The Warehouse Automation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Warehouse Automation Global Market Report 2024, The warehouse automation market size has grown rapidly in recent years. It will grow from $19.27 billion in 2023 to $21.9 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to e-commerce growth, labor shortages and costs, global supply chain complexity, consumer expectations for faster delivery, inventory management efficiency.
The warehouse automation market size is expected to see rapid growth in the next few years. It will grow to $36.48 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to rise in same-day and on-demand delivery, sustainability and green warehousing, micro fulfillment centers. Major trends in the forecast period include warehouse execution systems (WES), voice-activated and wearable technologies, automated palletizing and depalletizing systems, real-time monitoring and analytics, sustainable and green warehouse solutions.
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. For instance, according to the Robotic Business Review, e-commerce will grow and is expected to reach 22% of all retail sales worldwide in 2023, as compared to 14.1% in 2019. According to a study published by Prologis, a US-based real estate investment trust, in 2021, the use of automation in warehousing is expected to increase revenue per square foot from 10% to 20% in the e-commerce real estate sector in the next three years. Therefore, the rise in the e-commerce sector is expected to boost the warehouse automation market during the forecast period.
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The warehouse automation market covered in this report is segmented –
1) By Type: Conveyor/Sortation Systems, Automated Storage and Retrieval Systems (AS/RS), Mobile Robots, Warehouse Automations (WMS), Automatic Identification and Data Capture (AIDC)
2) By Component: Hardware, Software
3) By Function: Inbound, Picking, Outbound
4) By End User: General Merchandise, Healthcare, FMCG/Non-durable Goods, Other End Users
Major companies operating in the warehouse automation market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in February 2021, Shadowfax Technologies Ltd., an India-based on-demand logistics services provider, partnered with Vinculum Solutions, an India-based software company, to develop Warehouse Automation. Combining Shadowfax's established 3PL services with Vinculum's advanced WMS created a unique and competitive offering.
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. Global Warehouse Automation Market Size and Growth
.....
32. Global Warehouse Automation Market Competitive Benchmarking
33. Global Warehouse Automation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Warehouse Automation Market
35. Warehouse Automation Market Future Outlook and Potential Analysis
36. Appendix
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