Rising E-commerce Sales Propel Growth in the Global Warehouse Automation Market
The Business Research Company’s Warehouse Automation Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LANDON, GREATER LANDON, UK, November 2, 2023 /EINPresswire.com/ — The global warehouse automation market, valued at $17.32 billion in 2022, is expected to expand significantly, reaching $19.78 billion in 2023, with a robust compound annual growth rate (CAGR) of 14.2%. Despite short-term economic disturbances arising from the Russia-Ukraine conflict, including supply chain disruptions and inflation, the market is projected to witness substantial growth, reaching $33.59 billion by 2027.
Market Segmentation and Key Players
1. Type: Conveyor/Sortation Systems, Automated Storage and Retrieval Systems (AS/RS), Mobile Robots, Warehouse Management Systems (WMS), Automatic Identification and Data Capture (AIDC)
2. Component: Hardware, Software
3. Function: Inbound, Picking, Outbound
4. End User: General Merchandise, Healthcare, FMCG/Non-durable Goods, Other End Users
Leading warehousing automation companies such as Honeywell Intelligrated, KUKA Group, and KNAPP Group are actively investing in research and development initiatives, aiming to fortify their market positions by introducing cutting-edge products with superior operational capabilities and performance. The increasing focus on research and development activities in the warehouse automation sector is a significant trend, evident through Honeywell International Inc.’s establishment of an advanced research and development testing facility in the Czech Republic, primarily catering to the demands for secure and more accurate supply chains through innovative warehouse automation systems.
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Driving Force: Surge in E-commerce Sales
The unprecedented growth in e-commerce sales, projected to constitute 22% of all retail sales worldwide in 2023, as indicated by the Robotic Business Review, is instigating a widespread adoption of warehouse automation technologies, aiding retailers in optimizing efficiency and revenue per square foot. The upward trend in utilizing automation in warehousing, contributing to revenue augmentation in the e-commerce real estate sector by 10% to 20% over the next three years, underlines the pivotal role of warehouse automation in addressing the challenges posed by escalating e-commerce demands.
Regional Analysis: North America Leads, Asia-Pacific Displays Rapid Growth
In 2022, North America maintained its position as the largest region in the warehouse automation market, leveraging its technological advancements and robust emphasis on security infrastructure development. The Asia-Pacific region is poised to be the fastest-growing market during the forecast period, driven by increasing investments in warehouse automation solutions and the proliferation of e-commerce activities. The comprehensive market report offers a comprehensive analysis of key regions, including Asia-Pacific, Western and Eastern Europe, South America, the Middle East, and Africa, providing a comprehensive understanding of regional dynamics and evolving market trends.
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Warehouse Automation Global Market Report 2023 from TBRC covers the following information:
1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Warehouse Automation Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on warehouse automation market size, warehouse automation market drivers and trends, warehouse automation market major players, warehouse automation market competitors’ revenues, warehouse automation market positioning, and warehouse automation market growth across geographies. The warehouse automation market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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