The global warehouse robotics market is projected to reach $15,795.0 million by 2030, growing at a compound annual growth rate (CAGR) of 13.3% during the forecast period from 2022 to 2030. This information comes from a market research report released by Report Ocean, which analyzed over 1,00000 published and forthcoming reports per year.
Warehouse robotics refers to the automation of warehouse processes using robotic systems, software, and automated systems. These devices are used to transport materials, perform various tasks, and streamline/automate warehouse processes. They have gained prominence in the supply chain, distribution center, and warehouse management circles as they play a critical role in warehouse automation.
Some of the functions performed by warehouse robots include pallet movers, barcode scanners, inventory data management, floor cleaners, pallet builders, pickers, and back-office functions. These robots enable companies to improve order fulfillment and inventory management, while also allowing human workers to focus on more complex tasks.
Factors influencing the growth of the warehouse robotics market include the increasing demand for automation in the competitive e-commerce industry, as well as the growing levels of automation and industrialization worldwide. However, challenges such as the initial higher costs, lack of awareness, concerns about job security, and difficulties in interacting with robots may slow down the market growth.
The COVID-19 pandemic also had an impact on the global warehouse robotics market. Many companies had to temporarily halt their operations, leading to a disruption in revenue flow. The lockdowns and restrictions on industrial activities also affected the market. However, as industries recover, there are opportunities for the warehouse robotics market to grow.
In terms of regional insights, Asia-Pacific held a dominant position in 2021 and is expected to grow rapidly in the forecast period. This growth is driven by factors such as the growth of online retail shopping, the development of mobile robots in China, a high attrition rate of warehouse workers, and increased investments in robotics deployment.
Overall, the warehouse robotics market is poised for significant growth in the coming years as companies seek to automate their warehouse processes and improve operational efficiency.
Sources:
– Report Ocean (https://reportocean.com/)
– Warehouse Robotics Market Research Report Scenario (https://reportocean.com/industry-verticals/sample-request?report_id=BWCC470)