Dublin, March 14, 2023 (GLOBE NEWSWIRE) -- The "Warehouse Automation Market by Component, Type, Function, and Industry Vertical - Global Opportunity Analysis and Industry Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
Warehouse Automation Market size was valued at USD 19.88 billion in 2022, and is projected to reach USD 54.60 billion by 2030 at a CAGR of 10.9% during the forecast period.
The warehouse industry is increasingly adopting robotics technology to improve efficiency and productivity. Robots can automate repetitive and physically demanding tasks, and reduce labor costs, along with improving accuracy of workers. They can also handle various warehouse activities, improve safety, and work around the clock, which propels growth of the warehouse automation market.
Rise in demand for automated warehousing solutions, owing to growth of e-commerce and online retail also propels the market growth. Solutions, such as warehouse management systems and storage & retrieval systems, enhance productivity & accuracy, enable real-time inventory management, as well as improve supply chain operations. Thereby, contributing toward growth of the warehouse automation market.
However, high cost and complexity of automated systems limit their adoption in warehouses, which, in turn, hinders growth of the warehouse automation market.
On the contrary, emergence of Industry 4.0, along with integration of smart technologies such as artificial intelligence (AI), machine learning (ML), and internet of things (IoT) in warehouses creates ample growth opportunities for market players in the industry.
Market Dynamics
Drivers
- Rising Adoption of Robotics in Warehousing
- Growing E-Commerce and Online Retail Industry
- Implementation of Advanced Technology
Restraints
- High Cost and Complexity Associated With the Setup of Warehouse Automation
Opportunities
- Emergence of Industry 4.0
Segment Overview
The global warehouse automation market is segmented on the basis of component, type, function, industry vertical, and region.
- By component, the market is classified into hardware and software & services.
- By type, the market is segmented into AGV/AMR, AS/RS-storage & retrieval, autonomous identification & data capture, conveyors & sorting systems, MRO services, order picking, overhead systems, palletizing & depalletizing, vision inspection equipment, and WMS/WES/WCS.
- By function, the market is categorized into inbound, picking, and outbound.
- By industry vertical, the market is categorized into transportation & logistics, apparel & sports, e-commerce, foods & beverages, retail & general merchandise, grocery, pharmaceuticals, consumer electronics, and others.
- By region, the market is segmented into North America, Europe, Asia-Pacific, and RoW.
Regional Analysis
North America is projected to hold a dominant share of the market by 2030
North America dominates the global warehouse automation industry, and is potently expected to remain dominant in the market throughout the forecast period. This is attributed to factors such as advancements in technology such as artificial intelligence and machine learning, demand for improved efficiency & productivity, along with rise in availability and affordability of automated systems across this region.
In addition, the U.S. is a technologically advanced country in North America. According to the International Federation of Robotics, in 2021, in the U.S., robot density in the car industry ranked 7th, globally. In the U.S. automotive industry, 1,287 robots were installed per 10,000 employees in 2021. The automotive industry utilizes robots in various applications in manufacturing vehicles including order picking and product handling in warehouses, which in turn, propels growth of the warehouse automation market.
Recent Developments
December 2022
ABB launched ABB SWIFT CRB 1300 industrial collaborative robot. The SWIFTI CRB 1300 is suitable for a wide variety of production and product-handling applications ranging from machine tending and palletizing to pick-and-place operations in warehouses.
September 2022
Honeywell launched a new robotic depalletizer to help the warehouse to boost productivity by minimizing human labor.
April 2022
Vanderlande launched an advanced automated picking robot to its Smart Item Robotics (SIR) warehouse solution portfolio. This robot featured gripping technology along with sophisticated vision and control suitable for warehouses and distribution centers handling general merchandise products.
KEY BENEFITS
- The warehouse automation market report provides quantitative analysis of the current market and estimations through 2023-2030, which assists in identifying the prevailing market opportunities.
- The study comprises a deep dive analysis of the warehouse automation market including current and future trends to depict prevalent investment pockets.
- Information related to key drivers, restraints, and opportunities and their impact on the warehouse automation market is provided in the report.
- Competitive analysis of the market players, along with their market share in the warehouse automation market is provided in the report.
- SWOT analysis and Porter's Five Forces model are elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
Key Topics Covered:
1. Introduction
2. Warehouse Automation Market - Executive Summary
3. Market Overview
4. Market Share Analysis
5. Global Warehouse Automation Market, by Component
6. Global Warehouse Automation Market, by Type
7. Global Warehouse Automation Market, by Function
8. Global Warehouse Automation Market, by Industry Vertical
9. Global Warehouse Automation Market, by Region
10. Company Profiles
A selection of companies mentioned in this report includes
- Honeywell International Inc.
- Kion AG
- Vanderlande Industries Inc
- SSI Schaefer (Pvt)
- Daifuku Co. Ltd
- Material Handling Systems Global
- Omron Corporation
- Schneider Electric Se
- ABB
- TGW Logistics Group
- Toshiba Corporation
- Knapp AG
- Locus Robotics
- Yaskawa Electric Corporation
- Kuka AG
For more information about this report visit https://www.researchandmarkets.com/r/cotu1n
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