Warehouse Robotics Market to Reach $31,343.7 Million, Globally, by 2032 at 18.2% CAGR: Allied Market Research
Wilmington, Delaware, May 07, 2024 (GLOBE NEWSWIRE) -- Warehouse Robotics Market to Reach $31,343.7 Million, Globally, by 2032 at 18.2% CAGR: Allied Market Research
The expansion of the warehouse robotics market is being driven by the increasing consumer need for automated fulfillment and distribution centers as well as the growing recognition of the importance of high-quality and safe products. These factors are expected to have a favorable effect on the outlook of the warehouse robotics industry in the future.
Allied Market Research published a report, titled, "Warehouse Robotics Market by Type (Automated Guided Vehicles (AGVS), Articulated Robotic Arms, Collaborative Robots, SCARA Robots, and Others), Operation (Pick and Place, Assembling and Dissembling, and Packaging), and End User (Food and Beverage, Electronics and Electrical, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the warehouse robotics market was valued at $7,069.1 million in 2023 and is estimated to reach $31,343.7 million by 2032, growing at a CAGR of 18.2% from 2024 to 2032.
Prime determinants of growth
Warehouse robots are autonomous machines that have been developed to improve or replace human labor in a factory environment through automation. These robots consist of two main components: a machine specifically designed for a particular task and the software that controls its operations. Typically, robots are programmed to perform specific functions, such as transferring materials between different slots within the warehouse or between slots and the loading dock. In addition, some robots can reorganize the layout of the warehouse by moving entire racks, thereby optimizing space efficiency. The growing popularity of e-commerce in recent years has resulted in a greater demand for warehouse robotics. As customers increasingly place online orders and expect faster delivery times, warehouses and fulfillment centers are faced with the challenge of meeting these demands without a corresponding increase in budget. Consequently, warehouses are under pressure to expedite the movement of products from storage to shipping at a quicker pace than before.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2024–2032 |
Base Year | 2023 |
Market Size in 2023 | $7,069.1 Million |
Market Size in 2032 | $31,343.7 Million |
CAGR | 18.2% |