The global warehouse robotics market size is anticipated to reach USD 6.46 billion by 2025, expanding at a CAGR of 11% over the forecast period, according to a new report published by Grand View Research, Inc. The rapidly growing e-commerce industry and intensifying pressure on warehouses from the consumers about quick and proficient deliveries are expected to drive the growth.
The market for warehouse robotics has gained prominence in the past decade, owing to the increasing need to automate the distribution centers so as to attain efficacy, reduce operational costs and time, and ease the labor-intensive tasks. Robots assist in reducing the time of order-to-delivery stretch, consignment packaging errors, and the need for the reverse supply chain. Businesses are continually investing in automation systems for their facilities to address concerns, such as high turnover of people and labor shortage.
The flourishing start-ups in the Asia Pacific-particularly in India and China-primarily involved in the e-commerce sector, are generating more demand for warehouse robotics owing to the growing consumer trend of online shopping and dynamic funds provided by the venture capitalists. Companies are expected to be highly inclined toward deploying mobile robots, owing to their inherent ability to navigate in the facility by deciding an optimum route without human supervision by using sensors.
The demand for robotic systems in material handling is expected to widen their application base. The continuous innovations which help them to enhance logistics processes, have greatly assisted in countering the lack of productivity associated with aging workforce. Moreover, robotic technologies are evolving in competencies and turning out to be more affordable. Hence, the warehouse robotics market is anticipated to witness substantial growth over the forecast period.
However, factors the growth of the global warehouse robotics industry, which include the threat of job replacement and safety-related concerns may hinder the market growth in the forthcoming years.
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Further key findings from the report suggest:
- The mobile robots product segment is projected to expand at the fastest CAGR from 2019 to 2025, due to the growing deployment of Automated Guided Vehicles (AGVs) and autonomous mobile robots in the warehousing industry owing to their better capability of enhancing the facility throughput
- The Warehouse Control Systems (WCS) and Warehouse Execution System (WES) software segments are anticipated to witness rapid growth over the forecast period to manage and control the flow of inventory on several automation systems in a real-time manner and manage most of the supply chain operations
- Asia Pacific and Middle East and Africa are expected to witness a substantial CAGR in near future, owing to the focus of governments on digital revolution and next-generation technologies, hence, fast-paced progress by leveraging the skills offered by robotic systems
- The warehouse operators require on-demand automation, real-time monitoring, and natural navigation of robots to ensure enhanced safety in their facilities