Dublin, March 21, 2024 (GLOBE NEWSWIRE) -- The "Piece Picking Robots Market Report by Robot Type (Collaborative, Mobile), End User (Pharmaceutical, Retail/Warehousing/Distribution Centers/Logistics Centers, and Others), and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global piece picking robots market size reached US$ 652 million in 2023. The market is projected to reach US$ 31.93 billion by 2032, exhibiting a growth rate (CAGR) of 54.09% during 2023-2032. The emerging trend of industrial automation, escalating demand to enhance the efficiency of the logistics and supply chain, and considerable rise in the labor costs represent some of the key factors driving the market. 
The global market is primarily driven by the emerging trend of industrial automation, along with the advent of industry 4.0. This can be attributed to the growing need to minimize travel distance, maximize the use of space, minimize pick errors, and minimize injuries among retail workers. In line with this, the escalating demand to enhance the efficiency of the logistics and supply chain due to significant growth in the e-commerce industry is creating lucrative growth opportunities in the market.
Also, the rising investments in the development of upstream handling of products in e-commerce infrastructure, smaller format stores, and omnichannel fulfillment are providing an impetus to the market. Moreover, continual technological advancements in the production of robotic arms and new software tools to handle a wider range of items and operate in more complex environments are creating a positive outlook for the market.
Besides this, the growing integration of machine learning (ML), artificial intelligence (AI), and cloud data management systems to shorten development cycles and offer real-time visibility is impacting the market positively. The market is further fueled by the considerable rise in the labor costs on the global level. Some of the other factors contributing to the market include rapid industrialization, inflating disposable income levels, increasing volumes of orders and shipments, and numerous innovations in robotics.
Key Market Segmentation
The report provides an analysis of the key trends in each segment of the global piece picking robots market, along with forecasts at the global, regional, and country level from 2023-2032. The report has categorized the market based on robot type and end user.
Robot Type Insights:
- Collaborative
- Mobile
According to the report, collaborative represented the largest segment.
End User Insights:
- Pharmaceutical
- Retail/Warehousing/Distribution Centers/Logistics Centers
- Others
Regional Insights:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
According to the report, North America was the largest market for piece picking robots. Some of the factors driving the North America piece picking robots market include rapid industrialization, inflating disposable income levels, significant growth in the e-commerce industry, etc.
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global piece picking robots market. Detailed profiles of all major companies have also been provided. Some of the companies covered include:
- Berkshire Grey Inc.
- Dematic (Kion Group AG)
- Fritz Schafer GmbH
- Hand Plus Robotics Pte. Ltd.
- Kindred Systems Inc. (Ocado Group)
- Knapp AG
- Nimble Robotics Inc.
- Osaro Inc.
- Righthand Robotics Inc.
- Swisslog Holding AG (kuka AG)
- Universal Robots A/S (Teradyne Inc.)
- XYZ Robotics Inc.
Key Questions Answered:
- How has the global piece picking robots market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global piece picking robots market?
- What are the key regional markets?
- Which countries represent the most attractive piece picking robots markets?
- What is the breakup of the market based on the robot type?
- What is the breakup of the market based on the end user?
- What is the competitive structure of the global piece picking robots market?
- Who are the key players/companies in the global piece picking robots market?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $652 Million |
| Forecasted Market Value (USD) by 2032 | $3.19 Billion |
| Compound Annual Growth Rate | 54% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/3r0yqc
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