Businesses incorporating automated technology to meet production requirements during coronavirus are anticipated to provide growth opportunities for the global warehouse automation market.
Warehouse automation is the process of streamlining business warehouse business operations with automated technology. Warehouse automation provide numerous growth opportunities to the companies as they reap benefits like accommodating fluctuating demand faster, improve operation efficiency, cut labor costs, bring supply chain visibility , and others. As a result, the global warehouse automation market revenue growth is projected to 622.2 million by 2028, advancing at a CAGR of 27%.
Additionally, other factors like storage & retrieval systems, improved customer service are driving the global warehouse automation growth. Warehouse automation is being greatly used to minimize the supply chain challenges during covid-19.
Automation of warehouses facilitates identification and streamlining of process-oriented and time-consuming tasks. Automatic assembly machines and industrial robots are some examples of warehouse automation. Warehouses using GTP systems enter or retrieving orders from a central database can also be classed under warehouse automation.
The recent sales and adoption trends in warehousing state that automation is the future of warehousing. The field is expected to undergo various future developments owing to tremendous growth opportunities. Warehouse management is increasingly becoming integral in manufacturing to substitute manual intervention in the forthcoming times.
Market players to stay ahead of the competitive landscape are racing against each other to provide one-on-one warehouse automation solutions to attract the customers.
The new players are providing advanced solutions at best price thereby disrupting the established players. However, to the pandemic and the post-pandemic world has offered growth opportunities to the emerging as well as established players.
Covid-19 has put tremendous pressure on supply chains which has fastened technology adoption in warehouses both in terms of automation and autonomy. These factors are anticipated to be growth opportunities for the global warehouse automation market.
Adroit Market Research report gives exclusive insights about the evolving global warehouse automation market and the implications for investors. The warehouse automation fundamentals are discussed in great detail in the report to help market players understand industry attractiveness and investment opportunities. The expansion opportunities, activities by notable warehouse automation leaders, market expected growth, GDP, CAGR by individual segment and region is explained in the report. The report gives a better understanding of highest growth pockets of market that are critical for both private equity investors and strategic players.
Moreover, the report gives a detailed view of the competitive landscape, company portfolios, geographical footprint, covid-19 recovery strategies, expansion plans and more of the market players is given in the report. The forecasts from 2021 to 2028, with base year 2020, and historic years 2018-2020 are given in the global warehouse automation market report.
Leading firms, technology innovators, researchers are working on inventing various solutions meeting the demand for warehouse automation. With technology and solutions incorporated obtained from research study are helping the R&D experts and firms address challenges in the field. Moreover, ethics and security risks in the market are also analyzed by these firms. T
his is helping them stay ahead of the competition thereby drive the global warehouse automation market. Reducing labor costs, mitigating health concerns due to covid, and using automation as a skilled substitute to unskilled labor are the key focus areas of market players and innovators in warehousing.
Depending on different approaches the market has been classified on the basis of type segment. The mobile robots and warehouse management systems accounted for maximum market share in the global warehouse automation market. The key factors such as operational efficiency, cost-effectiveness, supply chain visibility, optimization of supply chain operations, and huge return on investment are majorly influencing market growth of these segments.
Depending on different approaches the market has been classified on the basis of end user segment. The healthcare and merchandise segments held the highest CAGR growth rate and are expected to witness stable growth in the forecast years. Some key influencers are growing demand of drug developments, ecommerce expansions, and food and beverage sector growth.
North America is the most prominent growth hotspots, dominating the warehouse automation and software integration in warehousing. This is because there is presence of large e-commerce, pharmaceutical, biotechnology, defense manufacturing, and other firms in the region. The region is undergoing warehouse automation to meet the labor shortage challenges, growing demand, and meet the requirements of changing warehouse needs.
The APAC and MEA regions are also experiencing positive growth in the global warehouse automation market due to rising ecommerce firms, and boom in production in many other industries.
The key innovator and leaders in the global warehouse automation market are Wynright, Yaskawa, SSI Schaefer, Omron, Magazino, Locus Robotics, Kuka, IAM Robotics, Honeywell, Geodis, FANUC, Fetch Robotics, Automation Tooling Systems, Amazon Robotics, and ABB among all other local and global players.
Key Segments of the Global Warehouse Automation Market
Type Overview, 2018-2028 (USD Million)
• Conveyer Systems
• Advanced Storage & Retrieval Systems
• Mobile Robots
• Warehouse Management Systems
End User Overview, 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa