The warehouse robotics market is expected to grow from $4.7 billion in 2021 to $ 9.1 billion by 2026, according to a new report issued by [CQ] MarketsandMarkets, a consulting firm that performs private B2B research.
The company said a few of the drivers of warehouse robotics market include: the expansion of the ecommerce industry, increasing funding from venture capitalists, rising need for enhancing the quality and reliability of warehouse operations, and the growing adoption of warehouse robotics by small and medium enterprises.
However, factors such as high installation cost and lack of a skilled workforce are expected to restrain the market growth, the company holds. “The integration of Industry 4.0 with warehouse robots and technological advancements in autonomous mobile robots (AMR) are expected to create high growth opportunities in the warehouse robotics market,” MarketsandMarkets observes.
It expects the AMR segment to witness the fastest CAGR during the forecasted period. The increasing preference for ecommerce shopping platforms and the growing need for enhancing the efficiency of warehouses have led companies to focus on the automation of operations. Increasing affordability and ROI also are expected to drive this growth
The picking and packaging segment is estimated to hold the second-largest market share in 2021. “With the growing popularity of online shopping, many ecommerce companies are implementing picking and packaging robots to streamline their operations and improve efficiency,” MarketsandMarkets says.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges and opportunities influencing the growth of the warehouse robotics market. It also includes a detailed analysis of the key industry players, both manufacturers and customers.