Wilmington, Delaware, United States, July 25, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global industry was estimated to be worth USD $43.8 billion in 2022. It is expected to grow at a CAGR of 9.3% from 2022 to 2031, reaching US$ 94.7 billion by the end of 2031.
Significant manufacturing of consumer goods rates, a rise in e-commerce operations, escalating shortages of labor and increasing labor expenses, cloud-based structure for WMS & TMS over conventional WMS, and breakthroughs in robotics & artificial intelligence (AI) are among the key factors driving global warehouse automation solutions market demand.
Worldwide demand for consumer goods tends to rise, resulting in higher rates of manufacturing. The consumer items industry is predicted to perform well financially over the next 12 months. The global market for consumer products and fast-moving consumer goods (FMCG) is constantly evolving to meet shifting customer needs and trends.
Another benefit of integrating automation in consumer products storage facilities is a substantial decrease in industrial workers' typical weekly work hours. The average workweek in 1900 was roughly 70 hours. Nevertheless, as technology has advanced, the usual workweek in the United States has been lowered to roughly 40 hours. As a result, the increasing rate of manufacturing for consumer goods is predicted to drive the worldwide warehouse automation solutions market value throughout the forecast time frame.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 43.8 Bn | |
| Estimated Value | US$ 94.7 Bn | |
| Growth Rate - CAGR | 9.3% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 260 Pages | |
| Market Segmentation | By Offering, Application, Industry Vertical | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | ABB, ATS Automation Tooling Systems Inc., Beumer Group, FANUC America Corporation, Fortna, Inc., ForwardX Robotics, Geekplus Technology Co., Ltd., HAIROBOTICS, InVia Robotics, KUKA AG, Locus Robotics, Multiway Robotics (Shenzhen) Company, Murata Machinery Ltd., Omron Corporation, Prime Robotics, RightHand Robotics, Inc., Sage Automation Inc., Schneider Electric, Yaskawa Electric Corporation, Zebra Technologies | |
Key Takeaways from the Market Report
- The automated storage and retrieval system (ASRS) sub-segment held a 26.8% share of the hardware segment in 2022.
- The ASRS sub-segment is expected to grow at a CAGR of 12.5% during the projection period.
- The WMS (warehouse management system) and WES (warehouse execution systems) sub-segments led the software segment, accounting for 59.1% of the market in 2022.
- According to warehouse automation solutions market trends, North America accounted for 34.0% of the worldwide market in 2022.
- Europe held a 20% share of the global market in 2022.
Warehouse Automation Solutions Market: Prominent Drivers and Trends
- In regards to the offering, the automated storage and retrieval system (ASRS) sub-segment comprised a significant portion of the hardware segment in 2022. This is credited with an increase in demand for sophisticated ASRS systems as a result of the requirement to maximize space use.
- The rapid growth of the e-commerce business as a result of the continuous digitalization development has also resulted in an increase in demand for ASRS. These systems are presently in high demand in a variety of sectors, such as automobiles food and beverage, medicinal products, and personal care. ASRS has numerous advantages, making them very appealing to enterprises.
- Multiple variables are driving the warehouse automation industry, including the rising complexity of production, the swift expansion of the e-commerce business, and the accessibility of modern technology. Warehouse automation has numerous benefits, including lower overall business expenditures and fewer product delivery problems.
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Warehouse Automation Solutions Market: Regional Analysis
- Europe and North America are important hubs for technological advancement and research, drawing a large number of organizations. As the United States takes on the fifth industrial revolution, which will be associated with the intensive utilization of information for manufacturing strategy and implementation, the need for effective warehouse automation systems connected to multiple manufacturing facilities across the distribution network is expected to rise.
- Asia Pacific is expected to give lucrative prospects for automation solution suppliers throughout the anticipated time frame. This is attributed to the major growth and rise of industrial control and automated manufacturing technologies and the region's burgeoning warehouse sector. As the principal customer of such systems, Asia Pacific's expanding warehouse sector presents a stimulus for warehouse automation solutions market expansion.
Competitive Landscape
Transparency Market Research has profiled the following players in its global warehouse automation solutions market report:
- ABB
- ATS Automation Tooling Systems, Inc.
- Beumer Group
- FANUC America Corporation
- Fortna Inc.
- ForwardX Robotics
- Geekplus Technology Co. Ltd.
- HAIROBOTICS
- InVia Robotics
- KUKA AG
- Locus Robotics
- Multiway Robotics (Shenzhen) Company
- Murata Machinery Ltd.
- Omron Corporation
- Prime Robotics
- RightHand Robotics Inc.
- Sage Automation Inc.
- Schneider Electric
- Yaskawa Electric Corporation
- Zebra Technologies.
The worldwide warehouse automation solutions industry is extremely fragmented, with reputable firms holding a significant portion of the market share. Corporations are devoting significant resources to comprehensive R&D efforts aimed at developing fully automated, accurate, and sustainable technologies.
- Honeywell, Inc. developed an innovative automated system in September 2022 with the goal of assisting distribution networks and warehouse establishments in automating the human activities associated with transferring and unloading pallets at storage facilities.
- Universal Robots A/S boosted its product selection in June 2022 by introducing the in 20kg Cobot. Because of its improved joint design, this latest update delivers excellent performance. The new joints provide a remarkable 25% rise in joint torques and up to a 65% rise in joint speeds, establishing the latest standard in cobot capacities.
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Warehouse Automation Solutions Market: Key Segments
Offering
- Hardware
- Automated Conveyors and Sortation Systems
- Overhead Systems
- Gantry Robots
- Automated Storage and Retrieval System (ASRS)
- Autonomous Guided Vehicles (AGV)
- Autonomous Mobile Robots (AMR)
- Order and Piece Picking Robots
- Others (RFID Scanners and Readers, etc.)
- Software
- WMS (Warehouse Management System) and WES (Warehouse Execution Systems)
- TMS (Transportation Management System)
- Automatic Identification and Data Capture (AIDC)
- Services
- Training & Consulting Services
- Repair & Maintenance Services
Application
- Palletizing & Depalletizing
- Loading & Unloading
- Sortation & Storage
- Pick & Place
- Others (replenishment, packaging, etc.)
Industry Vertical
- Food & Beverage
- FMCG
- Non-durable Goods
- Durable Good
- Fashion & Apparel
- Pharmaceutical
- Automotive
- Retail
- 3PL
- Others (petrochemicals, healthcare, etc.)
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
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