Globally, the market for logistics and warehouse robots is gaining traction owing to the growing e-commerce market, along with high-efficiency, low cost, and enhanced precision of robots. Over the past few years, logistics and warehouses robots have witnessed a high adoption rate in developing and developed nations. According to the latest market intelligence report by BIS Research titled, ‘Global Logistics and Warehouse Robot Market -Analysis and Forecast (2017-2021),’ the market is expected to register a CAGR of 45.2% during the forecast period. Logistics and warehouse are one of the fastest growing industries that have seen the impact of robots in various applications.
In May 2018, Soft Robotics Inc., which makes pliable grippers to pick up objects from pen to pizza dough received $20 million in funding to expand their business in logistics and e-commerce market. Soft Robotics’ technology combines automation and vision-guided software with a gripper made of a soft polymer that molds itself around an object like an octopus tentacle. The spongy fingers can pick up an item without determining its weight or center of gravity, and without damaging fragile objects.1
In April 2018, IAM Robotics, a leading innovator of autonomous fulfillment solution, developed a swift mobile robot, an e-commerce goods-to-person or goods-to-robot solution. The developed robot helps the logistic companies in increasing the capacity and maintaining the operational flexibility. Swift mobile robot’s articulated arm can help it store and retrieve bins from ground level or a certain height. IAM also offers a robot capable of picking things from existing shelves or containers.2
In March 2018, in a press release, robotics and supply chain automation company, Grey Orange, announced the launch of Artificial Intelligence (AI)-Powered Butler Pick Pal to revolutionize autonomous fulfillment in various logistics centers. The Butler Pick Pal is powered with AI and machine Vision to unlock the next level of efficiency in the order -picking progress. The system enables warehouses to manage the high-speed operations by automating order picking and fulfillment.
The global market for logistics and warehouse robots serve different end-user industries such as automotive, e-commerce, pharmaceuticals, food & beverages, electrical and electronics, among others. The e-commerce industry held the highest market share in the year 2016. The automotive industry is expected to register the highest CAGR from 2017-2021. ABB Robotics, Fanuc Corporation, Kuka AG, Omron Adept Technologies Inc., Rethink Robotics, and IAM Robotics are some of the prominent market players in the logistics and warehouse robot market.