The North America warehouse robotics market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the robotic systems are in high demand as a way to cut down on operating time and costs while also improving warehouse capacity.
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Warehouse robotics refers to the use of robotics in warehouses to execute tasks including packing, pick-place, packaging, and palletizing, transporting. Warehouse and robotics technology convergence has enhanced warehouse storage capacity and process performance while maintaining automation and accuracy. Warehouse robots are widely considered as the most successful approaches for reducing pressures associated with labor costs and accessibility, as well as improving operational competencies.
The robots lift big items and effectively perform activities such as placing, picking, packaging, transportation, and palletizing in the facility. A Warehouse Management System (WMS) is used by a variety of businesses as it can handle a variety of tasks, including managing inventory, labor management, and ERP connection. Mobile robots are an important part of the worldwide warehousing business since they are used to move small payloads about the facility, particularly in the retail and consumer electronics industries, and they offer greater flexibility than most standard automation systems.
Market Trends, Drivers, Restraints, and Opportunities
- Combination of the rising e-commerce and retail industries, as well as energy efficiency-driven technical advances in automation, is anticipated to propel the market growth during the forecast period.
- Internet of Things (IoT), machine learning, artificial intelligence (AI) and other similar technologies are becoming increasingly prevalent in the warehousing industry are expected to spur the market expansion in the coming years.
- Increasing labor expenses, a booming e-commerce business, and significant venture capital funding for robotics startups are estimated to fuel the market growth during the forecast period.
- Huge capital expenses due to training and deployment act as a key factor that can impede the market expansion in the coming years.
- Lack of understanding, the danger of job displacement is projected to restrict the market growth.
- Rising demand for automation and increased awareness of the importance of safety and high-quality production is projected to create lucrative opportunities for the market players.
Market Segment Insights
Automated storage and retrieval system (AS/RS) segment is projected to hold a key market share
Based on types, the North America warehouse robotics market is divided into sortation systems, industrial robots, conveyors, automated storage and retrieval system, palletizers, and mobile robots. The automated storage and retrieval system segment is expected to hold a key share of the market during the forecast period due to automatic storage and retrieval systems (AS/RS) are being adopted by many food supply companies.
Trans-shipments segment is expected to grow at a significant pace
On the basis of functions, the market is segmented into packaging, storage, trans-shipments, plastic bottles, and others. The trans-shipments segment is expected to constitute a key share of the market in the coming years owing to the shipment of items or containers to an interim destination and subsequently to some other location is known as transshipment or trans-shipment.
e-Commerce segment is anticipated to register at a substantial CAGR
In terms of end-users, the North America warehouse robotics market is segregated into automotive, food and beverage, electrical and electronics, retail, e-commerce, and others. The e-commerce segment is expected to represent a key share of the market during the forecast period due to cross-border payments that are more convenient transactions on e-commerce platforms have also increased as a result of techniques such as UniPay and PayPal.
United States is anticipated to dominate the market
On the basis of geography, the market is classified as Canada and United States. United States is anticipated to dominate the market at an impressive CAGR during the forecast period. The growth of the country’s market can be attributed to the developments in technology that have enabled robots faster and shorter, reduced costs, and a labor shortage in some regions, the rising usage of robots in distribution and warehouse centers in the United States is primarily due to growth in e-commerce.
Competitive Landscape
Key players competing in the North America warehouse robotics market include Fetch Robotics Inc.; Locus Robotics; InVia Robotics Inc.; Kiva Systems (Amazon Robotics LLC); Omron Adept Technologies; and Honeywell International Inc. Some of these players are adopting several market strategies including acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to increase their market shares.
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