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With 24.16% CAGR, Logistics Robots Market Worth will be US$ 49.4 Billion by 2027

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With 24.16% CAGR, Logistics Robots Market Worth will be US$ 49.4 Billion by 2027

December 05
08:36 2022
With 24.16% CAGR, Logistics Robots Market Worth will be US$ 49.4 Billion by 2027
Logistics Robots Market
To get a strong foothold in the market, several companies are incorporating logistics robots in their warehouse and storage facilities to enhance their operational efficiency.

According to the latest report by IMARC Group “Logistics Robots Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“,  Offers a comprehensive analysis of the industry, which comprises insights on global logistics robots market 2022 report. The global logistics robots market reached a value of US$ 11.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 49.4 Billion by 2027, exhibiting at a CAGR of 24.16% during 2022-2027.

Logistics robots are used in supply chain operations to move and store heavy loads. They rely on advanced technologies, such as artificial intelligence (AI), the internet of things (IoT), and machine learning (ML), to identify, sort, move, and track inventories and improve various aspects of the modern workforce. They are available in the form of pallet conveyor systems, mobile automated guided vehicles (AGVs), stationary piece packing, automated storage and retrieval systems (ASRS), and drones. They are utilized in transporting goods by moving through a predefined pathway and carrying heavy loads to various facility zones and working stations within the warehouse. They enable logistics companies to enhance their productivity by reducing human involvement in various labor-intensive tasks and minimizing warehouse expenses.

Logistics robots also improve the safety conditions of workers by doing numerous difficult and dangerous jobs effortlessly. They aid e-commerce businesses in improving their customer experience by increasing delivery speed, decreasing human errors, providing comprehensive technical support, and scheduling appointments. They also assist in performing inventory inspection, automation loading and unloading, and dispatch tasks to maintain smooth workflow in warehouses. As they offer spontaneous and efficient working capabilities, logistics robots are utilized in electronics, automotive, food and beverage (F&B), transportation, healthcare, and agricultural industries across the globe.

Logistics Robots Market Trends:

The rising usage of logistics robots in warehouses to achieve efficiency in operations and manage labor-intensive tasks represents one of the primary factors driving the market. Besides this, the increasing number of warehousing companies around the world, along with the growing adoption of logistics robots to maintain the safety of employees, is positively influencing the market. In addition, the rising utilization of technologically advanced machines to minimize manual labor and improve automated tasks is propelling the growth of the market. Apart from this, there is an increase in online shopping activities among individuals worldwide to save time. This, coupled with the increasing number of online retail stores, is contributing to the growth of the logistics robot market.

Additionally, the growing employment of logistics robots in airports, such as conveyor belts and automated guided vehicles (AGVs) to transport luggage, is offering a positive market outlook. Moreover, the rising adoption of logistics robots in healthcare facilities to deliver medicine and lab specimens is strengthening the growth of the market. Furthermore, the escalating demand for logistic robots with advanced features, such as speech recognition and self-operating capabilities, is bolstering the growth of the market.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Logistics Robots Market Report Coverage and Industry Segmentation:

The report cover the below key market segments:

Market Breakup by Component:

  • Hardware
  • Software

Market Breakup by Robot Type:

  • Autonomous Mobile Robots
  • Automated Guided Vehicles
  • Robotic Arms
  • Others

Market Breakup by Function:

  • Pick and Place
  • Loading and Unloading
  • Packing and Co-Packing
  • Shipment and Delivery
  • Others

Market Breakup by Operation Area:

  • Factory Logistics Robots
  • Warehouse Logistics Robots
  • Outdoor Logistics Robots
  • Others

Market Breakup by End Use Industry:

  • E-Commerce
  • Healthcare
  • Retail
  • Food and Beverages
  • Automotive
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape with Key Player:

  • ABB Ltd
  • Asic Robotics AG
  • Clearpath Robotics Inc
  • FANUC Corporation (TYO: 6954)
  • Fetch Robotics Inc
  • Kion Group AG (ETR: KGX)
  • KUKA Aktiengesellschaft (Midea Group Co. Ltd.)
  • Omron Corporation (TYO: 6645)
  • Toshiba Corporation and Yaskawa Electric Corporation

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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