Dublin, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The "Warehouse Automation Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global warehouse automation market has demonstrated remarkable growth, ascending from $17.32 billion in 2022 to $19.78 billion in 2023, with a compelling Compound Annual Growth Rate (CAGR) of 14.2%. Forecasts indicate further expansion, with projections envisioning the market to soar to $33.59 billion by 2027, maintaining a robust CAGR of 14.2%.
In-Depth Insights for Informed Strategies
The warehouse automation market research report is a pivotal addition to an expansive collection of reports, offering comprehensive statistics and analysis. Covering global market size, regional distribution, competitor insights with market shares, intricate segmentation, trends, opportunities, and vital data, this report equips businesses with a comprehensive understanding of the current and future industry landscapes.
Empowering Innovation through Research and Development
A significant trend permeating the warehouse automation sector is the escalated focus on research and development. Industry players are increasingly investing in R&D facilities to foster the development of cutting-edge products, gaining a competitive edge by introducing technologically advanced solutions boasting enhanced operational capabilities. For instance, Honeywell International Inc., a prominent conglomerate, announced plans in November 2021 to establish an advanced R&D testing facility in the Czech Republic, specifically for Honeywell Intelligrated warehouse automation. This strategic move aligns with the burgeoning demand for secure, accurate supply chain technologies, facilitating the enhancement of efficiency, accuracy, and throughput within warehouses and distribution centers.
Strategic Acquisition to Drive Innovation
In a strategic acquisition in July 2021, Zebra Technologies acquired Fetch Robotics for $290 million. This initiative has significantly bolstered Zebra Technologies' enterprise asset intelligence vision and strengthened its presence in intelligent industrial automation. By embracing new methodologies to enhance workflows and empower customers in automated and data-driven environments, this acquisition has paved the way for the future of warehouse automation.
Regional Dynamics and Future Prospects
The warehouse automation market demonstrated its prominence in North America in 2022. Notably, Asia-Pacific is anticipated to emerge as the fastest-growing region during the forecast period. The comprehensive report encapsulates regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
E-commerce Surge Catalyzes Market Momentum
The upsurge in e-commerce sales emerges as a driving force behind the warehouse automation market's growth. Retailers grappling with escalating order volumes and the demand for efficient last-mile deliveries are turning to warehouse automation as a competitive advantage. As e-commerce is projected to constitute 22% of global retail sales in 2023, an increase from 14.1% in 2019 according to the Robotic Business Review, the sector's growth holds immense potential. Prologis' study emphasizes that warehouse automation is expected to elevate e-commerce real estate sector revenues by 10% to 20% per square foot by 2021. This underscores the profound influence of the e-commerce sector on warehouse automation market growth.
Comprehensive Market Scope and Value
The warehouse automation market encompasses entities offering solutions for operational efficiency, productivity enhancement, labor cost reduction, and seamless warehouse processes. The market value includes not only the revenues from services provided but also the value of associated goods within the service offering.
Unlocking Strategic Advantages with the Report
Designed to offer a global outlook, the report is a critical asset for navigating the complex warehouse automation market. Armed with insights into the pandemic's repercussions, geopolitical disruptions, and impacts on agriculture, energy, and mineral commodity supply, businesses are empowered to strategize based on localized data and analysis. The report facilitates identifying growth segments, outperforming competitors using forecast data, understanding customer preferences through the latest market shares, and benchmarking performance.
Critical Questions Addressed for Informed Decisions
Delving into market characteristics, size, growth, segmentation, and regional distribution, the report uncovers competitive landscapes, market trends, and strategies. By answering essential questions about the most significant and rapidly expanding warehouse automation markets, their interplay with economies and demographics, and the driving forces of market evolution, the report offers an authoritative resource for making well-informed decisions.
Navigating the Future of Warehouse Automation
As the warehouse automation market forges ahead amidst challenges and opportunities, this report serves as an invaluable guide. Armed with insights, businesses can capitalize on growth prospects and proactively navigate the evolving landscape, gaining a competitive edge in this dynamic sector.
Major players in the Warehouse Automation market are
- Daifuku Co. Ltd.
- Honeywell Intelligrated
- KUKA Group
- KNAPP Group
- Omron Corporation
- ABB Ltd
- Kardex Group
- SSI Schaefer AG
- Locus Robotics
- Dematic Group (Kion Group AG)
- Vanderlande Industries BV
- Godrej Consoveyo Logistics Automation
- Space Magnum Equipment
- Toyota Industries
- Yaskawa Electric Corp Inc
- WITRON Logistik + Informatik GmbH
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $19.78 billion |
| Forecasted Market Value (USD) by 2027 | $33.59 billion |
| Compound Annual Growth Rate | 14.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/qmxvab
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