Warehouse Robotics Market to be Worth $15.1 Billion by 2031 |...

Warehouse Robotics Market to be Worth $15.1 Billion by 2031

Posted 2024-12-06 09:08:33

Warehouse Robotics Market to be

Worth $15.1 Billion by 2031

Meticulous Research®, a leading global market research company, has published a new report titled ‘Warehouse Robotics Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest report, the global warehouse robotics market is projected to reach $15.1 billion by 2031, registering a compound annual growth rate (CAGR) of 14.4% during the forecast period from 2024 to 2031.

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1.1.1 Market Drivers

The growth of the warehouse robotics market is primarily propelled by the increasing emphasis on optimizing warehouse operations to ensure faster product delivery and heightened efficiency. The surge in the adoption of autonomous mobile robots (AMRs) and the rising popularity of e-commerce platforms are key contributors to this expansion. As online shopping grows, companies seek advanced solutions to streamline order fulfillment, leading to the increasing demand for automation in warehouses.

However, despite the promising growth, the market faces challenges such as high initial costs associated with warehouse setup and infrastructure development, which could hinder wider adoption.

1.1.2 Opportunities and Challenges

The rapid evolution of robotics, artificial intelligence (AI), and machine learning technologies is expected to create substantial growth opportunities for players in the warehouse robotics market. These advancements are revolutionizing warehouse operations by enabling faster, more accurate picking and placing, reducing human error, and enhancing overall efficiency. However, the market also faces challenges such as security risks associated with connected autonomous robots, which may slow down market growth.

1.1.3 Market Segmentation

The warehouse robotics market is segmented based on product type, function, payload capacity, and end user. The report provides a comprehensive analysis of these segments and evaluates competitors at regional and country levels.

1.1.3.1 Product Type Insights:

· The Autonomous Mobile Robots (AMRs) segment is expected to dominate the market, accounting for over 29% of the market share in 2024. This growth is fueled by the rising demand for automation in warehouses, particularly in the e-commerce sector, where high-efficiency robots play a critical role in improving productivity. The demand for customized AMRs that cater to specific industries, such as consumer goods and fragile items, further drives the dominance of this segment.

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1.1.3.2 Function Insights:

· In terms of functions, the picking and placing segment is anticipated to hold the largest market share, with over 34% in 2024. This segment’s prominence is attributed to the growing need to optimize picking processes and maximize throughput in distribution centers. Additionally, the focus on accurate inventory tracking and timely replenishment helps prevent stockouts, boosting the segment’s market share.

1.1.3.3 Payload Capacity Insights:

· The Below 20 Kg segment is projected to lead the market, capturing over 26% of the market share in 2024. This growth is driven by the increased use of low payload capacity robots in industries like consumer electronics, food and beverage, and e-commerce, where smaller packages dominate.

1.1.3.4 End-User Insights:

· The retail & e-commerce segment is expected to hold over 22% of the market share in 2024. The dominance of this segment is fueled by the continuous rise in online shopping and the need for fast, efficient, and accurate order fulfillment. The demand for faster picking speeds and enhanced order accuracy in e-commerce warehouses is a key driver for this segment's growth.

Key Players

Key companies driving innovation in the warehouse robotics market include:

· Daifuku Co., Ltd. (Japan)

· KUKA AG (Germany)

· ABB Ltd. (Switzerland)

· FANUC Corporation (Japan)

· Toyota Material Handling India Pvt. Ltd. (India)

· Omron Corporation (Japan)

· Honeywell International Inc. (U.S.)

· Yaskawa Electric Corporation (Japan)

· Onward Robotics (U.S.)

· Zebra Technologies Corporation (U.S.)

· Hikrobot Co., Ltd. (China)

· SSI SCHÄFER - Fritz Schäfer GmbH (Germany)

· TGW Logistics Group (Austria)

· Addverb Technologies Limited. (India)

These players are continuously investing in research and development to enhance the capabilities of warehouse robotics, catering to the growing demands of the global supply chain and logistics sectors.

In conclusion, the warehouse robotics market is poised for substantial growth in the coming years, driven by technological advancements and the increasing need for automation in warehousing, particularly in the fast-growing e-commerce industry.

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Warehouse Robotics Market to be

Worth $15.1 Billion by 2031

Download free sample report here: https://www.meticulousresearch.com/download-sample-report/cp_id=6027

1.1.1 Market Drivers

However, despite the promising growth, the market faces challenges such as high initial costs associated with warehouse setup and infrastructure development, which could hinder wider adoption.