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| Report Code: A31490 | Pages: 335 | ||
| Tables: 355 | Charts: 54 |
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The global warehouse automation systems market was valued at $21.7 billion in 2021, and is projected to reach $93 billion by 2031, growing at a CAGR of 15.7% from 2022 to 2031.
COVID-19 is an incomparable global public health emergency that has affected almost every industry, and the long-term effects are projected to impact industry growth during the forecast period. Moreover, the increasing adoption of technology such as IoT and connected devices and increasing initiatives to strengthen the automation system in developing nations of Asia-Pacific has boosted the growth of the warehouse automation systems market.
Warehouse automation is the process of using technology to raise the efficiency of warehouse processes, such as moving and assembly. In addition, these processes could involve mechanics to help move products between facilities or database systems to help track each area or warehouse. Furthermore, implementing an automated storage and retrieval system in your operation, you can reduce labor costs in a number of ways. In extreme cases, some operations can employ a single AS/RS to replace all picking labor, freeing up workers to focus on other more productive functions.
Increase in investments in R&D activities and surge in adoption of IoT & robotics in warehouse management system drive the growth of the warehouse automation systems market. In addition, rise in e-commerce sales fuel the growth of the warehouse automation systems market. However, lack of skilled workforce to operate and high set up and installation cost of warehouse robots, high capital investment are expected to impede the growth of warehouse automation systems market. Furthermore, increasing adoption of technologies such as AI, bid data, ML, and others is expected to provide lucrative opportunities for the warehouse automation systems market growth.
The warehouse automation systems market is segmented into Component, Automation Type, Enterprise Size and Industry Vertical.
Segment review
The warehouse automation systems market is segmented on the basis of component, automation type, enterprise size, industrial vertical, and region. By component, it is bifurcated into solution and service. On the basis of automation type, it is fragmented into physical automation and digital automation. In terms of enterprise size, the market divided into large enterprise and SMEs. In terms of industrial vertical, the market is classified into retail & consumer goods, healthcare & pharmaceuticals, manufacturing, food & beverages, transportation & logistics, automotive, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the warehouse automation systems market analysis are ABB Ltd., Automation Tooling Systems, Amazon Robotics, Fetch Robotics, Inc., FANUC Corporation, Kuka AG, Locus Robotics, Honeywell International, Inc., SSI Schaefer AG, Omron Corporation, and Yaskawa Electric Corporation, Inc. Muratec, Kion Group, Daifuku, KNAPP Group, Seegrid, and GreyOrange. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
In terms of offering, the solution segment holds the largest warehouse automation systems market share in the forecast period, owing to the use of remote monitoring and management software to deliver warehousing services more cost-effectively, manage customer devices, and other warehouse automation systems solutions. However, the service segment is expected to grow at the highest rate during the forecast period as they assist in effective functioning of software and platforms.
Region-wise, the warehouse automation systems market size was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to large scale adoption of robotics, IoT, artificial intelligence, and big data analytics in various countries in the region. However, Asia-Pacific is expected to witness significant growth during the forecast period, due to increasing adoption of robotics and sensor technology by various organizations.
COVID-19 Impact Analysis
The warehouse automation systems market has recorded continuous investments for its developments and has become a massive contributor to the economic growth. However, the COVID-19 pandemic has substantially impacted the value chain of the warehouse automation systems market. It has further resulted in decreased shipments of component and solution of warehouse automation and the revenues generated from them. Furthermore, COVID-19 pandemic has impacted almost all the industries globally including warehouse automation and machinery. Moreover, as a result, a drop was witnessed in the growth trend of the warehouse automation systems industry during 2020. This is expected to discontinue in the upcoming years as the demand is expected to increase due to the growing concern for smart automation, energy and resource efficiency.
Top Impacting Factors
Increasing investments in research and development activities
Companies operating in the warehouse automation sector are increasingly investing in R&D facilities, to boost their new product development activities and gain a competitive edge over other players through launch of technologically advanced products with greater operational capabilities and performance. For instance, in November 2021, Honeywell International Inc, a US-based conglomerate company involved in building technologies, safety & productivity solutions and performance materials & technologies, has announced its plans to develop a new advanced research and development (R&D) testing facility in the Czech Republic for its own Honeywell designed warehouse automation business to meet the growing demand for technologies that enable secure, more accurate supply chains. Furthermore, the facility enables Honeywell software and hardware engineers to design, prototype and test the innovative warehouse automation systems used by the logistics companies to improve the efficiency, accuracy and throughput of packages within the warehouses and distribution centers. Therefore, the rise in such initiatives is expected to boost the warehouse automation systems market during the forecast period.
