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Warehouse robotics market expected to reach 4.44 billion USD by 2022 according to market forecasts

Warehouse robotics market expected to reach 4.44 billion USD by 2022 according to market forecasts

Warehouse Robotics Market by Type (Mobile, Articulated, Cylindrical, SCARA, Parallel, Cartesian), Software, Function (Pick & Place, Palletizing & Depalletizing, Transportation, Packaging), Payload Capacity, Industry, and Region - Global Forecast to 2022

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The warehouse robotics market is expected to be valued at USD 4.44 Billion by 2022, growing at a CAGR of 11.8% between 2017 and 2022. The growth of this market is propelled by the growing e-commerce industry, need for enhanced quality and reliability in warehouse operations, active funding from venture capitalist for startup robotics companies, and increasing adoption of warehouse robotics by small- and medium-sized enterprises (SMEs).

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The warehouse robotics ecosystem comprises robot designers and manufacturers, component providers, system integrators, software providers, and distributors. The players involved in the development of warehouse robotic systems include ABB Ltd.

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(Switzerland), Fanuc Corp. (Japan), Kuka AG (Germany), Yaskawa Electric Corp.

(Japan), and Amazon.com, Inc. (U.S.) among others. The International Organization for Standardization (ISO) has defined various design and safety standards such as ISO 8373:2012, ISO 9283:1998, ISO 9787:2013, ISO 10218-1:2011, ISO 10218-2:2011, and ISO/TS 15066 for warehouse robotic systems.

Mobile robots held the largest share of the warehouse robotics market in 2016 and is expected to grow at a high rate between 2017 and 2022. Mobile robots are widely used by leading e-commerce companies and are also being gradually implemented in warehouses operated by manufacturing companies.

The mobile robot adapts to changes in product types and velocities, order prioritization, and order shipment accuracy. Another key advantage of the mobile robot is a faster return on investment (ROI), as mobile robots are easier to set up and cheaper to operate.

Warehouse management system (WMS) accounted for the largest share of the warehouse robotics market in 2016 and is expected to grow at the highest CAGR between 2017 and 2022. WMS is a highly specialized business application that controls the flow of inventory into, within and out of a company’s warehouse or multiple warehouses.

High awareness about the benefits offered by WMS among warehouse operators is the key driver for the growth of the WMS market. WMS offers benefits such as higher productivity, reduced cost, improved space utilization, reduced inventory, and improved customer satisfaction.

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The e-commerce industry accounted for the largest share of the overall warehouse robotics market in 2016. Since the past few years, the global e-commerce industry has been witnessing strong growth and profitability.

The increasing trend of online shopping, rapidly changing customer demands, increasing demand for shorter delivery times, and fierce competition among online retailing companies has increased the demand for automated fulfilment centers, which in turn has increased the demand for robots. The market for the food and beverages industry is expected to grow at the highest rate between 2017 and 2022.

In the food and beverages industry, the fast moving nature of the products need warehouse operators to maintain their inventory on a continuous basis to satisfy the rapidly growing customer demands. To handle the increasing demand, companies are using warehouse robotics for pick and place, packaging, and transportation applications.

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