Logistics Robot Market Overview:
Logistics robot is defined as a robot that automates the process of storing and moving goods as they make their way through the supply chain. They’re often used in warehouses and storage facilities to organize and transport products, a process referred to as intra logistics, but they can be used in other settings too. The primary application of logistics robots is the use of mobile automated guided vehicles in warehouses and storage facilities to transport goods. Some of the examples of logistics robots include robotic arms that sort items from bins or from assembly lines such as AGVs for transporting goods outdoors such as in agriculture. Few of these robots are also used for delivery of medicine and lab specimens in the hospitals and laboratories. They also simplify operations in vast accommodations, such as airports and automotive work-floors etc.
Logistics Robot Market Size:
Logistics Robot Market was valued at USD 1420 million in 2016 and estimated to generate revenue of USD 4360 million by 2021 growing at a CAGR of 27.82% during the forecast period 2016 to 2021.
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Logistics Robot Market Drivers and Restraints:
The global logistic market growth increases with the rise in automotive transportation of goods. Logistic robots are employed in nearly every industry like pulp, paper, metals and general manufacturing that leads to the major market growth in the forecast period. The market boosts its growth by rising requirement for workplace safety standards, and growing productivity due to improved supply chain processes, among others. Vision guidance navigation technology is expected to grow at the highest rate during the forecast period due to their capability to reduce downtime and minimize infrastructure costs. However, high R&D investment and initial acquisition cost are anticipated to restrain the market’s growth in the forecast period.
Geographical Segmentation of Logistics Robot Market:
Asia Pacific is the dominant and fast-growing market for the logistics robot market due to the rapid growth in industrialization and urbanization, and expected to continue the same in the forecast period. North America witnesses a major growth due to the tremendous technological development in the industrial sector. Europe is anticipated to be the largest market with major growth rate due to the rise in high labor cost in the region.
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Key Players of Logistics Robot Market:
Some of the key players in the logistics robots market include ABB Robotics, Fanuc India Private Limited, Kawasaki Heavy Industries, Ltd., Kuka AG, Yaskawa America, Inc., Krones AG, I.M.A. Industria Macchine Automatiche S.p.A., Gebo Cermex, Toshiba Corporation, Asic Robotics AG, and Columbia Okura LLC.
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