As per the International Federation of Robotics (IFR) report, the global sales of industrial robots increased by 16% to 294,312 units in the year 2016 as compared to 2015. Robots now cater to various end-user industries such as automobile, logistics and warehouse, e-commerce, pharmaceuticals, and electrical and electronics. Logistics and warehouse are one of the fastest growing industry and have widespread applications of robots in their respective sectors. According to the latest market intelligence report by BIS Research titled, ‘Global Logistics and Warehouse Robots Market- Analysis and Forecast (2017-2021)’, the market generated the revenue of $2.23 billion in the year 2016. The global market for logistics and warehouse robots is expected to register a CAGR of 45.2% during the forecast period. This significant market growth is majorly attributed to the growing e-commerce industry, which is majorly responsible for the growth of high productivity.
There has been a considerable decrease in the robot’s cost, which in turn, would enable the developed technology to cater to various other industries. In the last few years, the adoption of logistics and warehouse robots in the developing as well as in the developed countries has increased substantially. The rising venture capital investments, growing third-party logistics (3PL) market, and the introduction of industry 4.0 into logistics and warehouse are the factors, which would present a plethora of opportunities for the growth of logistics and warehouse robots. ABB Robotics, Fanuc Corporation, Kuka AG, Omron Adept Technologies, Amazon Robotics, Rethink Robotics, and IAM Robotics are some of the key players in the market for logistics and warehouse robots.
The logistics and warehouse robots are of six types, which include mobile robots, collaborative robots, articulated robots, SCARA robots, parallel robots, and cartesian robots. The year 2016 witnessed the dominance of mobile robots in the market owing to their mobility and flexibility. It is estimated that mobile robots will continue their dominance, until the year 2021. Moreover, the market for collaborative robots is anticipated to grow at the highest CAGR. The global market for logistics and warehouse market serve various industries such as automotive, e-commerce, pharmaceuticals, food & beverages, electrical and electronics, among others. The e-commerce industry accounted for the highest value share in the market for logistics and warehouse in the year 2016. Moreover, the automotive industry is expected to register the highest CAGR during the forecast period.
Geographically, North America is expected to grow at the highest CAGR from 2017-2021 with the U.S. having the highest demand for logistics and warehouse robots. Canada and Mexico are among the nations which are responsible for the growth of North America. Asia- Pacific (APAC) is expected to account for the highest market share on a global scale with China leading the region. China will account for the highest share in the APAC due to the development of e-commerce industry in the country. Japan and Korea are some of the other prominent nations to grow at the significant rate.
BIS Research has conducted extensive research on the global logistics and warehouse robot market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.