Evolution of Industry 4.0 to Pave an Opportunistic Roadmap for Warehouse Robotics Market
Growing integration of Industry 4.0 is expected to present potential growth opportunities for warehouse robotics market. The evolution of Industry 4.0 has transformed the manufacturing sector showing new paradigms circling around automation, productivity, and efficiency. Aiming at developing an advanced operational environment, Industry 4.0 integration in warehouses is likely to pave opportunities wherein warehouse robots, and humans can co-work boosting productivity. By integrating Industry 4.0, robots can be programmed with specific commands and instructions that would enable their working under different operational circumstances. Warehousing facilities can easily adapt to new changes in their processing lines using automation offered by Industry 4.0.
Furthermore, using this new-age technology, communication between human faculties, and robots regarding different warehouse operations can be established efficiently. This can result in enhanced coordination between systems, in turn facilitating completion of high velocity, and time-critical tasks at less cost in the continuously evolving ecosystem. It also enables companies to carry out huge volume tasks such as speedy delivery of goods, and processing of customised orders with greater efficiency.
Pervasive E-commerce Industry to Give an Impetus to Market Growth
The past couple of years have witnessed rampant growth of the e-commerce sector largely driven by omni-channel retailing, mobile adaptivity, buyer and seller convenience, and a greater range of product offerings across various brands. Growing inclination of customers towards online ordering has resulted in increasing inventory of goods in company warehouses. To cater to growing customer demands, companies are stocking new products and ensuring their safe storage and packaging. However, with increasing volumes, it becomes tedious to ascertain efficient storage and packaging activities. That said, companies have been investing in quick ROI and high-efficiency tools to manage their warehouse operations alongside reducing delivery time of the order. This has triggered use of warehouse robotics tools in company warehouses.
Gaining high ground as a comprehensive solution, warehouse robotics is widely used by e-commerce companies in a bid to handle order management and fulfilment processes. Moreover, apart from order management and rapid deliveries, warehouse robotics also ensures human safety, flexible movement of material, and traceability. In addition, long term labour shortage has prevailed as a subject of concern to warehouse facilities. This has translated into companies shifting towards hardware and software solutions apropos to warehouse automation in order to maintain competitive edge. That said, proliferation of robotic solutions in warehouses coupled with rising SKUs (stock keeping units) due to accelerating e-commerce sector is expected to boost growth of the warehouse robotics market.
AMRs to Witness High Demand from Warehouses
Autonomous mobile robots (AMRs) are expected to gain significant traction largely contributing towards value growth of the warehouse robotics market. Growing preference of e-commerce platforms along with increasing need to enhance warehouse efficiency has resulted in companies opting for operational automation. This has pushed the adoption of autonomous mobile robots in warehouses on the back of their perceived operational benefits. AMRs offer increased flexibility, easy integration, enhanced safety, high scalability, faster implementation, and ability to work with high volumes of stock keeping units. This aspect backed by technological advancements such as machine learning, robot mechanics, Artificial Intelligence, and deep learning are expected to fuel demand for AMRs in turn complementing market growth.
Asia Pacific Likely to Reign Supreme in the Warehouse Robotics Market
Growing online retailing and rising number of start-ups in emerging economies of Asia Pacific are expected to augur well for the warehouse robotics market growth in the region. In addition, manufacturing industry has emerged as lucrative sector in Asia Pacific owing to several macro factors such as cheap land and labour, growing population resulting in high customer pool and presence of several end user companies due to favourable business environments. This has resulted in increasing demand for automation backed by emergence of Industry 4.0. Furthermore, active funding raised by venture capitalists, and increasing investments in robotic deployment across range of industries has remained instrumental in driving warehouse robotics market growth. For instance, ForwardX Robotics, a Chinese developer of AMRs offering services to manufacturing and warehousing environments closed its series B funding in 2021 by raising another funding of more than US$ 38 million led by Dohold Capita, Eastern Bell Capital and CDH Investment’s VGC.
Warehouse Robotics Market: Competitive Landscape
Key companies in the warehouse robotics market are focused on launching new products to maintain their market position. For instance, in 2021, Omron Automation Americas launched mobile robots designed for heavy duty processes. These robots feature a payload capacity of about 1500 Kg and can handle bulk objects during internal transportation. Likewise, same year in February, ABB launched SWIFTI and GoFa cobot families. These cobots are faster and stronger offering high speeds and payloads supporting companies in their expansion across high growth markets. In 2022, Amazon introduced Proteus – its fully autonomous warehouse robot.
A few of the major players in the market include ABB Ltd., KION Group AG, Locus Robotics, Shanghai Quicktron Intelligent Technology Co. Ltd., Vecna Robotics, SSI Schaefer AG, Yaskawa Electric Corporation, and Hikrobot.
The Global Warehouse Robotics Market is Segmented as Below:
By Payload Capacity
Key Elements Included In The Study: Global Warehouse Robotics Market
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