NOIDA, India, Nov. 15, 2022 /PRNewswire/ — According to a new report published by UnivDatos Markets Insights, the Warehouse Automation Market is expected to reach USD 47 billion in 2027, growing at a CAGR of 12% from 2021-2027. The analysis has been segmented into Component (Hardware {Mobile Robots, Automated Storage and Retrieval Systems, e-palletizing/Palletizing Systems, and Others}, Software, and Services); Industry (Automotive, Manufacturing, Food & Beverages, Aerospace, Retail, and Others; Region/Country.
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The Warehouse Automation market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Warehouse Automation market. The Warehouse Automation market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Warehouse Automation market at the global and regional levels.
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Market Overview
Warehouse automation is the process of automating the movement of inventory into, within, and out of warehouses to customers with minimal human assistance. As a result, many companies are looking at automation for ways to increase efficiency, optimize productivity, and reduce costs. With the increasing demand for automation and material handling equipment in various process industries coupled with high labor costs and the advent of industry 4.0, the global warehouse automation market is expected to witness an exponential CAGR of ~12% during the forecast period (2021–2027). In addition, the rapidly growing e-commerce industry and rising awareness regarding enhancing safety at workplaces are some other factors responsible for the market growth.
Some of the major players operating in the market include Daifuku Co. Ltd., JBT Corporation, KION GROUP AG, Jungheinrich AG, KNAPP Group, Toyota Industries Corporation, KUKA AG, Oceaneering International Inc., Fritz SCHÄFER GmbH & Co KG, and Scott Technology Limited.
COVID-19 Impact
COVID-19 slowed the overall growth of various industries including manufacturing, and automotive, and disrupted the supply chain and logistics sector across geographies. The countries were forced to implement lockdowns during the first half of 2020. The manufacturing industry witnessed a significant drop in earnings and income as a result of the COVID-19 pandemic. Business operations saw a large reduction in workforce, resulting in an overall loss in manufacturing activity. However, to tackle the challenges of a restricted workforce amid the lockdowns and reduce the chances of transmission of COVID-19 in labor-intensive industries, major stakeholders in the ecosystem started integrating automation technologies systems and solutions in warehouses, to increase operational efficiency and meet their respective growth targets.
The global Warehouse Automation market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- Based on component, the market has been categorized into hardware, software, and service. Amongst these, the hardware category held a significant market share in 2020 and is expected to witness strong growth during the forecast period. This is mainly due to the growing adoption of AMRs. The increasing preference for e-commerce shopping platforms and the growing need for enhancing the efficiency of warehouses have led companies to focus on the automation of operations. Further, the growth of the segment is influenced by the factors such as increasing demand for automated warehouses and automated material handling equipment coupled with the flexibility of these hardware systems and the wide range of tasks they can perform.
- Based on industry, the market is classified into automotive, manufacturing, food & beverages, aerospace, retail, and others. Amongst these, the retail industry is expected to witness the highest CAGR during the forecast period. The rapid rise of global e-commerce in areas such as online retailing combined with high urban density and elevated customer expectations for shorter delivery times have forced retail companies to integrate new material handling and automated solutions. Mobile robots and automated storage & retrieval system are automation solutions that ease the increasing pressure that is felt by online retailers to get orders out to customers more efficiently while reducing fulfillment costs.
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Warehouse Automation Market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Italy, Spain, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
- Rest of the World
APAC held a lucrative market share owing to the rapid growth of e-commerce, healthcare, and logistics sectors in emerging economies, such as China and India. For instance, in India, the growth of the industry has been triggered by an increase in internet and smartphone penetration. The number of internet connections in 2021 increased significantly to 830 million. Moreover, several global companies are increasingly investing in the robotics companies in the region, which is further accentuating the market. For instance, in February 2022, Addverb Technologies received orders worth around $1 billion, spread over four-to-five years, from Reliance Industries for robots with 5G technology. Reliance Retail picked up a majority stake in Addverb Technologies for USD 132 million in January 2022.
The major players targeting the market include
- Daifuku Co. Ltd.
- JBT Corporation
- KION GROUP AG
- Jungheinrich AG
- KNAPP group
- Toyota Industries Corporation
- KUKA AG
- Oceaneering International Inc.
- Fritz SCHÄFER GmbH & Co KG
- Scott Technology Limited
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Warehouse Automation Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Warehouse Automation market?
- Which factors are influencing the Warehouse Automation market over the forecast period?
- What are the global challenges, threats, and risks in the Warehouse Automation market?
- Which factors are propelling and restraining the Warehouse Automation market?
- What are the demanding global regions of the Warehouse Automation market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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Warehouse Automation Market Report Coverage
|
Report Attribute |
Details |
|
Base year |
2020 |
|
Forecast period |
2021-2027 |
|
Growth momentum |
Accelerate at a CAGR of 12% |
|
Market size 2027 |
USD 47 billion |
|
Regional analysis |
North America, Europe, APAC, Rest of World |
|
Major contributing region |
APAC to Dominate the Global Warehouse Automation Market |
|
Key countries covered |
United States, Canada, Germany, United Kingdom, Italy, Spain, France, China, Japan, India, Australia |
|
Companies profiled |
Daifuku Co. Ltd., JBT Corporation, KION GROUP AG, Jungheinrich AG, KNAPP Group, Toyota Industries Corporation, KUKA AG, Oceaneering International Inc., Fritz SCHÄFER GmbH & Co KG, and Scott Technology Limited. |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
|
Segments Covered |
By Component; By Industry; By Region/Country |
About UnivDatos Market Insights (UMI)
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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