According to Goldstein Research, “Innovations in robotics technology and rising expenditures over research and development (R&D) are the key factors driving the growth of global warehouse robots market”
Interest of major vendors in the field of robotics is significantly increasing. Huge funding is on the rise over the development than ever before from market giants, governments and venture capitalists. Low cost of sensors and faster processing technologies contributed to the growth of global warehouse robots market.
Global warehouse robots market is segmented on the basis of product types into fixed robots, mobile robots, gantry robots and stationery articulated robots. Mobile robots are the important segment as they are widely used in advanced retail warehouses for distribution and storage of products. Rising adoption of warehouse robots by online retailers and automotive industries are some of the factors that are expected to drive the growth of warehouse robots market.
The global warehouse robots market accounted for more than USD 12.0 billion in 2016 and projected to surpass USD 22.1 billion by the end of 2024. Further, the market is anticipated to expand at compound annual growth rate of 7.4% over the forecast period i.e. 2016-2024. Geographically, Asia-Pacific is the dominating region in global warehouse robots market, with China and Japan are the leaders in implementation of warehouse robots. Asia-Pacific region is closely followed by the North America with more than 25.0% share in global warehouse robot market and the market is expected to swell at CAGR of 3.3% over the forecast period.
Technology Innovation and Huge R&D expenditures: Major Impel
Rising number of startups and acquisitions by market giants such as Google and Amazon are the factors driving the growth of warehouse robotics market. Immense developments of warehouse robots including better path planning, high-speed wireless connections and longer lasting batteries among other innovations led to rising adoption of warehouse robotics to increase efficiency and productivity of warehouses and businesses.
“Global Warehouse Robots Market Outlook 2024” contains detailed overview of the global warehouse robots market in terms of market segmentation by product, by application types, by end-users type. Further, for the in-depth analysis, global warehouse robots market report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes provides competitive outlook of some of the major players of the global warehouse robots market which includes profiling of companies such as ABB Ltd., Fanuc Corp., Kuka AG, Yaskawa Electric Corp., Amazon Inc., ATS Automation Tooling Systems Inc., Honeywell International Inc., Omron Corp., Fetch Robotics Inc. etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global warehouse robots market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.
Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Backed up by reliable research and impactful statistics, our business solutions empower our clients to grow at a fast pace despite unsettling fluctuations in the market. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.