Warehouse Robotics Market - Forecast (2020 - 2025)
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According to a report released by CBRE Group Inc., which is a commercial real estate service and investment firm, warehouse landscape in the United States of America is on a rise. Average size of a warehouse has increased by 143 per cent in the last ten years with 184,693 square feet being the size of a typical warehouse. These warehouses have expanded due to rising e-commerce sector and now require a higher number of workers for smooth functioning. Since manpower is limited, e-commerce giants are now relying on robots to run the space and perform work tirelessly. This has given birth to warehouse robotics market which has witnessed exponential growth in the last few years. In the year 2018, the global warehouse robotics market size stood at $2.79 billion, and during the forecast period of 2019-25, the global market size is expected to grow with a compound annual growth rate (CAGR) of 10.46%.
With a rising e-commerce sector, industrial warehouses require more manpower and efficiency. However, key market players are instead opting for robotics to ease up their work. Warehouse robotics have now become an important factor for the growth of the e-commerce market as robots are deployed in these places to increase safety as they perform difficult tasks, increase the speed of the process by working tirelessly and contributing in financial savings as they do not take any salaries. APAC region with its burgeoning automotive manufacturing sector heavily employs warehouse robotics. In every manufacturing units, these robots are used for easing up the process. In the year 2018, APAC held a high regional share of 29.25% in the global warehouse robotics market.
Ø The World Is Moving Towards An Automated Environment
More and more industries and companies are embracing the concept of automation. Automation has resulted in a tremendous increase of productivity in an industrial setup. In an automated warehouse, robots move around the pellets, stocking up on delivery and reducing manual labor to a considerable extent. Minimization of human errors has been the leading factor for the growth of the warehouse market. With an increasing number of robots scurrying around the warehouse alleys, product sorting has become easier leading to an enhanced supply chain management system, and proper distribution networks.
Challenges that are hampering the growth of the warehouse robotics market are high initial financial investment for setup and lack of skilled labour for employing these robots. To combat this challenge, proper scientific training must be provided to industrial workers for learning more about deploying warehouse robots and working alongside them.
There are several key market players in the global warehouse robotics market including ABB Ltd., Fanuc Corp., Kuka AG, Yaskawa Electric Corp., Amazon.com, Inc., Yamaha Robotics, Fetch Robotics, Inc., Locus Robotics, Omron Corporation, Honeywell International Inc., and Siemens AG.
Yamaha Robotics have produced extensively in the market of warehouse robotics with their primary focus on payload issues and speed in an industrial set-up. They offer a wide range of SCARA models as well as single axis models which can handle a maximum payload of 160 kg.
Ø Amazon Inc Expanding Its Warehouse Robotics Base
Amazon, one of the world's leading businesses has acquired Canvas Technology in April 2019 for Canvas's technological innovations in warehouse robotics. Founded in 2015, Canvas has gained a lot of popularity owing to their new robotic products including a completely autonomous cart system which is extremely useful for an e-commerce company like Amazon. Canvas has around 100,000 systems that have been deployed in around 25 centres all across America. Through this acquisition, Amazon plans on creating a warehouse chain where people work alongside robotics in a safer environment and experience both fun and increased productivity.
Warehouse Robotics Market Research Scope
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Warehouse Robotics Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of cheese in the Warehouse Robotics Market, and their specific applications in different areas.
Warehouse Robotics Market Report: Industry Coverage
More than 10 Companies are profiled in this Research Report*
"*Financials would be provided on a best efforts basis for private companies"