New York, March 22, 2023 (GLOBE NEWSWIRE) -- According to a report published by Next Move Strategy Consulting, the global Warehouse Automation Market generated USD 19.88 billion in 2022, and is projected to reach USD 54.60 billion by 2030, witnessing a CAGR of 12.6% from 2023 to 2030. The research offers a detailed analysis regarding drivers, restraints, and opportunities to highlight the changing market dynamics. Moreover, the research provides an extensive analysis of major segments and their subsegments to determine fastest-growing and highest revenue-generating segments.
Equipping the extensive analysis of each and every aspect of the market in 325 pages, accompanied by 226 tables and 185 figures, the report aims to become a source of guidance for industry players, investors, and startups as they device strategies for next few years to achieve sustainable growth. Moreover, the research outlines the COVID-19 analysis to highlight impact on the global warehouse automation market share.
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| Report Coverage | Details |
| Forecast Period | 2023–2030 |
| Base Year | 2022 |
| Market Size in 2022 | USD 19.88 Billion |
| Market Size in 2030 | USD 54.60 Billion |
| CAGR | 12.6% |
| No. of Pages | 325 |
| Tables | 226 |
| Figures | 185 |
| Segments covered | Component, Type, Function, Industry Vertical, and Region |
| Drivers | Rise in adoption of robotics in warehousing |
| Implementation of advanced technology in warehouses | |
| Opportunities | Emergence of Industry 4.0 |
The report offers a comprehensive analysis of the warehouse automation market dynamics based on drivers, restraining factors, and opportunities. Technological advancements in warehouses such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT), which optimizes storage, tracks inventory levels, and predicts future demand has accelerated growth of the warehouse automation market. However, high cost, complexity, and technical expertise required for implementation and maintenance of automated systems restrain the market growth.
Lead Analyst for ICT & Media at Next Move Strategy Consulting, stated “emergence of Industry 4.0 that focuses on automation, interconnectivity, real-time data, and machine learning is expected to create new opportunities for players that operate in the warehouse automation market.”
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North America accounted for the highest share in 2022, and is expected to dominate the warehouse automation market throughout the forecast period. This is attributed to factors such as advancements in technology such as artificial intelligence & machine learning, need for improved efficiency & productivity, along with increase in availability and affordability of automated systems. Asia-Pacific is estimated to grow steadily during the forecast period, owing to various government initiatives and the significant presence of Japan, which is the largest exporter of robots globally. This indicates an increasing trend for automation technologies in the manufacturing and logistics sectors of the country, thereby boosting market growth in this region.
The research offers an analysis of each region and its countries based on segments and their subsegments to outline steps to be taken to consolidate presence in the warehouse automation industry. This analysis is also helpful in determining highest-revenue generating and fastest-growing segments and taking the next steps accordingly.
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The report offers an extensive analysis of the competitive landscape of the global warehouse automation market. Some of the major players in manufacturing of warehouse automation include Honeywell International Inc., Kion Group, SSI Schaefer, Vanderlande Industries, Daifuku, Omron Corporation, Schneider Electric, ABB Ltd, TGW Logistic Group, Toshiba Corporation, Knapp AG, Locus Robotics, Yaskawa Electric Corporation, Kuka AG, and Material Handling Systems Inc.
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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analyzed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, however, what makes Next Move different is its top-quality research and the obsession to turn raw data into knowledge information by dissecting every bit of it. It also provides fact-based research recommendation, supported by the information collected from over 500 million websites, paid databases, industrial journals, and one-on-one consultations with industry experts across a diverse range of industrial sectors. High-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enable them to move beyond time and have competitive edge in the industry.
We have been providing services to over 1,000 customers globally, with 90% of the Fortune 500 companies, over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or industry. We provide one of the industry’s best quality syndicate as well as custom research reports, across 10 different industry verticals. We are committed to delivering high quality research solutions in accordance to your business needs. Our industry standard delivery solutions range from pre-consultation to after-sales services to provide an excellent client experience and ensure right strategic decision making for businesses.