Surging adoption of IoT and robotic in warehouse management system
Increasing adoption of IoT in warehouse automation is expected to drive the market growth as it offers various benefits such as increased transparency, improved last-mile delivery, predictive maintenance, real-time product tracking, and higher employee productivity. Furthermore, many e-commerce and retail giants have already implemented IoT solutions and robotics technologies in their warehouses. For instance, in June 2022, Amazon recently opened a semi-automated warehouse where humans and robots work together. Basic jobs are delegated to technology, such as moving items and scanning barcodes. For instance, over 400 robots and hundreds of humans work in Amazon's automated warehouse. As a result, industries are enabling IoT and robotic in warehouse management to increase warehouse efficiency as well as improve employee safety, which in turn is driving the growth of the warehouse automation systems industry.
Warehouse Automation Systems Market Report Highlights
| Aspects | Details |
|---|---|
| Market Size By 2031 | USD 93 billion |
| Growth Rate | CAGR of 15.7% |
| Forecast period | 2021 - 2031 |
| Report Pages | 335 |
| By Component |
|
| By Automation Type |
|
| By Enterprise Size |
|
| By Industry Vertical |
|
| By Region |
|
| Key Market Players | Schneider Electric, Hydropoint, Xenius, SUEZ, Trimble Inc., Ketos, neptune technology group, Siemens AG, Itron, Inc., Badger Meter Inc., IBM CORPORATION, ABB Ltd., ayyeka, Takadu, Landis+Gyr, Oracle Corporation, Honeywell International Inc. |
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Warehouse automation integrates technology and equipment to automate repetitive warehouse tasks and make them less labor-intensive in order to increase efficiency. In addition, it covers all of the hardware, software, people, and processes needed to automate warehouse tasks for greater efficiency and accuracy. It includes labeling inventory items for capturing warehouse data, automating storage & retrieval of items, and creating back-office reports. Moreover, automation helps to reduce repetitive labor costs and time in different business operations. Further, modern technology, such as drones and machine learning, creates opportunities for warehouse automation systems to perform more complicated, non-repetitive work and complete several parallel tasks.
The global warehouse automation systems market is expected to register high growth due to continuous rise of e-commerce sales and increase in size of warehouses globally, which rapidly boosts the demand for warehouse automation systems. With growth in requirement for warehouse automation, various companies have established partnerships to increase their capabilities. For instance, in May 2022, Berkshire Grey partnered with Logistex, a leading system integrator and warehouse management system provider, to help companies in their business operation regardless of the labor shortages and logistics challenges that affect global supply chains.
In addition, constant growth in technology investments globally and rise in demand for warehouse automation have made various companies expand their current product portfolio with increase diversification among customers. For instance, in May 2022, ABB launched the “ABB Robotic Depalletizer”, a solution for handling complex depalletizing tasks in industries such as healthcare, e-commerce, logistics, and consumer packaged goods. With the help of machine vision technology, this new solution can quickly assess a wide variety of box types, enabling customers to efficiently process assorted loads with minimal engineering efforts and short set-up time.
Moreover, with rise in competition, major market players have started acquisition companies to expand their market penetration and reach. For instance, in July 2021, ABB acquired ASTI Mobile Robotics Group (ASTI), a leading global autonomous mobile robot (AMR) manufacturer offering a complete portfolio of flexible automation.
A. Increase in investments in R&D activities and surge in adoption of IoT & robotics in warehouse management system drive the growth of the warehouse automation systems market. In addition, rise in e-commerce sales fuel the growth of the warehouse automation systems market.
A. Region-wise, the warehouse automation systems market size was dominated by North America in 2021 and is expected to retain its position during the forecast period, owing to large scale adoption of robotics, IoT, artificial intelligence, and big data analytics in various countries in the region.
A. The global warehouse automation systems market was valued at $21.67 billion in 2021, and is projected to reach $92.97 billion by 2031, registering a CAGR of 15.7% from 2022 to 2031.
A. The key players profiled in the warehouse automation systems market analysis are ABB Ltd., Automation Tooling Systems, Amazon Robotics, Fetch Robotics, Inc., FANUC Corporation, Kuka AG, Locus Robotics, Honeywell International, Inc., SSI Schaefer AG, Omron Corporation, and Yaskawa Electric Corporation, Inc. Muratec, Kion Group, Daifuku, KNAPP Group, Seegrid, and GreyOrange. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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