PUNE, India, June 10, 2020
- Key Companies Covered in Logistics Robots Market Research Report are TOYOTA INDUSTRIES CORPORATION, ABB, FANUC, Kawasaki Heavy Industries, Ltd, Dematic, KUKA AG, Yaskawa America, Inc., Dematic, OMRON Corporation, Teradyne Inc., TOSHIBA CORPORATION, Other players
PUNE, India, June 10, 2020 /PRNewswire/ -- The global logistics robots market size is prophesied to reach USD 14.95 billion by the end of 2027. The growth of this region is attributed to the increasing demand for complex supply-chain operations. Logistics robots are autonomous devices that can transport resources present in a logistic network. They store and move goods that are widely used in storage facilities and warehouses. According to a recent report by Fortune Business Insights titled, "Logistics Robots Market Size, Share & Industry 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, 2020-2027," the market value was USD 4.70 billion in 2019 and is expected to rise at a CAGR of 15.7% between 2020 and 2027.
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Highlights of the Report
The report is based on qualitative and quantitative market analysis and discusses factors such as challenges, restraints, drivers, and opportunities. It also throws light on the main industry developments, current trends, and other interesting insights into the market. The report discusses the market segmentation in detail and lists the names and figures of the leading segment with market figures. Moreover, the report lists the names of players operating in the market and the important strategies adopted by them to stay put in the market competition. The report is available for sale on the company website.
Drivers & Restraints-
Boom in E-commerce Industry to Contribute Significantly to the Market
The increasing implementation of advanced technology in the goods and service sector is a key factor boosting the logistics robots market growth. In addition to this, the booming e-commerce industry is also expected to aid in the expansion of the market in the coming years. The rising number of consumers purchasing online is propelling retailers to acquire the automation process for tedious and uncomfortable tasks. Robotic solutions can also help to map the delivery timelines, thereby adding impetus to the market in the coming years.
On the contrary, setting up and maintenance costs of these robots is high especially in its initial stages, which poses a major challenge to the market. Also, the fact that small and medium scale retailers cannot invest in this solution may cause hindrance to the overall market in the coming years.
Automated Guided Vehicles Segment to Hold Dominance Due to their Free Mobility Functionality
Based on segmentation by type, the automated guided vehicles segment earned 44.4% logistics robots market share and emerged dominant. This is attributed to the fact that these vehicles are free to move around factories and warehouses and do not require any external infrastructure for operations. This, coupled with the presence of advanced technology is further expected to help this region continue dominating the market in the coming years.
North America to Dominate Owing to Presence of Smart Factories
Region-wise, North America earned a revenue of USD 1.48 billion and emerged dominant on account of the increasing construction of distribution centers and warehouses across the region. In addition to this, heavy investments in the development of smart factories, warehouses with automated systems, industry 4.0, and others are likely to aid in the expansion of the regional market in the coming years.
On the other hand, the Asia Pacific market is likely to witness a fast growth rate in the forecast period on account of the presence of notable players, rising e-commerce industry, and up-gradation of existing technologies.
Vecna Robotics Holding Prominent Shares Owing to Adoption of Multiple Marketing Strategies
Various companies are engaging in the adoption of various technologies for gaining a strong foothold in the market. They are also engaging in joint ventures, partnerships, contracts and agreements, and other collaborative efforts with startup companies to generate more revenue. Among the various players operating in this market, Vecna Robotics emerged dominant on account of the presence of their strong supply chain, coupled with their quick adoption of robotic warehouse systems and various other marketing strategies for rapid sales.
Major Industry Developments of the Logistics Robots Market include:
March 2018 – Midea Group Company and KUKA AG entered into a strategic collaboration for increasing their geographical presence and penetrating the China market for the manufacturing of new products.
September 2018 – Intrion Company was acquired by ABB for the advancement of its logistic robot solutions. The major aim of this acquisition is the delivery of a mass customer base to meet the growing demand of the e-commerce industry.
Fortune Business Insights™ lists out the names of market manufacturers. They are as follows:
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