Warehouse Robotics Market Size To Reach $4.44 Billion By 2022
The Warehouse Robotics Market is expected to be valued at USD 4.44 billion by 2022, growing at a CAGR of 11.8% between 2017 and 2022. The growth of this market is propelled by the growing e-commerce industry, need for enhanced quality and reliability in warehouse operations, active funding from venture capitalist for startup robotics companies, and increasing adoption of warehouse robotics by small- and medium-sized enterprises (SMEs).
Mobile robots held the largest share of the warehouse robotics market in 2016 and is expected to grow at a high rate between 2017 and 2022. Mobile robots are widely used by leading e-commerce companies and are also being gradually implemented in warehouses operated by manufacturing companies. The mobile robot adapts to changes in product types and velocities, order prioritization, and order shipment accuracy. Another key advantage of the mobile robot is a faster return on investment (ROI), as mobile robots are easier to set up and cheaper to operate.
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Warehouse management system (WMS) accounted for the largest share of the warehouse robotics market in 2016 and is expected to grow at the highest CAGR between 2017 and 2022. WMS is a highly specialized business application that controls the flow of inventory into, within and out of a company’s warehouse or multiple warehouses. High awareness about the benefits offered by WMS among warehouse operators is the key driver for the growth of the WMS market. WMS offers benefits such as higher productivity, reduced cost, improved space utilization, reduced inventory, and improved customer satisfaction. Pick and place function accounted for the largest share of the overall warehouse robotics market in 2016.
Pick and place robots are widely used by various industries, as these robots are accurate and highly efficient and reduce the order processing time and related cost. The 0.5 kg to 10 kg payload capacity held the largest share of the warehouse robotics market in 2016 and is expected to grow at the highest rate during the forecast period. The e-commerce and food and beverages are highly demanding industries in the warehouse robotics market. Many warehouse operators of these industries invest in robots with smaller payload capacity as these robots can handle smaller sized packets efficiently and cost effectively.
The e-commerce industry accounted for the largest share of the overall warehouse robotics market in 2016. Since the past few years, the global e-commerce industry has been witnessing strong growth and profitability. The increasing trend of online shopping, rapidly changing customer demands, increasing demand for shorter delivery times, and fierce competition among online retailing companies has increased the demand for automated fulfilment centers, which in turn has increased the demand for robots.
“Mobile robots to hold the largest market size in the warehouse robotics market between 2017 and 2022“
Mobile robots are expected to lead the overall warehouse robotics market between 2017 and 2022. The fast moving nature of items and same day or next day delivery schedules has made e-commerce companies to implement mobile robots in their warehouses. Mobile robots have the capability of moving products around the warehouse faster than human workers and retrieving them without an error. This factor makes mobile robots a preferred choice for the e-commerce companies.
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“The warehouse robotics market for the food and beverages industry to grow at a high rate between 2017 and 2022”
The warehouse robotics market for the food and beverages industry is expected to grow at a significant rate between 2017 and 2022. The growing trend of processed food and packaged eatables, requirement of clean room storage, and need for automated and hygienic handling of food items are expected to drive the growth of the warehouse robotics in the food and beverages industry.
“North America expected to lead the warehouse robotics market between 2017 and 2022”
North America is one of the key growth regions for the warehouse robotics market. The favorable economic conditions in the U.S., highly developed warehousing infrastructure, and a growing e-commerce industry are the key factors for the growth of the warehouse robotics market in North America.
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