Logistics Robots Market to Observe Impressive Growth of US$ 20,293.4 Million By 2027 | Industry Trends, Global Demand, Future Scope And Top Player Analysis

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According to the new research report published by The Insight Partners, titled “”Logistics Robots Market – Global Analysis and Forecasts to 2027″”, the global logistics robots market is expected to reach US$ 20,293.4 Mn in 2027, by registering a CAGR of 19.1% during the forecast period 2019-2027.

In 2018, Asia-Pacific was estimated to hold the largest market share and APAC is expected to be fastest region with a CAGR of 16.3% during 2019 to 2027.

The global logistics robots market is experiencing a steady growth in the current years and is also expected to witness steep growth during the forecast period. The logistics robots market comprises of several tier1 and tier2 companies across the globe which capitalizes substantial amounts with an objective to develop advanced solutions for the modern-world logistics. The increase in the number of logistics and warehousing companies that are robustly focusing on incorporating robots to gain the benefits of enhanced efficiency, speed, and augmented profits to remain competitive in a market. The adoption of advanced technology such as robotic warehousing and logistics technologies are growing in order to enhance the operation efficiency at affordable price. Factors such as the demand for advanced robotic solutions and labor shortage issue, have created massive opportunity to implement these robots across the industries. The constant growth in the global e-commerce as well as on-demand economy, the requirement of advanced and new generation of autonomous mobile robots are aiding companies to handle major labor shortage issue.

Asia-Pacific holds the dominant share in the logistics robots market, whereas North America is expected to be the fastest growing region across the globe. Australia, China, India, Japan, South Korea, and Rest of Asia Pacific are the major contributors to the logistics robots market in APAC. The region has a more progressive economic outlook than other regions in the world. It has enormous growth potential, with fast-growing countries such as China and South Korea and developed nations such as Japan. North America is the fastest growing region in the logistics robots market. The region consists of many developed countries that are witnessing a high growth in their robotics sector. The most common benefits of adopting logistic robots are reduced human errors, clear visibility of freight rates, improved customer services, better scalability, and among others. The logistic robots have become a significant part of the supply chain process for small and large businesses. These firms deliver various services such as warehousing, inventory management, transportation, distribution, order fulfillment, and freight consolidation. With the help of logistic robots, the manufacturing companies are focusing towards product development with boosted sales. The integration of advanced sensors and vision technology, allows the robots to freely roam around warehouses and factories, by sensing and responding to the objects and movement of people around them. The introduction of AGVs in logistic robots helps to monitor pre-defined routes and floor markings. Also, Europe is a technologically advanced region and is one of the chief reasons for the increase in the IT transformation.

Key findings of the study:

North America is the fastest growing region in the logistics robots market. US holding the leading position followed by Canada and Mexico. US dominates the entire North America region in terms of the number of logistics robots used. Also, being a tech-savvy country, the demand for advanced technologies is an all-time high in the country. This has led to a rise in the procurement of logistics robots in various industries. Canada and Mexico, on the other hand, are witnessing a rise in demand for automation in warehouses which is capitalizing on the logistics robots market in the region.

The logistics robots market is analyzed on the basis of various parameters such as function, industry, robot type, and geography. The function segment comprises of pick & place, palletizing and de-palletizing, transportation, packaging. The industry segment in the logistics robots market includes healthcare, e-commerce, automotive, outsource logistics, retail, consumer goods, food and beverages, others. The robot type segment includes robotic arm, AGV, collaborative mobile robots, others. The logistics robots market is analyzed on basis of five strategic regions namely; North America, Europe, Asia-Pacific (APAC), MEA, and South America (SAM).

The global logistics robots market is anticipated to witness impressive growth during the forecast period owing to growing percentage of aging population globally leading towards labor shortage and augmenting supply chain networks globally. On the contrary, factors such as high capital investment for the deployment of logistics robots might hinder the growth of logistics robots market. During the forecast period of 2019 to 2027, by function, transportation held the largest market share and will continue its dominance in the market. On the basis of industry, e-commerce held the largest market share in 2018 and is expected to maintain its dominance through the review period. AGV segment by robot type in 2018 led the logistics robots market, whereas robotic arm is expected to be the fastest-growing robot type during the forecast period 2019-2027 growing at a high CAGR value.

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