Exploring the Future of Warehouse Automation | Market Expected to Reach $57.6 Billion by 2031
Warehouse Automation Industry registering a CAGR of 15.7% and is projected to reach $57 Billion by 2031
PORTLAND, UNITED STATES, UNITED STATES, February 10, 2023 /EINPresswire.com/ — The growing need for automation in warehouses is driven by several factors, including the need to reduce labor costs, improve throughput, and reduce errors. Automation solutions can help warehouses increase their efficiency and accuracy and reduce costs by reducing manual labor. The increasing demand for e-commerce, the growth of the organized retail sector, and the increasing demand for automation and robotics in warehouses are also driving the market.
According to a new report published by Allied Market Research, titled, “Warehouse Automation Market,” The warehouse automation market size was valued at $13.6 billion in 2021, and is estimated to reach $57.6 billion by 2031, growing at a CAGR of 15.3% from 2022 to 2031.
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The warehouse automation market has witnessed significant growth in past few years, owing to surge in purchase from online-channels. The market is experiencing growth owing to rise in global trade, and increased disposable income.
Inventory management in a non-automated is labor intensive and prone to human errors. Thus, to address such issues, various levels of automation is being introduced in warehouses. An automated warehouse is largely managed by robots and other automated systems, which reduces the possibility of human error, and makes the warehouse work efficiently at a fast pace. This increases the profitability of warehouses. In addition, rise in labor costs is also a major factor driving the growth of the warehouse automation. Developed countries such as U.S., and Canada, which already had a highly developed e-commerce, and industrial sectors are leading the warehouse automation market. In addition, governments in developing countries have implemented various policies for development of industrial sector. Since, industries make significant use of warehouses for storage of raw materials and finished products, growth of industries is expected to drive the growth of the warehouse automation market.
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In terms of geography, North America is expected to be the largest regional market for warehouse automation solutions, due to the presence of several major players in the region. Europe is expected to be the second-largest regional market, driven by the increasing demand for efficient supply chains and the growing demand for automation solutions in countries such as Germany, France, and the UK. The Asia-Pacific region is also expected to witness strong growth in the warehouse automation market, due to the increasing demand for automation solutions in countries such as China, India, and Japan.
The key players in the warehouse automation market include Honeywell, Zebra Technologies, Fetch Robotics, Kiva Systems (Amazon), and SEW-Eurodrive. These players are investing heavily in research and development to develop innovative solutions to meet the increasing demand for automation solutions. They are also focusing on expanding their product portfolio and developing new technologies to gain a competitive edge in the market.
Overall, the warehouse automation market is expected to witness strong growth over the forecast period. The increasing demand for efficient supply chains and the growth of the retail and manufacturing sectors are expected to be the major drivers of growth. The key players in the market are focusing on developing innovative solutions to meet the increasing demand.
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According to Digvijay Pawar, Lead Analyst, Construction and Manufacturing at Allied Market Research, “”
Key companies profiled in the warehouse automation market forecast report include ABB Ltd., Amazon.com Inc. (Amazon Robotics), ATMOS, Bastian Solutions LLC, Daifuku Co Ltd., Dorabot, Fanuc Corporation, Honeywell International Inc., Jungheinrich AG, KION GROUP (DEMATIC), Kuka AG, Omron Corporation, Schneider Electric, Siemens AG, SSI-Schaefer, Yaskawa Electric Corp, and Zebra Technologies Corporation (Fetch Robotics, Inc.).
Key Findings of the Study
The report provides an extensive analysis of the current and emerging warehouse automation market trends and dynamics.
By component, the hardware segment dominated the warehouse automation market, in terms of revenue in 2021 and software is projected to grow at a significant CAGR during the forecast period.
By application, the e-commerce segment registered higher revenue in 2021.
By end-user industry, the retailers’ segment is anticipated to grow at a higher CAGR during the forecast period.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players within the warehouse automation are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the warehouse automation industry.
The report provides an extensive analysis of the current trends and emerging warehouse automation market opportunities.
In-depth warehouse automation market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
David Correa
Allied Analytics LLP
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