USD 6.17 billion
Report ID: SQSG20I2002 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 95 | Figures: 76
Logistics Robots Market size was valued at USD 6.17 billion in 2021 and is poised to grow from USD 7.2 billion in 2022 to USD 28.91 billion by 2030, growing at a CAGR of 16.7% in the forecast period (2023-2030).
Logistics robots automate the procedures of storing and transporting items along the supply chain. These robots are frequently used in storage facilities and warehouses because they provide higher levels of uptime than manual labor. It also leads to the biggest productivity increases and profitability for end users. The utilization of warehouses outfitted with self-driving technologies is becoming more popular. It emphasizes the significance of on-time delivery across logistical infrastructures. Furthermore, the increased need for sophisticated supply chain operations and E-commerce fulfillment services is a major driver driving the creation of logistics robotics. At the moment, the use of AI, machine learning, and warehouse management software solutions is creating chances for increased demand for logistics robots across the globe. Furthermore, labor-intensive warehouse operations are forcing retailers and facility owners to embrace automated logistic systems. This is further fueling the growth of the logistics robots Logistics Robots Market.
US Logistics Robots Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.17 billion
Automated Guided Vehicles
Automated Guided Vehicles
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The Global Logistics Robots Market is segmented on the basis of Type, Application, Industry, And Region. Based on Type, the Logistics Robots Market is segmented into Automated Guided Vehicles, Autonomous Mobile Robots, Robot Arms, and Others. Based on Application, the Logistics Robots Market is segmented into Palletizing & De-palletizing, Pick & Place, Transportation, and Others. Based on Industry, the market is segmented into E-commerce, Healthcare, Retail, Food & Beverage, Automotive, and Others. Based on Region, the Logistics Robots Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Type
The Logistics Robots Market is divided into autonomous mobile robots, automated guided vehicles, robot arms, and others. The autonomous guided vehicles industry is predicted to increase at a substantial rate during the forecast period owing to its ability to move freely around warehouses and factories. Furthermore, using sensor and guided-vision technology, AGVs can execute an optimal path in real-time or follow a pre-programmed path. Goods are labeled with barcodes and RFIDs, allowing AGVs to recognize the product and deliver it to its intended location. The autonomous mobile robots, robot arms, and other (UAVs) segments are expected to grow at a rapid pace throughout the projection period due to their ability to do repetitive work at a low cost.
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In 2021, North America is expected to have the largest Logistics Robots Market share in the world. This is due to the increased construction of warehouses and distribution centers around the region. Furthermore, significant expenditures in the development of industry 4.0, smart factories, and automated warehousing systems are growing sales of logistics-type robots in this region. Furthermore, the region's expanding E-commerce, healthcare, and retail industries will play an important role in increasing the deployment of these robots.
Asia Pacific is expected to grow at a fastest rate in the coming years. Countries such as China and South Korea are focusing heavily on improving existing technology in order to remain competitive in the global Logistics Robots Market. Furthermore, the growing E-commerce and automotive industries in the Asia Pacific region are propelling the logistics robot industry.
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The logistics robots market is relatively fragmented, with a high level of competition. Few large players, like ABB Ltd, Honeywell, and Kiva Systems, now control the Logistics Robots Market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their Logistics Robots Market share and profitability.
Top Player’s Company Profiles
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According to our analysis, the expanding number of online consumers is propelling the e-commerce industry all around the world. As a result, retailers are working hard to meet the delivery deadlines. To accomplish this, they are utilizing logistical robots to assist in the completion of complex jobs. Companies in underdeveloped nations, on the other hand, have a variety of hurdles in deploying innovative robots in their businesses, which is accompanied by a large investment demand. This aspect may limit the growth of the logistics robots Logistics Robots Market in the approaching years. Key industry players are implementing cutting-edge technology to acquire a competitive advantage. To compete with their opponents, the majority of them are engaging in collaborative activities such as agreements, contracts, and joint ventures with local enterprises. Vecna Robotics, for instance, is regarded as a Logistics Robots Market leader in the logistic robots business. It has a strong supply chain. Simultaneously, in order to increase sales, it has implemented robotic warehouse technologies.
|Market size value in 2021||USD 6.17 billion|
|Market size value in 2030||USD 7.2 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Logistics Robots Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Logistics Robots Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG20I2002