Logistics Robotics Market to Garner $27.8 Billion, Globally, By 2031 at 16.2% CAGR: Allied Market Research

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Oct 28, 2022, 10:00 ET

Rise in need for safety among workers in workplace and surge in demand from online retailers have boosted the growth of the global logistics robotics market.

PORTLAND, Ore., Oct. 28, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Logistics Robotics Market By Type (Automated Guided Vehicles, Autonomous Mobile Robots, Robot Arms, and Others), Function (Pick and Place, Palletizing and Depalletizing, Transportation, and Packaging), End User (Healthcare, Warehouse, Hospitality, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global logistics robotics industry accounted for $6.3 billion in 2021, and is expected to reach $27.8 billion by 2031, growing at a CAGR of 16.2% from 2022 to 2031. The report provides an in-depth analysis of changing market trends, key investment pockets, top segments, regional landscape, value chain, and competitive scenario.

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Major determinants of the market growth

Rise in need for safety among workers in workplace and surge in demand from online retailers have boosted the growth of the global logistics robotics market. However, high initial acquisition cost and challenges while working in untested environments hinder the market growth. On the contrary, advent of industry 4.0 into logistics and warehousing and growth of logistics robots in developing economies would open new opportunities in the future.

Report Coverage and Details:

Report Coverage	Details
Forecast Period	2022–2031
Base Year	2021
Market Size in 2021	$6.3 billion
Market Size in 2031	$27.8 billion
CAGR	16.2 %
No. of Pages in Report	294
Segments Covered	Type, Function, End User, and Region
Drivers	Increase in need for safety among workers in the workplace
Drivers	Rapid rise in demand from online retailers
Opportunities	Emergence of industry 4.0 into logistics and warehousing
Restrains	High initial cost of acquisition

COVID-19 Scenario:

The logistics robotics market severely affected due to Covid-19 pandemic, due to strict government regulations and extension of lockdown. Moreover, the restrictions of import-export of non-essential items and halted production and manufacturing activities due to lack of labor hampered the market growth.
The prolonged lockdown disrupted the supply chain and affected various stages of value chain including OEMs, suppliers, integrators, end users, and distributors.
Major players operating in the market temporarily witnessed a slowdown owing to to dearth of availability of skilled professional to develop logistics robotics solution.

The automated guided vehicles segment dominated the market growth

By type, the automated guided vehicles segment held the largest share in 2021, accounting for more than two-fifths of the global logistics robotics market, and is estimated to dominate the market throughout the forecast period. In addition, the segment is expected to register the highest CAGR of 17.1% during the forecast period. Industries are focusing on improving workplace safety to eliminate accidents, reduce downtime, and increase productivity. There is growing awareness about AGVs, and an increasingly large number of companies are implementing AGVs in their warehouses.

The pick and place segment to manifest the highest CAGR through 2031

By function, the packaging segment is expected to register the highest CAGR of 17.53% during the forecast period. Packaging has been an integral part of the supply chain, which is why it is integrated with warehousing. Swiftness, quality, cost-efficiency in packaging, complexity, and innovation in packaging, especially in pharmaceutical and food & beverage by robot fuels the growth of robotics in warehouses. However, the pick and place segment held the largest share in 2021, contributing to nearly one-third of the global logistics robotics market.

The warehouse segment held the lion's share

By end user, the warehouse segment dominated the market in 2021, accounting for more than half of the global logistics robotics market, and is expected to continue its dominance from 2022 to 2031. Factory or warehouse robot can plan their own path, move quickly, and offer greater flexibility and potential than traditional transportation methods. This provides lucrative opportunities for logistics robotics in factory/warehouses as it reduces warehouses management cost, provides goods picking precision among others. However, the hospitality segment is estimated to showcase the highest CAGR of 18.33% during the forecast period. Delivery robot are an emerging technology that assists hotels drive revenue while improving facilities among their competitors, guest's appearances, and staff productivity.

Asia-Pacific held the largest share

By region, the market across Asia-Pacific dominated the market in 2021, holding around half of the global logistics robotics market, and is expected to dominate in terms of revenue during the forecast period. Asia-Pacific is the largest manufacturer of electronic & electrical goods and metal & machinery goods. Japan and China lead the industrial automation market. Warehouse robotics can help companies reduce overhead costs and increase productivity with consistency and accuracy. All these factors create lucrative opportunities for Asia-Pacific in logistics robotics market. However, the market across North America is expected to register the highest CAGR of 17.93% during the forecast period. This is due to increase in competitiveness among the players in these industry verticals and high cost of labor in North America. In addition, the e-commerce, automotive, pharmaceutical, and food & beverage industries drive the market growth. The report includes analysis of the market across Europe, Asia-Pacific, and LAMEA.

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Major Market Players

ABB
Toyota Industries Corporation
Kawasaki Heavy Industries, Ltd.
Fanuc Corporation
Vecna Robotics
KUKA AG
Yaskawa America, Inc.
Toshiba Corporation
Dematic
OMRON Corporation

The report analyzes these key players of the global logistics robotics market. These companies have adopted several strategies such as expansion, partnerships, new product launches, collaborations, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.

Key Benefits For Stakeholders:

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the logistics robotics market analysis from 2021 to 2031 to identify the prevailing logistics robotics market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the logistics robotics market outlook assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global logistics robotics market trends, key players, market segments, application areas, logistics robotics market forecast and market growth strategies.

Logistics Robotics Market Key Segments:

By Type:

Autonomous Mobile Robots
Robot Arms
Others
Automated Guided Vehicles

By Function:

Pick and Place
Palletizing and Depalletizing
Transportation
Packaging

By End User:

Healthcare
Warehouse
Hospitality
Others

By Region:

North America (U.S., Canada, and Mexico)
Europe (Germany, Italy, France, Spain, U.K., Russia, and Rest of Europe)
Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific)
LAMEA (Latin America, Middle East and Africa)

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