Dublin, March 24, 2022 (GLOBE NEWSWIRE) -- The "Logistics Robot Market - Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)" report has been added to ResearchAndMarkets.com's offering.
Global logistics robot market was worth US$807.2 Mn in 2017 and is expected to be worth US$12,739.1 Mn by 2025. Between the forecast years of 2021 and 2025, the market for logistics robots is expected to register a CAGR of 23.7%.
The logistics robot market has witnessed a surge in demand across all regions as they have become indispensable to wide ranging business operations. Logistics robots automate the processes of storing and moving goods across the supply chain, offering greater levels of uptime, more productive hours, and less scope of manual error, thus providing greater productivity to end users.
These factors rapidly increased the demand for logistic robots by 50% over 2020 to 2021 by revenue. In the coming years, preference for automation and autonomy in business processes is projected to sustain the demand for logistic robots across the global market.
Flourishing E-Commerce Industry Propels Logistics Robot Market to Rapid Maturity
Today's consumers thrive on ease, convenience, and fast delivery of goods and services. As a result, virtually all retailers are forced to expedite the transition to digitalization. In terms of order fulfilment, retailers are turning to automation and robotic solutions to keep up with delivery timelines to get a real-time view of their operations. This has swelled the demand for logistics robots across the global logistics robot market. Over the forecast period, the e-commerce industry is expected to grow at the fastest rate.
With the Highest Market Share, North America Emerges as Regional Leader
North America observed the highest market share across the global logistics robot market in 2020. The reasons for this include rising labor costs, robust adoption of robotic technologies by organizations in this region, growing emphasis on automating logistic processes, and the potential of logistic robots to reduce operational costs. Over the study period, the APAC logistics robot market is projected to expand at the fastest rate, however, high set-up costs can restrict market expansion.
Key Insights and Trends in Global Logistics Robot Market
- Global logistics robot market to create an incremental opportunity of more than US$9 Mn between 2021 and 2025.
- Automated guided vehicles segment held a lion's share of 42% in 2020 and the segment will continue to lead, predicts report.
- E-commerce sector is expected to create an incremental opportunity of US$2,751.5 Mn during the forecast period. The sector will remain the dominant driving factor for the global logistics robot market.
- Asia Pacific logistics robot market expected to grow at 26.2% in the coming five years as expansion of e-commerce skyrockets with millennials and generation Z spending habits.
- Global logistics robot market to be fragmented with small-medium size and start-up companies dictating competitive landscape. The big companies are entering in the market through acquisitions of smaller players.
Prominent vendors across the global logistics robot market include
- Amazon Robotics (formerly Kiva Systems)
- Locus Robotics
- Fetch Robotics
- inVia Robotics, Inc.
- 6 River Systems
- IAM Robotics
- Geek+
- ForwardX Robotics
- GreyOrange
- Rethink Robotics GmbH
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Shipment Analysis, 2017 - 2025
4. Price Trend Analysis
5. Global Logistics Robots Market Outlook, 2017 - 2025
6. North America Logistics Robots Market Outlook, 2017 - 2025
7. Europe Logistics Robots Market Outlook, 2017 - 2025
8. Asia Pacific Logistics Robots Market Outlook, 2017 - 2025
9. Latin America Logistics Robots Market Outlook, 2017 - 2025
10. Middle East & Africa Logistics Robots Market Outlook, 2017 - 2025
11. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/mdzbdr
