Pune, Jan. 11, 2023 (GLOBE NEWSWIRE) -- According to Maximize Market Research, the Warehouse Automation System Market worth USD 9.16 Bn by 2029, growing at a 16.5% CAGR. The market is growing thanks to the Demand for e-commerce in warehouses to create new opportunities.
Warehouse Automation System Market Scope and Research Methodology
For estimating the market size both primary and secondary data sources are used. During the research process, government policy, the market environment, the competitive landscape, historical data, current market trends, technological innovation, upcoming technologies, and the technical progress in related industries are all investigated, as per the market risks, opportunities, market barriers, and challenges. To provide final quantitative and qualitative data, all conceivable factors influencing the markets included in the research study were considered, thoroughly examined, validated via primary research, and evaluated. The impact of inflation, economic downturns, changes in regulations and policies, and other variables is considered for top-level markets and sub-segments. In addition to this information, the report includes in-depth inputs and analysis. To calculate the market size and examine global market trends, bottom-up approaches were used. To draw accurate conclusions, data were gathered from a large sample using both primary and secondary research techniques.
Surveys, questionnaire distribution, and phone interviews with business owners, marketing specialists, market leaders, and industry experts were the primary methods employed. To ensure that the conclusions were correct, secondary data was thoroughly compiled from a carefully selected set of sources. There are paid databases, industry journals, white papers, annual reports, product manufacturer and supplier releases, official databases of numerous organizations, and government websites in addition to white papers and annual reports. PESTLE analysis was used to understand various market factors, whereas SWOT analysis was used to understand the strengths and weaknesses of major corporations. As a result, the report investigates the Warehouse Automation System Market in depth.
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Warehouse Automation System Market Overview
Warehouse automation includes all of the hardware, software, people, and processes required to automate warehouse tasks for increased productivity and precision. This could include everything from stock item marking to warehouse data capture, automated storage and recovery, and back-office report generation. Warehouse automation incorporates automated advances that guarantee to increase efficiency massively at the same time, from robots to automated measures.
Warehouse Automation System Market Dynamics
Automation in warehousing provides extreme convenience by lowering overall business costs and reducing product delivery errors. Despite the benefits, 85% of warehouses "still operate manually with no supporting automation," according to DHL, a prominent 3PL company and a significant end-user of warehouse automation solutions. Furthermore, warehouses that use conveyors, sorters, and pick and place solutions, among other (non-automated) equipment, account for 15% of all warehouses. In comparison, only 5% of current warehouses are automated. According to Bank of America, robotic technology will perform 45% of all manufacturing by 2025. Following this trend, large corporations such as Raymond Limited (an Indian textile conglomerate) and Foxconn Technology (a China-based supplier to large technology corporations such as Samsung) have replaced (or plan to replace) 10,000 and 60,000 workers, respectively, by incorporating automated technology into their factories.
These factors had a direct impact on the growing popularity of warehouse robotics. The growing number of warehouses and increasing investments in warehouse automation, combined with global labor cost increases and the availability of scalable technological solutions, have been driving the warehouse automation system market. Despite the adverse commercial leasing climate, prominent logistics brands in the United States, such as DHL, XPO Logistics, and NFI Logistics, are investing in growth activities.
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Warehouse Automation System Market Regional Insights
North America is expected to hold Significant Share by 2029. The primary reason for the increase in robots in warehouses and distribution centers in the United States is the growth in e-commerce. In addition to advancements in technology that have made robots better and smaller, lower costs and a shortage of labor in some places further help the market to grow.
In addition, large corporations with a large number of warehouses and distribution centers use acquisition strategies to reduce labor costs and increase profitability. Amazon, for example, has installed more than 200,000 mobile robots that work inside its warehouse network alongside hundreds of thousands of human workers in the United States in 2020. This robot army has assisted the company in meeting its ever-increasing promises of quick deliveries to Amazon Prime members.
| Market Size in 2021 | USD 2.7 Bn. |
| Market Size in 2029 | USD 9.16 Bn. |
| CAGR | 16.5 % (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 213 |
| No. of Tables | 110 |
| No. of Charts and Figures | 112 |
| Segment Covered | Component, Application, End-use |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Warehouse Automation System Market Key Competitors:
- Dematic
- Vanderlande
- Knapp
- Ssi Schaefer
- Honeywell Intelligrated
- Daifuku
- Witron
- Mhs Global
- Twg Logistics
- Swisslog
- Bastian Solution
- Symbotic
- Korber
- Murata Machinery
- Fortna
- Fives
- System Logistics
- Savoye
- Gebhardt
- Kadex Mlog.
Key questions answered in the Warehouse Automation System Market are:
- What are the technological innovations in Warehouse Automation System Market?
- What are the factors driving the growth of the Warehouse Automation System Market?
- Which technology insight dominated the Warehouse Automation System Market in 2021?
- How has COVID-19 affected the growth of the Warehouse Automation System Market?
- What is the growth rate of the Warehouse Automation System Market during the forecast period?
- What are the trends of the Asia-Pacific region in the Warehouse Automation System Market?
- Who are the market leaders in Warehouse Automation Systems in the North American region?
- Which deployment mode led the Warehouse Automation System Market in 2021?
- Who are the key players in the Warehouse Automation System Market?
- What are the factors restraining the growth of the Warehouse Automation System Market?
- Which region held the largest market share in Warehouse Automation System Market?
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Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Component, Application, End-use, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Hyper Automation Market: The Hyper Automation Market size was valued at US$ 8.24 Bn. in 2021 and the total revenue is expected to grow at 18.2% from 2022 to 2029, reaching nearly US$ 31.4 Bn. The Growing Use Of Advanced Hyper Automation To Gather Important Insights Is A Major Driver Of Market Growth.
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