Provided by BIS Research
In the latter half of the 20th century, the introduction of robots into the manufacturing sector was slow. Since then, other industries also realized the potential of robots to save labor cost, energy and time. According to the International Federation of Robotics (IFR) report, the global sales of industrial reports increased by 16% to 294.312 units, in the year 2016 as compared to the previous years.
Need for automation
During the forecast period 2017-2021 the global logistics and warehouse robot market is expected to witness significant growth due to the rising need for automation. With the introduction of robots in various logistics and warehouse operations, companies can automate repetitive and time-consuming tasks and reduce unexpected human errors in the overall process. This high scale growth of the logistics and warehouse robot industry is subsequently influencing the market and impacting the development of advanced robotics for this sector.
Key drivers behind the growth of the logistics and warehouse robot market are the electronics, electrical and automotive industry. Due to having to move goods from one place to another, automated mobile machines to reduce delivery time and streamline operations in the warehouses are important.
CAGR of 45.2% from 2017 to 2021
According to the latest market intelligence report ‘Global Logistics and Warehouse Robotics Market- Analysis and Forecast (2017-2021)’ the global market for logistics and warehouse robotics is expected to grow at a CAGR of 45.2% from 2017 to 2021. This significant market growth is attributed to the growing e-commerce market, offering high efficiency at low cost, and enhanced precision level. The rising venture capitalist investments, the growing Third Party Logistics (3PL) market, and the introduction of industry 4.0 into logistics and warehouse is expected to present a pool of opportunities for further growth of the market 2017-2021. ABB Robotics, Fanuc Corporation, Kuka AG, Grey Orange, and IAM Robotics are among the prominent market players.
The global market for logistics and warehouse is majorly focused on specific robot types: Mobile robots, Cartesian robots, collaborative robots, and articulated robots, among others. Due to their mobility and flexibility in the workspace, mobile robots held the highest market share in the year 2016, and they are expected to continue at this level globally. The market for collaborative robots is expected to register the highest CAGR during the forecast period because they allow working along with humans and complementing each other within the workspace.
E-Commerce and China driving growth
Logistics and warehouse robots have been deployed by various end-users into multiple other industries such as automotive, e-commerce, pharmaceuticals, and others. End-users from the e-commerce industry acquired the most significant market share in 2016 but automotive end-users are expected to have a higher growth rate 2017-2021.
Geographically, China is the leading nation in Asia-Pacific (APAC) and acquired the most significant market share globally. This is due to China’s high demand for e-commerce industries. Japan and the Republic of Korea are China’s competitors in APAC. North America is expected to register the highest CAGR 2017-2021 due to high demands from Canada and Mexico. These nations are expected to drive market growth in the near future.
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