Logistics Picking Robots Market REPORT OVERVIEW
-
Request a Free Sample to learn more about this report
The global logistics picking robots market size was USD 5424.95 million in 2021. As per our research, the market is expected to reach USD 15067.48 million by 2027, exhibiting a CAGR of 18.56% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with logistics picking robots experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Logistics picking robots are autonomous or semi-autonomous robotic systems designed to streamline the process of picking and packing items in logistics and warehousing operations. These robots are a crucial part of the supply chain automation ecosystem, helping businesses improve efficiency, accuracy, and speed in their order fulfillment processes. Logistics picking robots are primarily used for picking items from shelves, bins, or pallets and then packing them into containers or boxes. This process is essential for preparing orders for shipment in e-commerce, retail, and distribution center settings.
Picking robots often rely on computer vision systems to identify and locate items on shelves or in bins. Sensors such as LIDAR, cameras, and depth sensors help the robot navigate its environment and avoid collisions. Logistics picking robots can work 24/7 without breaks, leading to faster order fulfillment and reduced labor costs. They can minimize picking errors and ensure that the right items are packed in each order. In some cases, robots work alongside human workers, making the picking process more efficient and less physically demanding.
COVID-19 IMPACT: Increased Demand for Automation to Boost Demand Significantly
COVID-19 had a life changing impact globally. The logistics picking robots market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for logistics picking robots experienced an increased demand.
The pandemic exposed vulnerabilities in global supply chains. Companies looked to automation to mitigate disruptions, reduce lead times, and create more flexible and adaptable supply chain networks. Picking robots were reconfigured or adapted to meet the demands of new safety protocols and social distancing measures. This included changes in robot deployment, scheduling, and interaction with human workers.
The pandemic underscored the importance of supply chain resilience and the need to reduce reliance on human labor, especially in situations where social distancing and safety measures were required. As a result, there was a heightened interest in automation, including logistics picking robots, to maintain business continuity. There were labor shortages in various industries, including logistics and warehousing. This made it challenging for companies to find and retain human workers for tasks that could be automated, further driving the adoption of picking robots. The market is anticipated to boost the market following the pandemic.
LATEST TRENDS
"Integration of New Technologies to Broaden Market Growth"
Integration with WMS and other warehouse software solutions was becoming increasingly important. Seamless connectivity between logistics picking robots and WMS allowed for real-time data exchange, enhancing overall warehouse efficiency and order accuracy. Continued advancements in artificial intelligence and machine learning were enhancing the capabilities of logistics picking robots. These technologies enabled robots to adapt to changing environments, optimize pick routes, and improve item recognition, making them more versatile and efficient.
Companies were seeking robotics solutions that could be tailored to their specific needs. Manufacturers were offering more customizable and scalable options to meet the diverse requirements of different industries and warehouse configurations. The use of multiple robots working together in a coordinated manner was becoming more common. This approach helped distribute the workload and improve overall picking efficiency. These latest developments are anticipated to boost the logistics picking robots market share.
Logistics Picking Robots Market SEGMENTATION
-
Request a Free Sample to learn more about this report
- By Type
Based on type, the market is divided into full-automatic and semi-automatic.
- By Application
Based on application, the market is bifurcated into logistic picking, logistic handling and others.
DRIVING FACTORS
"E-commerce Growth to Boost Market Share"
The rapid expansion of e-commerce and online shopping has been a primary driver of the market. As more consumers turn to online retail, businesses have had to automate their order fulfillment processes to keep up with the high demand for fast and accurate deliveries. Logistics picking robots can significantly improve the efficiency and productivity of warehouse and distribution center operations. They can work around the clock, maintain a high level of accuracy, and optimize picking routes, leading to faster order fulfillment and cost savings.
"Labor Shortages to Fuel Market Share"
Labor shortages in the logistics and warehousing sectors, exacerbated by factors such as the COVID-19 pandemic and demographic shifts, have created a pressing need for automation solutions like logistics picking robots. These robots can perform repetitive and physically demanding tasks, reducing reliance on human labor. While there is an initial investment in acquiring and implementing logistics picking robots, many businesses view them as a cost-effective solution in the long run. Robots can reduce labor costs, lower error rates, and lead to better inventory management. These factors are anticipated to drive the market.
RESTRAINING FACTORS
"Complexity of Mixed Environments to Hamper Market Share"
In warehouses with a mix of automated and manual processes, coordinating the activities of robots and human workers can be complex. Ensuring safety and efficiency in such mixed environments can pose challenges. Resistance to automation and fear of job displacement among the existing workforce can be barriers to the adoption of logistics picking robots. Companies need to address these concerns through proper change management and workforce training. The factors are anticipated to hinder the logistics picking robots market growth.
Logistics Picking Robots Market REGIONAL INSIGHTS
-
Request a Free Sample to learn more about this report
"North America to Dominate the Market owing to Automation in Logistics"
North America, particularly the United States, has been a major shareholder in the market. Several factors contribute to its dominance. The United States has one of the largest and most mature e-commerce markets globally, driving the demand for automation in logistics and warehousing. North America is home to many leading robotics and automation companies, fostering innovation in the logistics robotics sector. Access to venture capital and investment funding has supported the development and adoption of logistics picking robots. High labor costs in North America have encouraged businesses to invest in automation solutions, including picking robots, to reduce operational expenses.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- CIM Corp [Finland]
- GreyOrange [Singapore]
- Amazon Robotics [U.S.]
- Wuxi A-carrier [China]
- Vanderlande [Netherlands]
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 5424.95 Million in 2021 |
Market Size Value By |
US$ 15067.48 Million by 2027 |
Growth Rate |
CAGR of 18.56% from 2021 to 2027 |
Forecast Period |
2021-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the logistics picking robots market expected to touch by 2027?
The global logistics picking robots market is expected to reach USD 15.06 billion by 2027.
-
What CAGR is the logistics picking robots market expected to exhibit by 2027?
The logistics picking robots market is expected to exhibit a CAGR of 18.56% by 2027.
-
Which are the driving factors of the Logistics Picking Robots market?
E-commerce Growth and Labor Shortages are drivers of this market.
-
Which are the top companies operating in the Logistics Picking Robots market?
CIM Corp, GreyOrange, Amazon Robotics, Wuxi A-carrier and Vanderlande are key companies operating in the Logistics Picking Robots market.