avoid obstacles while transporting materials within facilities. The use of AMRs eliminates the need for expensive conveyor systems and fixed automation infrastructure. They are scalable and flexible to meet changing business requirements. Furthermore, advancements in AMR navigation technologies such as multi-sensor data fusion are enabling safer navigation in untested and dynamic warehouse environments. This is supporting the increasing deployment of AMRs for transportation and logistics applications across warehouses.

Porter's Analysis

Threat of new entrants: The threat of new entrants in the warehouse robotics market is moderate. The robotics field requires considerable investment and research which present barriers for new companies. However, some small players are entering with innovative niche products.

Bargaining power of buyers: The bargaining power of buyers in the warehouse robotics market is moderate to high. Buyers have several options from global brands as well as regional suppliers and can negotiate on price and delivery terms.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are several component manufacturers for engines, hardware, software etc. However, innovative suppliers of specialized components maintain some bargaining power.

Threat of new substitutes: The threat of substitutes is low as robotics offer far higher operational efficiency over manual labor. However, substitutes may emerge from technologies like automated guided vehicles, conveyor belts etc. to perform narrow tasks.

Competitive rivalry: The warehouse robotics market has healthy competition among global brands. Companies compete based on product quality, features, services and pricing to win large clients.

Key Takeaways

The Global Warehouse Robotics Market Size is expected to witness high growth over the forecast period supported by the need for automation and efficiency gains in logistics operations. The global Warehouse Robotics Market is estimated to be valued at US$ 13.18 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.

Regional analysis - North America dominates currently due to strong adoption by e-commerce and 3rd party logistics companies in the region. However, Asia Pacific is expected to emerge as the fastest growing market with China and India among the major countries driving the demand.

Key players operating in the warehouse robotics market are Apogee Enterprises Inc., Fletcher Building, Ply Gem Holdings Inc., YKK AP Inc., LIXIL Group Corporation, Xingfa Aluminium, Sapa Group. These key players are focusing on developing innovative products with advanced features and capabilities to strengthen their position. The increasing use of Internet-of-Things (IoT) in robotics will further ramp up competition.

For More details on the topic:

https://www.marketwebjournal.com/warehouse-robotics-market-size-market-share-analysis/

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