The Warehouse Automation Global Market Report 2023 by The Business Research Company, provides warehouse automation market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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In accordance with The Business Research Company’s insightful analysis presented in the Warehouse Automation Global Market Report for 2023, a notable trajectory is anticipated in the global warehouse automation sector. The market, with a current valuation of $17.32 billion in 2022, is poised to ascend to $19.78 billion by 2023, demonstrating a commendable compound annual growth rate (CAGR) of 14.2%. However, the unforeseen disruptions resulting from the Russia-Ukraine conflict have cast a shadow on the global economic recovery post-COVID-19, engendering short-term challenges. The geopolitical tensions have triggered economic sanctions, heightened commodity prices, and instigated supply chain upheavals, thereby instigating inflationary pressures across diverse sectors worldwide. Despite these challenges, the warehouse automation market is anticipated to burgeon further, reaching a projected valuation of $33.59 billion by 2027, maintaining a steadfast CAGR of 14.2%. This underscores the resilience and adaptability of the warehouse automation sector amidst complex geopolitical and economic landscapes.
The rise in e-commerce sales will drive the growth of the warehouse automation market. As retailers struggle to keep up with the increasing volume of orders and their last-mile delivery needs, warehouse automation is briskly turning into the trump card for those who are looking for a leg up on the competition, especially in the competitive e-grocery market.
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The warehouse automation market is segmented:
1) Warehouse Automation Market By Type: Conveyor/Sortation Systems, Automated Storage and Retrieval Systems (AS/RS), Mobile Robots, Warehouse Management Systems (WMS), Automatic Identification and Data Capture (AIDC)
2) Warehouse Automation Market By Component: Hardware, Software
3) Warehouse Automation Market By Function: Inbound, Picking, Outbound
4) Warehouse Automation Market By End User: General Merchandise, Healthcare, FMCG/Non-durable Goods, Other End Users
Investments in research and development (R&D) activities stand out as a pivotal trend, gaining substantial traction within the burgeoning warehouse automation market. Companies entrenched in the warehouse automation sector are progressively channeling resources into cutting-edge R&D facilities. This strategic move aims to catalyze their new product development endeavors, positioning them ahead of industry counterparts by unveiling technologically superior products endowed with heightened operational capabilities and performance metrics.
A notable exemplar of this trend manifested in November 2021 when Honeywell International Inc., a distinguished US-based conglomerate specializing in building technologies, safety & productivity solutions, and performance materials & technologies, unveiled plans for an advanced R&D testing facility in the Czech Republic. This facility, earmarked for Honeywell Intelligrated, its warehouse automation business, seeks to address the escalating demand for technologies fostering secure and meticulously accurate supply chains.
This visionary facility serves as a crucible for Honeywell's software and hardware engineers, empowering them to conceive, prototype, and rigorously test innovative warehouse automation systems. These systems, integral to the logistics landscape, enhance the efficiency, precision, and throughput of packages circulating within warehouses and distribution centers. This strategic investment underscores a commitment to technological evolution, ensuring that Honeywell remains at the forefront of pioneering solutions driving efficiency in the dynamic realm of warehouse automation.
The warehouse automation market report table of contents includes:
1. Executive Summary
2. Warehouse Automation Market Characteristics
3. Warehouse Automation Market Trends And Strategies
4. Warehouse Automation Market – Macro Economic Scenario
5. Warehouse Automation Market Size And Growth
........
26. Africa Warehouse Automation Market
27. Warehouse Automation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Warehouse Automation Market
29. Warehouse Automation Market Future Outlook and Potential Analysis
30. Appendix
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