Warehouse Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Albany, NY -- (SBWIRE) -- 05/14/2019 -- According to a new research report published by Transparency Market Research (TMR) , the global warehouse robotics market is expected to reach value of US$ 9,579.3 Mn by 2027, expanding at a CAGR of 12.0% from 2019 to 2027. According to the report, the global market is likely to continue to be influenced by a range of macroeconomic and market-specific factors in the next few years. In terms of demand, Asia Pacific is projected to continue to lead the global market, with the market in the region expanding at a CAGR of 13.3% between 2019 and 2027.
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The global warehouse robotics market has witnessed strong growth over the last decade. One of the major drivers of the market is rising demand for warehouse automation from the e-commerce industry led by intense competition prevailing among key players in the industry. Robots have been leveraged in this industry for a long time and they have made the human work easier by operating large industrial settings. Robots in factories have typically been large-sized, caged devices performing repetitive, dangerous works in lieu of humans. Robots are used in factories to help workers perform their tasks by tracking them and correcting them in case of any deviation from the task. Furthermore, robotics and automation allow warehouses to have 24×7 operations. These factors are anticipated to propel the global warehouse robotics market during the forecast period.
The global warehouse robotics market has been broadly segmented in terms of robot type, application, end-use industry, and region. Based on robot type, the market has been divided into ASRS, articulated robot, gantry cartesian robot, collaborative robot, SCARA, and others. The articulated robot segment was dominant, holding 31.66% share of the global market in 2018. On the other hand, the collaborative robot segment is anticipated to expand at the maximum CAGR of 13.5% during the forecast period.
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This growth can be attributed to superior features of collaborative robots such as low cost, better performance, mobile friendlies, and semi-autonomous functionality. Also, collaborative robots are light in weight. They can operate in fast-paced environments, wherein they can be easily deployed for multiple applications.
With the objective of business expansion, several players are expanding their offerings through strategic mergers and acquisitions as well as partnerships. Furthermore, an increasing number of players are spending significantly on R&D activities to develop innovative and technologically advanced warehouse robotics solutions. Some of the prominent players operating in the global warehouse robotics market are ABB, Amazon Robotics LLC, ATS Automation Tooling Systems Inc., FANUC America Corporation, Fetch Robotics, Inc., KUKA AG, OMRON CORPORATION, SSI SCHAEFER, Wynright Corporation, and YASKAWA.