"We Envision Growth Strategies Most Suited
to Your Business"
The global logistics robots market size is estimated to hit USD 17.82 billion in 2028 from USD 6.17 billion in 2021. Several logistics providers nowadays are investing huge sums to encourage people to adopt autonomous warehouses. In 2019, for instance, XPO Logistics invested approximately USD 550 million on a yearly basis to deploy industry-leading innovations across Europe and North America. Fortune Business Insights™ published this information in a recent study, titled, “Logistics Robots Market Size, Share & COVID-19 Impact Analysis, By Type (Automated Guided Vehicles, Autonomous Mobile Robots, Robot Arms and Others), By Application (Palletizing & De-palletizing, Pick & Place, Transportation, and Others), By Industry (E-commerce, Healthcare, Retail, Food & Beverages, Automotive and Others) and Regional Forecast, 2021-2028.” As per the study, the market stood at USD 5.38 billion in 2020 and is likely to exhibit a CAGR of 16.4% in the forecast period between 2021-2028
ABB and Covariant Enter Joint Venture to Develop AI Robotic Solutions
In February 2020, Covariant, a start-up providing artificial intelligence-based software solutions entered a joint venture with ABB to unveil AI robotic solutions for the e-commerce industry. Both companies aim to offer a dynamic environment where smart robots would operate simultaneously with human beings. They would also help to refine all the complicated tasks. The solution is best suited for installations in logistics, warehousing, mail sorting, parcels, and others similar fields. Hence, it would generate more revenue and lower labor cost in the next five years.
As per one of the company officials, “The implementation of artificial intelligence in the real world is the best way of its promotion in a practical manner. It should not remain and rot in laboratories. Our new joint venture will enable consumers to gain access to AI robotics solutions for creating a smart future. Such initiatives by prominent companies are set to boost the logistics robots market in the forthcoming years.
To get a detailed report summary and research scope of this market, click here:
Increasing Need to Get Real-time Updates of Operations will Spur Demand
At present, the e-commerce sector is booming because of the rising usage of the internet and smartphones across the globe. Integrating digital automation effectively can prove to be beneficial by delivering real-time information regarding ongoing operations. Therefore, various logistics and manufacturing companies are implementing logistics robots to gain access to the crucial data associated with multiple tasks. Also, the e-commerce sector is demanding for such solutions to keep up with the delivery times.
However, small and medium scale retailers are incapable of investing hefty amounts in such robots, which, in turn, compel them to hire laborers so that they can perform repetitive tasks at distribution centers and warehouses. It may obstruct the logistics robots market growth in the upcoming years.
Leading Market Participants Aim to Enhance Portfolios through Acquisitions
The market contains various companies that are adopting various organic and inorganic strategies to increase their sales. They are also engaging in contracts and agreements, joint ventures, and mergers & acquisitions to enhance their existing portfolios and broaden geographically. Vecna Robotics, for instance, generated the highest share because of its possession of a unique supply chain that provides robotic warehouse systems.
A Notable Industry Development:
Major Logistics Robots Providers Operating in the Global Market:
Further Report Findings:
The global market can be segmented in this way:
2017 – 2028
2021 – 2028
2017 – 2019
Value (USD Billion)
Type, Application, Industry and Region