New York, United States , May 16, 2023 (GLOBE NEWSWIRE) -- The Global Warehouse Automation Market Size is to grow from USD 16.43 billion in 2022 to USD 67.05 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period.
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Warehouse automation is the process of using technology to streamline and optimize the various tasks involved in managing a warehouse. This includes using automated systems to manage inventory, transport goods, and optimize warehouse space. Common tools used in warehouse automation include robots, conveyors, automated guided vehicles (AGVs), and warehouse management software (WMS). Warehouse automation aims to increase efficiency, accuracy, and productivity while minimizing labor costs and errors. As e-commerce continues to grow, the need for efficient warehouse automation has become increasingly important to meet the demands of online retail and improve the overall customer experience.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on ''Global Warehouse Automation Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware and Software), By Application (Automotive, Food and beverage, E-Commerce, Pharmaceutical, and Others), By End-User (Retailers and Manufacturers & Distributors), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.'' Get Detailed Report Description Here.
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The software segment is expected to grow at a CAGR of 15.7% during the forecast period
Based on components, the global warehouse automation market is segmented into hardware and software. The software segment is expected to grow due to the increasing adoption of automation technologies in warehouses and distribution centers have led to a growing need for software solutions to manage and optimize these systems. Warehouse management software, inventory management software, and transportation management software are among the software solutions used in warehouse automation. Additionally, the increasing use of advanced technologies such as artificial intelligence, machine learning, and the Internet of Things is driving the need for more sophisticated software solutions.
The manufacturers & distributors held the largest market share with more than 70.5% in 2022
Based on end-user, the global warehouse automation market is segmented into retailers and manufacturers & distributors. This segment includes businesses operating in industries such as automotive, pharmaceuticals, and aerospace, which require high levels of automation in their warehouse and distribution operations. To handle complex supply chains and manage large volumes of inventory efficiently, warehouse automation solutions are becoming increasingly important. Additionally, the manufacturers and distributors segment has been quick to adopt automation technologies to reduce labor costs and improve operational efficiency. With the continued growth of e-commerce and the need for efficient supply chain management, the manufacturers and distributors segment continue dominant position in the warehouse automation market
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Asia-Pacific is predicted to grow at a higher CAGR of around 16.3% over the projected period.
Based on region, the Asia-Pacific region is expected to experience significant growth in the warehouse automation market due to several factors. The region is home to some of the fastest-growing e-commerce markets globally, such as China, India, and Southeast Asia, which are driving the adoption of warehouse automation technologies. Additionally, the increasing demand for automation solutions to improve efficiency, reduce labor costs, and ensure compliance with safety regulations is also contributing to the growth of the market. The availability of low-cost labor in the region has traditionally been a barrier to automation adoption, but the trend is changing as the cost of automation continues to decline. With these factors driving growth, the Asia-Pacific region is expected to be a key player in the warehouse automation market in the coming years.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global warehouse automation market include Dematic Corporation, Honeywell International Inc., KUKA AG, KNAPP AG, Daifuku Co. Ltd., Murata Machinery Ltd., Bastian Solutions LLC, Swisslog Holding AG, Vanderlande Industries BV, BEUMER Group GmbH & Co. KG, SSI Schaefer Group, Fives Intralogistics Corp., Mecalux SA, TGW Logistics Group GmbH, Siemens AG, Amazon Robotics LLC, GreyOrange Pte. Ltd., Fetch Robotics, Inc., Locus Robotics, and RightHand Robotics, Inc.
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