Dublin, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The "Warehouse Automation Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The global warehouse automation market is poised for remarkable growth as it leverages the burgeoning e-commerce sector. Warehouse automation, which involves the seamless automation of inventory processes, is becoming increasingly crucial in enhancing efficiency and reducing operational costs in various industries.
Warehouse automation streamlines the movement of inventory into, within, and out of warehouses, minimizing human intervention. It eliminates labor-intensive tasks, manual data entry, and analysis, leading to improved data accuracy and analysis, reduced errors, and enhanced customer service and order fulfillment accuracy.
Key drivers contributing to the growth of the global warehouse automation market include:
- E-commerce Expansion: The rapid growth of the e-commerce industry is fueling the demand for warehouse automation. As consumer expectations for fast and accurate order fulfillment rise, companies are adopting highly automated technologies such as conveyors, automated sorters, Automated Guided Vehicles (AGVs), robotic picking systems, and automatic palletizers to expedite order processing and reduce costs.
- Technological Advancements: Continuous innovation is transforming modern warehouses with automation technologies such as cobotics, warehouse drones, and mobile shelving. Additionally, wireless fleet management and supply chain-as-a-service solutions are enhancing warehouse features.
- Enterprise Solutions: Automation plays a pivotal role in streamlining business operations, maximizing workforce capacity, eliminating errors, and enhancing technology investments. Software solutions like Automation 360, Blue Prism Intelligent Automation Platform, Kofax RPA, and UiPath Platform are enabling businesses to automate complex, less rule-based operations, leading to cost savings and improved efficiency.
- Growing Use of Robotics: Robotics is gaining prominence in warehousing operations. Robots help mitigate errors, reduce overhead costs, expedite order fulfillment, and improve inventory management. The adoption of robotics in warehousing is accelerating, with increasing investments by large enterprises to meet the demands of a growing economy.
- Internet of Things (IoT): IoT-based predictive maintenance and asset monitoring solutions are transforming warehouse operations by enabling real-time monitoring, predictive analysis, and proactive maintenance, ultimately enhancing efficiency.
The warehouse automation market has witnessed substantial growth in recent years, driven by the need for efficiency in fulfillment, inventory management, and distribution. The integration of automation systems has led to improved accuracy and quality in various processes, reducing operational costs and increasing demand for self-service operations.
Notable trends driving the warehouse automation market include:
- Growing Autonomous Drones: Autonomous drones are being used in warehouses to carry out inventory counts, simplifying intralogistics and automating inventory checks. Recent advancements in drone technology, such as optical navigation and sensors, have made drones a valuable tool for warehouse automation.
- Rise of Robotics: The use of robotics in warehousing operations is on the rise, with a focus on improving inventory management and order fulfillment. Robots offer significant value in terms of efficiency and error reduction.
- IoT-Powered Solutions: The expansion of IoT with predictive maintenance and asset monitoring solutions is creating opportunities for warehouse automation by enhancing data exchange, mobility, and connectivity.
Major players driving the global warehouse automation market include ABB Ltd., Bastian Solutions LLC, Yaskawa Electric Corporation, Siemens AG, Dematic Group (Kion Group AG), Daifuku Co. Limited, Swisslog Holding AG (KUKA AG), Honeywell Intelligrated (Honeywell International Inc.), Jungheinrich AG, and Fanuc Corporation.
Report Scope:
The global warehouse automation market is segmented by product (hardware, software, service), automation level (system automation, mechanized automation, semi-automated, fully automated), technology (AS/RS, AMRs, AGVs, MRO outbounds, automatic identification and data capture, others), application (automotive, food and beverage, e-commerce, pharmaceutical, others), vertical (retailers, manufacturers, distributors), and region (Asia-Pacific, North America, Europe, Middle East & Africa, South America).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $12.7 Billion |
| Forecasted Market Value (USD) by 2028 | $25.5 Billion |
| Compound Annual Growth Rate | 12.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/7iokl3
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