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Warehouse Robotics to Hit $9.7 Billion by 2026

Warehouse Robotics to Hit $9.7 Billion by 2026

Nov. 15, 2021
In 2021, the market is expected to reach $4.7 billion.

As eCommerce continues to grow, the global warehouse robotics market size is expected to reach $9.1 billion by 2026, representing a 14% CAGR rate.

For 201 the market is expected to reach $4.7 billion.

The growing demand for quick order supply to customers in an accurate and undamaged form, increasing competition in the e-commerce industry, and rapid rise in online shopping are the key factors expected to drive the growth of the warehouse robotics market for the e-commerce industry.

The automation solutions, which are e built for scale and can deliver higher output and more accurate order fulfillment than a manual setup, >help to keep costs and operational complexity in check. They can increase customer satisfaction and improve margins by reducing the delivery time and cutting down the costs of wrong orders, the research notes.

Within the market, the transportation function is the fastest-growing function for the warehouse robotics market. In a demanding warehouse and distribution environment, the internal transportation of goods and products needs to be done efficiently and cost-effectively. Thus, warehouse operators are widely using robots for performing automated transportation of goods between different locations within a warehouse. Automated transportation of material is an efficient, space-saving, and cost-effective alternative to manual transportation. Warehouse robot helps minimize the risk of accidents by reducing labor intervention, ensuring timely delivery of goods, and reducing inventory cost thereby increasing the productivity of warehouse operations.

Looking at regional information the Asia Pacific region is expected to dominate the warehouse robotics market and is projected to have the largest market share during the forecast period. Part of the growth is due to countries such as  China, Japan, and South Korea where several major players in the warehouse robotics market dwell.

In China, for example, the increasing trend of online retail shopping, the rising number of start-ups that are developing mobile robots, the high attrition rate of warehouse laborers, and active funding by venture capitalists for the development of mobile robots are some of the key factors driving the growth of this market. robotics market.

In addition, the e-commerce industry in China has evolved rapidly over the last 5 years supported by the high internet and smartphone penetration, increasing consumer confidence in online shopping, the emergence of various e-commerce platforms, and availability of several payment solutions, such as Alipay and WeChat Pay. The COVID-19 pandemic has further accelerated the growth of the industry as consumers are preferring online channels for shopping. According to the National Bureau of Statistics of China, while the total retail sales of consumer goods in the country declined by 3.9% in 2020, online retail sales of physical goods increased by 14.8%.

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