Warehouse Automation Market Size Is Projected to Reach $30.69 Billion By 2028 | CAGR: 14.2% : PMR – Yahoo Finance

NEW YORK, Nov. 24, 2021 /PRNewswire/ -- The global warehouse automation market size is expected to reach USD 30.69 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 14.2% from 2021 2028. The growth of the global market is primarily driven by the increasing adoption of automation and robotics in different end-user industries with the support of continuous development in the field of technology. Additionally, increasing incidences of accidents in industrial workplaces are among the major factor that drives significant growth for the market. Moreover, rising government programs focused on industrial automation technology and increasing R&D investments further complement the market growth.

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Key Highlights of Warehouse Automation Market

In terms of technology, the Automated Storage and Retrieval System (AS/RS) emerged as the most prominent segment and accounted for the largest market share. The AS/RS system primarily provides extraordinary benefits to warehouse managers, such as cutting labor and energy expenses while also encouraging space utilization and avoiding product damage.

Based on application, the e-commerce segment dominated the warehouse automation market, owing to the increased vendor knowledge of the robotics of various parts of e-commerce fulfillment, there has been widespread application of warehouse automation in e-commerce facilities.

Honeywell will establish an advanced warehouse automation R&D facility in the Czech Republic. Honeywell is establishing Central and Eastern Europe as a key warehouse automation hub with the opening of a new development site, which will allow enterprises throughout the continent to test, prototype, and train clients on Honeywell's cutting-edge material handling hardware and software solutions.

DSV, a transport and logistics company, plans to make warehouse automation more accessible to businesses of all sizes. DSV will invest in 20 automated fulfillment centers across North America, Europe, and the Asia Pacific. DSV will be able to offer warehouse automation to various sized businesses, including B2C and B2B, thanks to the large-scale multi-user facilities.

Regional Developments

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The Asia Pacific region's market is expected to grow significantly throughout the forecast period, owing to rapid industrial development, a developing automotive industry, and a demand for improved material handling solutions in the region. Furthermore, the rising consumer products manufacturing industry in countries such as India, Japan, Korea, and China is expected to drive warehouse automation market expansion. The market in North America is expected to obtain the highest market share over the projection period, owing to the increased adoption of robots and automation technologies, as well as higher labor costs in the region.

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Competitive Outlook

Warehouse automation businesses are constantly innovating to make supply chains and logistics a vital part of global e-commerce. As transportation costs continue to reduce, the origin of manufacturing remains important for the majority of products. As a result, we will see a continuous emphasis on increasing openness and automation in supply chains. The pandemic's influence on the warehouse business will have long-term consequences for the industrial sector. Concerns about worker safety, as well as the need to keep up with the boom in e-commerce orders, highlighted the need for increasing warehouse automation. Schaefer Systems International Pvt Ltd, Armstrong Ltd., Daifuku India Private Limited, GreyOrange, Falcon Autotech Private Limited, KNAPP Group, Addverb Technologies Private Limited, Hinditron Group, Bastian Solution Private Limited, Honeywell International, The Hi-Tech Robotic Systemz Limited, Kardex India Storage Solutions Private Limited, Kion Group, KUKA Group, Muratec, Richfield Automation Ltd, Space Magnum Equipment, and Godrej Consoveyo Logistics Automation Ltd. are some of the key players operating in the global industry.

Target Audience

Supply Side: Automation Solutions Provider

Demand Side: Apparel Industry, Ecommerce Sector

Regulatory Side: Warehousing Development and Regulatory Authority

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Polaris Market Research has segmented the warehouse automation market report on the basis of type, technology, application, and region:

Warehouse Automation, Type Outlook (Revenue, USD Billion, 2016 2028)

Basic Warehouse

Warehouse System

Mechanized Warehouse

Advanced Warehouse

Warehouse Automation, Technology Outlook (Revenue, USD Billion, 2016 2028)

Automated Storage and Retrieval Systems (AS/RS)

Automatic Guided Vehicles (AGVs)

Autonomous Mobile Robots (AMRs)

Voice Picking and Tasking

Automated Sortation Systems

Others

Warehouse Automation, Application Outlook (Revenue, USD Billion, 2016 2028)

E-commerce

Grocery

Apparel

Food & Beverage

Pharmaceutical

Warehouse Automation, Regional Outlook (Revenue, USD Billion, 2016 2028)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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Warehouse Automation Market Size Is Projected to Reach $30.69 Billion By 2028 | CAGR: 14.2% : PMR - Yahoo Finance