Warehouse Robotics Market is segmented based on type indicating that gantry systems are expected to grow at the highest rate over the forecast period. These are in demand due to the capacity of carrying and moving heavy loads and are comparatively smaller and lighter than articulated systems. Gantry systems save a large amount of labor and costs along with accelerating the production process. The mobile segment is anticipated to witness high revenue shares in the warehouse robotics market. These systems are an updated version of the automated guided vehicles that reduce the upfront capital expenditure and also provide high reliability over the conventional machines.
Global Warehouse Robotics Market is anticipated to witness a strong growth during the forecast timeframe. The replacement of traditional physical labor and machines by automated systems for performing warehousing operations such as receiving, packaging, and storing saves time, labor resources, and provides an increased performance. The rising adoption of these technologies by SMEs is a major driving factor for the warehouse robotics market growth. These companies are investing higher financial resources in automated machines owing to the advantages such as reduced labor cost, no need for skilled laborers, and enhanced work safety.
Additionally, these technologies have integrated sensors and can work in a highly mechanical environment without any obstacles, providing higher profit margins. Furthermore, in economies including India, start-ups have several provisions for their establishments such as tax exemptions, easy infrastructure provision, and aid in training activities. These governmental provisions for start-ups and small & medium enterprises are fueling the growth of the warehouse robotics market.
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The automotive segment of the warehouse robotics market is anticipated to hold large market shares over the forecast time. The growth is due to the implementation of automated guided moving systems that aid in the shifting of inventory and finished goods to different places in warehouses for the management of varied products available at these places. The food and beverage industry is a rapidly growing segment of the warehouse robotics market. The growth is due to the cost reduction in labor for freezing warehousing operations, creativity in the packaging of beverages, and ease in sorting and placement of grocery for food product manufacturers.
The U.S. held the highest revenues and growth shares in the recent years and is expected to dominate the warehouse robotics market over the forecast years. The major demand for these systems is increasing owing to labor shortages and high labor costs in this country. Countries including China and Japan in the Asia Pacific region are witnessing high growth opportunities in the warehouse robotics market. The Chinese government has funded an initiative called Made in China 2025, accelerating the automation of major industries such as retail, e-commerce, and manufacturing sectors and ensuring an increased implementation of automated systems.
Navigation in the dynamic warehouse environment is a major challenge affecting the warehouse robotics market. In large factories and storage locations, the environment is constantly changing due to the movement of products and continuously shifting columns of boxes, making it challenging for them to function in the environment. Item manipulation is an issue in the work operations of these systems. Unavailability of power resources and interruptions in power supply can cause system failures. High initial cost hinders the demand and growth of warehouse robotics market as the total cost of initially implementing these systems is higher over the efficiency and productivity obtained from the operations. The rapid advancement in the automation technology introduces new variations in these products causing existing technologies to become outdated at a very rapid rate and the need to be changed or upgraded regularly accounting for high costs.
Rising proliferation of cobots is projected to revolutionize the industry. These systems are the advanced version of traditional industrial systems developed for increased safety, ease of deployment, and to work together with human personnel to provide a better output. The demand for cobots is increasing in the warehouse robotics market due to the work safety offered to humans. Miniaturization of these machines along with providing increased flexibility results in the faster completion of complex operations, creating growth opportunities for the warehouse robotics market. The increased usage of these technologies in the e-commerce industry is an opportunity for the industry growth.
High consumer preferences for shopping online owing to the benefits such as high discounts, reliability, in-door delivery, and time-saving of consumers aid in the strong growth of the e-commerce industry. These factors increase the amount of warehouse inventory management and eventually expand the warehouse robotics market demand. Technological advancements have aided in the emergence of ‘smart’ technologies that have reduced the effort and time to update and scan stock inventory, pack parcels, and complete the other tasks. These features are fueling the demand for warehouse robotics in the e-commerce industry.