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Logistics Robots Market size was valued at USD 6.17 billion in 2019 and is poised to grow from USD 7.2 billion in 2023 to USD 28.91 billion by 2031, growing at a CAGR of 16.7% in the forecast period (2024-2031).

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. 'ABB (Switzerland) ', 'Vecna Robotics (US) ', 'KUKA AG', 'Fanuc Corporation', 'Yaskawa Electric Corporation', 'Kawasaki Heavy Industries Ltd.', 'Mitsubishi Electric Corporation', 'Omron Corporation', 'Amazon Robotics LLC', 'Clearpath Robotics Inc.', 'Fetch Robotics Inc.', 'GreyOrange Pte. Ltd.', 'IAM Robotics LLC', 'Locus Robotics Corporation', 'Mobile Industrial Robots (MiR) A/S (a subsidiary of Teradyne, Inc.)', 'SSI Schaefer AG', 'Swisslog Holding AG (a subsidiary of KUKA AG)', 'Wynright Corporation (a subsidiary of Daifuku Co., Ltd.)', 'Grenzebach Group', 'Hyster-Yale Materials Handling, Inc.'

Order fulfillment in the e-commerce sector is a significant contributor to the growing deployment of logistics robots. To stay up with delivery timetables, businesses are being forced to employ the automation process to do monotonous operations using robotic solutions due to an increase in the number of online customers. Furthermore, the successful integration of digital automation networks enables a real-time perspective of activities. As a result, manufacturers, shipping companies, and other businesses may simply assess the condition of operations. This function is critical for the E-commerce sector because they are primarily concerned with meeting the needs of their customers on time. This also contributes to the market's expansion.

The concept of warehouses outfitted with self-driving systems is gaining traction. Robots oversee the majority of the operational workflow, which includes scanning, pick and place, transportation, and other tasks. With the increasing number of autonomous warehouses, the industry is likely to rise at a rapid pace in the future years. Furthermore, logistic service providers are rapidly investing, which is projected to boost the industry further. For example, in 2019, XPO Logistics, a logistics service provider based in the United States, committed USD 550 million each year to integrate industry-leading innovations across its operations in North America and Europe. Furthermore, the growth of the E-commerce business and the increasing necessity of real-time inventories are two major factors driving Logistics Robots Market growth.

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.

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Global Logistics Robots Market

Product ID: SQSG20I2002

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