Innovations in Automation Technology to Extensively Contribute towards the Global Warehouse Robotics Market Growth
Inkwood Research estimates that the Global Warehouse Robotics Market is evaluated to register a CAGR of 13.89% in terms of revenue during the forecasting years of 2021-2028.
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Warehouse robotics entails the use of robots and
automated systems, in addition to specialized software to perform multiple
tasks, transport resources, as well as automate or
streamline warehouse processes. The expansion of commercial
industries has led to the introduction of diverse technological innovations. These
developments are integrated into the value chain in order to intensify
manufacturing and fulfill the increasing demands of consumers.
Innovations
in Automation Technology to Fuel Market Growth
The adoption of innovative automation technologies continues
to gain prominence. As a result, robots are no longer found only on the
production lines of automotive industries, performing repetitive tasks. Moreover,
a new generation of affordable, innovative, flexible, and collaborative robots
have entered warehouses, employed in applications across the supply chain.
Warehouse robotics has considerably increased in flexibility, owing to which,
their integration does not necessitate structural changes. Hence, the
innovations in automation technology are set to play an essential role in
propelling market growth.
Pick &
Place is set to be the Dominating Function
In terms of the pick & place segment, a robot is utilized
to pick up an object or material and place it in the desired location. Besides,
it is the most common and typical task performed in a warehouse. The majority
of pick & place applications are run autonomously by robots. Consequently,
this aspect improves productivity and increases flexibility by saving time and liberating
work personnel for more crucial tasks. Pick & place can be performed by
fixed, mobile, Cartesian, and stationery articulated robots.
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North
America Held the Highest Market Share in 2020
North America is one of the prominent markets for warehouse
robotics, owing to the increasing automation rates across industry verticals
like pharmaceuticals, e-commerce, automotive, and food & beverage. The
region also has numerous advanced technological capabilities, further enabling
the automation of multiple divisions. North America witnessed a sharp rise in
warehouse leasing, especially from logistics players in the region. The growing
service levels, such as same-day delivery and e-commerce, encourage retailers
to outsource their respective services.
In addition to new entrants, numerous market incumbents
continue vying for market domination within the global warehouse robotics
market. Although the market penetration is moderate, it is projected to grow
rapidly over the upcoming years. The global market is anticipated to observe increased
adoption across the industrial and commercial segments, as well.
Key companies operating in the market include Honeywell
International Inc, 6 River Systems, Amazon Robotics, ABB Ltd, etc.
About Inkwood Research
Inkwood Research specializes in syndicated & customized
research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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