Warehouse Robotics Market Thrives on Expanding E-Commerce Industry
Warehouse robotics are those robots that are used particularly for various warehouse activities such as transport, palletizing, storing, packing, picking, and transfer. Presently, warehouse robotics are growingly utilized in warehouses of different industry verticals comprising pharmaceutical, e-commerce, food & beverages, retail, and automotive.
Transparency Market Research in its report on global warehouse robotics market observes that the market is fragmented and competitive due to the presence of many market players. Many market players are focusing on the expansion of their foothold through collaborations, acquisitions, mergers and partnerships. Some of the noted players in the global warehouse robotics market are Amazon Robotics LLC, SSI SCHAEFER, Fetch Robotics, Inc., YASKAWA, and Wynright Corporation.
SMEs to Generate Demand for Warehouse Robotics Market
In the last few years, the E-commerce industry has experienced substantial growth. This has increased the demand for warehouses to stock huge amount of e-commerce inventories. This has resulted in increased demand for human personnel to carry out operations and processes in warehouses. According to CBRE Group Inc., an American commercial real estate services and investment company, exponential growth of the e-commerce segment is estimated to generate requirement for additional 452,000 warehouses and distribution workers in the year 2018-19. This will create further issues for the already cash-strapped industry. Deployment of robots in warehouses will enable timely and smooth functioning. As such, it is expected that there will be increased investment in warehouse robots to cope up with labor scarcity problem. This factor is estimated to boost global warehouse robotics market over the period of forecast.
Besides, rising demand for industrial robots from Small and Medium Enterprise (SME) is generating ample new opportunities for the global warehouse robotics market. For example, Universal Robots have sold around 400 cobots to around 100 companies from 2016 to 2018. Out of the total sales, SMEs account for around 40% of the total share. Besides, rising number of startups and acquisitions by noted players, such as Google and Amazon, has become a popular trend in the global warehouse robotics market. Manufacturers focusing on strategic mergers and acquisitions to expand their product portfolio. For example, in the month of April 2019, Amazon made an announcement to acquire an autonomous warehouse robotics company Canvas Technology. This acquisition expects to add certain innovative elements to Amazon’s robot offerings. Presently, Amazon has around 100,000 systems located around 25 fulfillment centers.
On the other hand, high costs and absence of awareness associated with deployment and training of warehouse robotics expect to hamper the global warehouse robotics market over the period of forecast.
Asia Pacific to Continue with Market Dominance
The report on global warehouse robotics market delves deep into the regions of North America, South America, Europe, Asia Pacific, and Middle East and Africa. Asia Pacific region leads the global warehouse robotics market and is expected to do so in the years to come. Asia Pacific is expected to monopolize global warehouse robotics market in the coming years as well. This growth of the global warehouse robotics market is attributed to the rising number of deployment of robotic solutions.