Warehouse Automation Market to be Dominated by Growing Use of Automated Storage & Retrieval Systems (AS/RS) Across the Globe
Increasing growth of the E-Commerce
industry are driving the implementation of the Warehouse Automation market
across the globe.
According to TechSci Research report, “Warehouse
Automation Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028F”, The global Warehouse Automation market
is growing owing to rising growth of the E-Commerce Industry. Manufacturers are
significantly integrating new technologies, including Internet of Things, Cloud
Computing, Analytics, Artificial Intelligence, and Machine Learning into their
production facilities and throughout their operations to cater the customer
needs and market requirements. Moreover, the growing autonomous drones for warehouse
management and the growing collaboration within enterprises for simplifying the
warehouse processes are further responsible for the growth in the global warehouse
automation market.
Warehouse automation is the process of
automating inventory movement into, within, and out of warehouses to customers
with the least amount of human intervention. Companies are progressively using automated
solutions to eliminate errors and improve technology investments, and
hyperautomates digital workflows. The digital transformation and Industry 4.0
continue to revolutionize the way companies manufacture, improve, and
distribute products. Automation does also play a great role in enterprise
solutions for streamlining business operations, maximizing workforce capacity
and efficiency, eliminating errors, and improving technology investments, while
also hyperautomating digital workflows. In addition, warehouse automation also
assist in lowering the cost of difficulties caused by human mistakes with the
use of autonomous drones, cobotics, etc. Moreover,
the modernization for warehouse management simplifies intralogistics
and automatically checking inventories processes are also
expected to witness significant demand in the future.
With the outbreak of the COVID-19
pandemic, warehouse automation technology has been rapidly deployed by numerous
organizations to minimize or eliminate the manual workload within the warehouse
and logistics. Despite the temporary reduction in ecommerce and retail caused
by the lockdown imposition and economic distress in the COVID-19 pandemic,
there is an increase in warehouse automation and robotics technology. Various businesses
such as pharmaceuticals and grocery store have implemented automation
technologies in the warehouse and logistics to reduce the time for production
and operation activities and to further cater the supply chain demand during
the pandemic. Moreover, with the enormous benefits of warehouse automation, the
service providers and operators have seen an accelerating growth in the
adoption of advanced automated technology to overcome the burden of customer
preference, along with the minimal availability of service providers during the
pandemic.
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Based on product, the market is
segmented into hardware, software, and service. Based on automation level, the
market is segmented into system automation, mechanized automation,
semi-automated, and fully automated. Based on technology, the market is
segmented into automated storage and retrieval systems (AS/RS), autonomous
mobile robots (AMRs), automatic guided vehicles (AGVs), MRO outbounds, automatic
identification and data capture and others. Based on application, the market is
segmented into automotive, food and beverage, e-commerce, pharmaceutical, and others.
Based on vertical, the market is further split into retailers, manufacturers,
and distributors. Based on region, the market is divided among North America,
Europe, Asia-Pacific, South America, and Middle East & Africa.
The e-commerce segment dominated the warehouse
automation market in 2022 and is expected to maintain its dominance during the
forecast period, owing to the widespread usage of warehouse automation in
e-commerce facilities and the increased vendor knowledge of the robotics of
various e-commerce fulfilment issues. Because of the rise in e-commerce
activity and the spread of robot technology in e-commerce warehouses,
e-commerce applications are also becoming increasingly popular in the warehouse
automation sector. Hence, it is anticipated that these advantages provided by
warehouse automation to e-commerce fulfilment centers would obtain a sizable
profit share throughout the projection period, accelerating the segmental
growth.
The automated storage & retrieval
systems (AS/RS) segment is expected to register lucrative growth during the
forecast period. This category comprises stacker cranes, which are renowned for
their capacity and agility while storing and retrieving goods from the racks,
for both boxes (miniload) and pallets. Pallets are automatically inserted into and
removed from the racks by trilateral AS/RS stacker cranes as they travel
vertically and horizontally through the storage lanes. Due to their numerous
benefits, which are anticipated to propel market revenue development, companies
with significant inbound and outbound flows of products are investing in
cutting-edge storage robots. Automated storage and retrieval systems are
assisting in reducing the variable cost of operations by removing the need for
manual labour for tasks like picking, storing, assembling, and inventory
replenishment. Furthermore, Automated guided vehicles (AGVs) warehouse automation
by technology is expected to acquire high traction in the warehouse automation
market owing to the growing utilization of such vehicles like ABB Flexley Stack,
etc. for movements of goods and predetermined and programmed capability to
travel within distant points.
Key market players in 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
- Fanuc Corporation
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“The North America region shows
substantial growth prospects for warehouse automation which can be attributed
to the significant benefits it offers to enterprises, including improved
customer satisfaction, augmented staffing, increased accuracy, reduced
operating costs, and enhanced operating efficiency. The warehouse automation is
gaining traction and is expanding to various countries in North America,
including the United States, Canada, and Mexico. Owing to the early adoption of
technologies such as robotics, drones, cloud computing and artificial
intelligence coupled with the massive number of companies present in the country,
the United States leads the market and is expected to continue its dominance in
global warehouse automation market during the forecast period as well,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Warehouse Automation
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028F, Segmented By Product (Hardware, Software,
Service), By Automation Level (System Automation, Mechanized Automation, Semi-Automated,
Fully Automated), By Application (Automotive, Food and beverage, E-Commerce, Pharmaceutical,
Others), By Vertical (Retailers, Manufacturers and Distributors), By Region, Competition Forecast
& Opportunities, 2028F”, has evaluated the future growth potential of warehouse automation
and provides statistics and
information on market structure, size, share, and future growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the global warehouse automation market.
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