As e-commerce thrives, demand for warehousing will increase and that will lead to growth in warehouse robotics market. Over the past few years, warehousing has been propelled onto a high growth trajectory, credit growing demand for warehouses by these players in the e-commerce sphere looking for reliable solutions.
It has been noted that as economies do better, e-commerce makes shopping globally simpler, volumes dealt with have dramatically shot up. Also, the reduction of need for manual labor in a number of tasks saves big bucks and allows for better results. Labor can now be used in other more critical areas that need human touch.
It is pertinent to note here that use of robotics across industry verticals – from automotive and pharmaceutical to food and beverages, electronics and electrical, and e-commerce – is catching on for reasons such as precision and consistency in performance.
And, thus it does not come as a surprise that the global warehouse robotics market is set to witness a healthy CAGR (Compound Annual Growth Rate) of 12.0% over the forecast period of 2019 to 2027, pulling up the market worth to USD 9579.3 million by the end of this period.
It is pertinent to note here that the one factor that might restraint growth of the global warehouse robotics market is the lack of awareness and steep costs of deploying robotics. Also, training that comes with it is expensive. However, technological advancement and large scale demand for robotics is all set to offset the negative impact.
Asia Pacific to Chart Significant Growth over the Forecast Period
The Asia Pacific region is set to monopolize the global market for warehouse robotics. One of the biggest reasons supporting this growth is the strong economic performance demonstrated by the nations flanking the region, leading to improved standard of living and rise in disposable incomes. There is also a massive growth in number of e-commerce websites and the mushrooming of these is only increasing in pace with time.
Other important regions that will generate strong growth figures is North America and Europe, owing to a deep culture of consumerism and a high level of disposable incomes.