Logistics Robots Market Size to Reach USD 14.93 Billion by 2027 | Growth of the e-Commerce Sector Is One Of The Significant Factors Influencing Industry Growth, says Emergen Research
Vancouver, British Columbia, March 23, 2021 (GLOBE NEWSWIRE) — The global logistics robots market size was USD 5,512.6 Million in 2020 and is expected to reach USD 14.93 Billion in 2027 at a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady growth of the logistics robots market can be attributed to growth of e-commerce channels and sales, and need to ensure improved worker safety and reduce risks and potential injuries at warehouses and storage sheds. Streamlined logistic operations are essential for growth of the e-commerce sector, as hurdles in logistics can create issues, including incorrect product delivery, damaged consignment, lost packages, and improper packaging.
The use of logistics robots enhances the capabilities and capacities in managing massive online order volume and coordinating with warehouse operations and products etc. Rapid Internet proliferation and growing inclination for online shopping are key factors projected to boost growth of the e-commerce sector globally. Increasing focus by e-commerce companies on packaging quality improvement and on-time package delivery to achieve a competitive edge over offline retail stores is another key factor supporting market growth. Rising demand for more stock-keeping units and swift processing of returns are some other factors driving demand for deployment of logistics robots in the e-commerce sector.
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Some Key Highlights in the Report
- In December 2020, Hyundai Motor Group announced the acquisition of a controlling interest in Boston Dynamics, which is a mobile robot company, for USD 1.10 Billion.
- Autonomous mobile robots, similar to automated guided vehicles, use sensor technology for handling flow of materials in warehouses. However, unlike automated guided vehicles that follow a preset route, autonomous mobile robots understand their surroundings through the use of maps and onboard sensors and related technologies.
- Logistics robot palletizing technology improves productivity and profitability in warehouse and logistics companies. A logistics robot with a built-in palletizing capability enables efficient loading and unloading of items without requiring too much learning time. Also, the palletizing functionality of logistics robots can be scaled up as and when required.
- North America dominated other regional markets in the global market in 2020 owing to increase in number of warehouses and distribution centers in countries in the region. In addition, growing investment in smart factory development, warehouse automation, and Industry 4.0 are other factors causative of high revenue growth of the market in the region.
- Major companies operating in the logistics robots market include Clearpath Robotics Inc., Omron Corporation, Alstef Group, Midea Group, ABB Ltd., Toshiba Corporation, Kion Group AG, Teradyne Inc., Kawasaki Heavy Industries Ltd., and Toyota Industries Corporation.
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Emergen Research has segmented the global logistics robots market in terms of robot type, application, industry verticals, and region:
- Robot Type Outlook (Revenue, USD Million; 2017–2027)
- Automated Guided Vehicles
- Robot Arms
- Autonomous Mobile Robots
- Application Outlook (Revenue, USD Million; 2017–2027)
- Palletizing & De-palletizing
- Pick & Place
- Industry Verticals Outlook (Revenue, USD Million; 2017–2027)
- E-commerce & Retail
- Food & Beverage
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- Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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