A growing number of warehousing and logistics companies are incorporating robots to reap the benefits of speed, efficiency, and increased profits to remain competitive in a market driven in large part by consumers that demand rapid fulfillment. At the same time, robotic warehousing and logistics technologies are advancing in capability and becoming more affordable each year. According to a new report from Tractica, the demand for robots and the supply of advanced robotic solutions for the optimization of logistics processes, combined with labor shortages, have created a tipping point that could lead to widespread adoption of robots in warehouses and logistics operations to assist and displace human workers.
Tractica forecasts that worldwide shipments of warehousing and logistics robots will grow rapidly over the next 5 years from 194,000 units in 2018 to 938,000 units annually by 2022. The market intelligence firm anticipates that the rate of growth will begin to slow after 2021 as many major market players will have adopted robotic systems by then. Tractica estimates that worldwide revenue for this category will increase from $8.3 billion in 2018 to $30.8 billion in 2022, providing significant opportunities for established participants and emerging players.
“The warehousing and logistics robot market is experiencing strong growth, and supply chains are being transformed as companies replace fixed infrastructure and outdated processes with flexible, scalable robotic solutions to meet the changing demands of modern commerce,” says senior analyst Glenn Sanders.
Tractica’s report, “Warehousing and Logistics Robots”, examines the market and technology issues related to warehousing and logistics robots, as well as the development of global markets with forecasts and analysis for the 5-year period from 2018 through 2022. The report addresses crucial market drivers and challenges, in addition to the most important technology issues that will affect market development. In total, 81 key and emerging industry players are profiled. Market forecasts are segmented by world region and robot type. An Executive Summary of the report is available for free download on the firm’s website.