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Logistics Robots Market to Exhibit 16.4% CAGR till 2028; Rising Investments in Autonomous Warehouses by Companies to Bolster Growth

May 04, 2021 | Machinery & Equipment

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:


https://www.fortunebusinessinsights.com/logistics-robots-market-102923


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:



  • November 2019: OMRON Corporation started selling LD-250, its latest mobile robot with a payload capacity of 250kg. It is considered to be the newest and strongest addition to OMRON’s line of mobile robots. These robots will be used to transport huge automobile components, such as voluminous packaging materials and transmission blocks.


Major Logistics Robots Providers Operating in the Global Market:



  • ABB (Zurich, Switzerland)

  • TOYOTA INDUSTRIES CORPORATION (Aichi, Japan)

  • Kawasaki Heavy Industries, Ltd. (Tokyo, Japan)

  • FANUC CORPORATION (Yamanashi, Japan)

  • Vecna Robotics (Waltham, United states)

  • KUKA AG (Augsburg, Germany)

  • Yaskawa America, Inc. (Waukegan, United States)

  • Dematic (Atlanta, United States)

  • Krones AG (Neutraubling, Germany)

  • I.M.A. INDUSTRIA MACCHINE AUTOMATICHE S.P.A. (Bologna, Italy)

  • Columbia/Okura LLC (Vancouver, United states)

  • IAM Robotics (Pittsburgh, United States)

  • TOSHIBA CORPORATION (Tokyo, Japan)

  • Teradyne Inc. (North Reading, United States)

  • OMRON Corporation (Kyoto, Japan)

  • Asic Robotics AG (Burgdorf, Switzerland)

  • The Hi-Tech Robotic Systemz (Gurgaon, India)

  • Bastian Solutions, Inc. (Indianapolis, United States)

  • Daifuku Co., Ltd. (Osaka, Japan)

  • Vanderlande Industries B.V. (Veghel, the Netherlands)

  • KION GROUP AG (Frankfurt, Germany)


Further Report Findings:



  • North America dominated this market in 2020. This growth is attributable to heavy investments by companies in smart factories and automated warehouse systems. At the same time, the rising construction of distribution centers and warehouses in the region is set to aid regional growth.

  • Asia Pacific held USD 1.78 billion in 2020 in terms of revenue. China is considered to be the major contributor to this growth backed by the presence of renowned companies, such as FANUC Corporation, KION Group AG, and ABB. Additionally, the surging adoption of these robots in a wide range of industries, such as electronics, automotive, chemicals, and logistics in China.

  • By type, the automated guided vehicles held 45.4% and 49.3% in terms of the logistics robots market share globally and in China, respectively in 2020. These vehicles can easily identify products labeled with RFIDs and barcodes and place them in the correct location.


The global market can be segmented in this way:




























































  ATTRIBUTE



  DETAILS


 

Study Period



   2017 – 2028


 

Base Year



   2020


 

Forecast Period



   2021 – 2028


 

Historical Period



   2017 – 2019


 

Unit



   Value (USD Billion)


 

Segmentation



    Type, Application, Industry and Region


 

By Type




  • Automated Guided Vehicles

  • Autonomous Mobile Robots

  • Robot Arms

  • Others (UAV's)


 

By Application




  • Palletizing & De-palletizing

  • Pick & Place

  • Transportation

  • Others (Shipment & Delivery, etc.)


 

By Industry




  • E-commerce

  • Healthcare

  • Retail

  • Food & Beverages.

  • Automotive

  • Others (Consumer Electronics, and others)


 

By Region




  • North America (By Type, Application, Industry and Country)

    • U.S. (By Type)

    • Canada (By Type)



  • Europe (By Type, Application, Industry and Country)

    • Germany (By Type)

    • U.K. (By Type)

    • France (By Type)

    • Rest of Europe



  • Asia Pacific (By Type, Application, Industry and Country)

    • China (By Type)

    • India (By Type)

    • Japan (By Type)

    • Southeast Asia (By Type)

    • Rest of Asia Pacific



  • The Middle East & Africa (By Type, Application, Industry and Country)

    • South Africa (By Type)

    • GCC (By Type)

    • Rest of the Middle East & Africa



  • Latin America (By Type, Application, Industry and Country)

    • Brazil (By Type)

    • Mexico (By Type)

    • Rest of South America




Logistics Robots Market
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