Warehouse Robotics Market is Estimated to Witness High Growth Owing to Opportunity in Warehouse Automation

Warehouse Robotics Market


Warehouse robotics include robotic arms, automated guided vehicles (AGVs), autonomous mobile robots (AMRs) and other autonomous devices that help in material handling within a warehouse. They improve the productivity and efficiency of warehouse operations by automating repetitive and dangerous tasks such as picking, packaging, transportation and palletization. Warehouse robotics aids in increasing storage density and throughput, reducing costs and fulfill orders more quickly compared to traditional warehouse tasks performed by humans.

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 6.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity in warehouse automation is driving the growth of the warehouse robotics market. With growing e-commerce industry and the need to reduce operational costs, warehouse automation offers several benefits. It helps in eliminating errors, improves inventory accuracy, enhances productivity and meets rising customer expectations of fast delivery. Automation enables 24/7 warehouse operations while reducing labor costs significantly. Robots can lift heavier weights, work in hazardous conditions and optimize workflow without fatigue. This allows companies to scale up operations efficiently to fulfill increasing customer demand. Adoption of warehouse robotics is growing as they play a vital role in automating processes to gain a competitive edge through warehouse automation. Their ability to streamline warehouse operations presents a lucrative market opportunity over the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the warehouse robotics market is medium. High initial investment required for R&D, manufacturing, marketing and workforce inhibits new companies from entering the market easily. However, technological advancements have lowered the entry barriers to some extent.
Bargaining power of buyers: Buyers have low bargaining power due to the specialized nature of warehouse robots and need for experts to operate them. However, large buyers can negotiate on price and demand additional services.
Bargaining power of suppliers: Suppliers have medium bargaining power due to the availability of component suppliers and possibility of forward integration by large suppliers. Suppliers also differ based on technology, capabilities and certifications.
Threat of new substitutes: Threat of substitutes is medium as manual labor and forklifts can partially fulfill warehouse operations. However, robotics offer improved productivity, efficiency and safety.
Competitive rivalry: Intense due to presence of global tech giants and growing focus of established companies on robotics.

SWOT Analysis
Strength: Increased productivity, efficiency and safety. Ability to operate 24/7 without breaks. Reduce labor costs.
Weakness: High initial investment and maintenance costs. Require expertise to program, handle faults and repairs.
Opportunity: Growth in e-commerce and need for warehouse automation. Expanding applications in different industries.
Threats: Technological obsolescence. Job losses for manual labor.

Key Takeaways
Global Warehouse Robotics Market Demand is expected to witness high growth over the forecast period driven by growing e-commerce, labor costs and need for efficient warehouse management. The Asia Pacific region dominated the market in 2023 and is anticipated to continue its dominance during the forecast period. Countries like China, Japan and South Korea are major manufacturing hubs and early adopters of automation technologies.

Regional analysis: North America also holds significant potential for warehouse robotics with growing focus on warehouse automation from industries and governments in US and Canada. Europe is expected to emerge as another lucrative market driven by high labor costs and emphasis on factory and warehouse automation from German and Nordic machinery companies.

Key players: Key players operating in the warehouse robotics market are Schneider Electric SE, ABB Ltd., Siemens AG, Eaton Corporation, Honeywell International Inc., Rockwell Automation, Inc., UL LLC (Underwriters Laboratories), Emerson Electric Co., General Electric (GE).

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