Global Logistics Robot Market Poised for Remarkable Growth with E-commerce Revolution
According to a new report by Fairfield Market Research, the global logistics robot market is set to witness unprecedented growth, reaching a value of US$12,739.1 million by 2025. The market, valued at US$807.2 million in 2017, is projected to grow at a remarkable CAGR of 23.7% during the forecast period of 2021-2025. Logistics robots are playing a crucial role in automating the storage and movement of goods in warehouses and storage facilities. These robots offer operational efficiency by performing repeated actions over sustained periods, aiding workers in inventory picking, and significantly improving speed, control, accuracy, and productivity while adhering to safety standards. With the logistics industry facing a labor shortage, the logistics robot market provides a seamless solution, bridging the gap between labor availability and the soaring demands of the e-commerce sector.
𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭 𝐑𝐞𝐚𝐝: https://www.fairfieldmarketresearch.com/report/logistics-robot-market
The exponential growth of logistics and warehousing companies worldwide has fueled the demand for logistics robots, as businesses allocate more budget towards adopting advanced robotic systems to enhance supply chain and warehouse operations. Notably, major companies such as XPO Logistics and DHL International are investing heavily in technology innovation to optimize operational efficiency, with XPO Logistics alone spending over US$500 million annually on this endeavor.
The integration of technologies such as Artificial Intelligence (AI), computer vision, cloud computing, and machine learning is driving the development of logistics robots. AI, in particular, is expected to offer demand predictions, modify orders, and enhance product routing during transit, enabling companies to adjust their orders accordingly and ensure the timely delivery of in-demand goods. Computer vision technology enables the recognition and organization of items, thereby improving quality control and eliminating the need for human supervision. These advancements, coupled with the utilization of edge computing and AI for real-time mapping and navigation, are shaping the logistics robot market.
The COVID-19 pandemic has further accelerated the need for factory automation, compelling warehouse and distribution center operators to find solutions that reduce reliance on physical labor. Companies such as Locus Robotics, 6 River Systems, and Outrider have become integral providers of logistics robots, helping warehousing and logistics companies improve productivity. Despite the initial impact of the pandemic on the market, the urgent need for factory automation has contributed to the market's growth in the latter half of 2020.
The global logistics robot market is benefiting from significant government and venture capital funding, with governments in various countries investing heavily in robotics research and development. For instance, the U.S. government has invested over US$96 million through university grants, while China has announced plans to develop a $200 million robotics research center in collaboration with Russia. Start-up companies in the logistics robot space have also attracted substantial venture capital investments, contributing to developing next-generation robots.
Automated Guided Vehicles (AGV) dominate the global logistics robot market, accounting for 42.6% of the market share in 2020. AGVs are fully autonomous robots that facilitate the movement and transportation of items in production, warehouse, and distribution centers, eliminating the need for manual intervention and permanent conveying systems. AGVs enable just-in-time delivery, electronic control of assembled parts, and tracking of shipped goods while reducing labor costs and improving overall warehouse efficiency.
The e-commerce sector holds the highest share in the logistics robot market, as retail companies increasingly deploy logistics robots to enhance packaging, storage, distribution, and timely deliveries. With the rise in internet penetration and changing consumer shopping habits, the e-commerce sector is expected to create significant opportunities for logistics robot adoption. By deploying logistics, companies such as Liberty Hardware have witnessed substantial improvements in order pick rates, training speed, and employee turnover rates.
Read More: https://www.fairfieldmarketresearch.com/