At 14.6% CAGR, Warehouse Automation Market is Projected to Reach USD 38.23 Bn by 2027, Says Brandessence Market Research

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PUNE, India, Oct. 6, 2021 /PRNewswire/ -- A New Era in Innovation: Warehouse automation market size is set to witness tremendous growth with a 14.6% CAGR during 2020-2027 periods, as per a new report by Brandessence Market Research. The market is set to grow from a valuation of USD 14.73 billion in 2020 to USD 38.23 billion in 2027.  The key drivers behind the major growth of the warehouse automation market size are growing efficacy of robotics, automation, and other supporting technology like inventory management systems. Furthermore, the warehouse automation trends have also led to strong cost-effective and productivity majors with technological advancements.

The warehouse automation market is a fragmented competitive landscape. The market remains open to entry of new players despite high initial investments. Growing interest in technologies like robotics, automation, and AI offer robust opportunities for cross-industry collaborations, and mergers. Some key players in the warehouse automation market are Lucus Robotics, Toyota Industries, KUKA AG, Geekplus, Omron Corporation, and ABB Ltd. 

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Impact of E-commerce on the Warehouse Automation Market

According to the United Nation Conference on Trade and Development, the total e-commerce sales reached USD25.6 trillion in 2018. This was a significant 8% rise from 2017. Furthermore, the UNCTAD also reported that B2B, and B2C sales in the same year amounted to 30% of the global GDP in the same year. This is a major boost for players in the warehouse automation market. E-commerce has necessitated speediest operations, and global delivery system. Such efficiency, and connectivity mandates the use of digitalization, automation, and a global connectivity. Furthermore, B2C commerce, a key driver of global e-commerce witnessed a further increase of 7.05 to rise to $404 billion by 2018. The growing demand for e-commerce, decreasing costs of cross-border shipments, and technological advancements in automation will drive robust growth for players in the warehouse automation market.

Key Trends in the Warehouse Automation Market 

According to a World Bank report, Food services displayed a 73% potential for automation in 2020, while manufacturing shows 59%, Agriculture 57%, Information technology 35%, and professional services show 34% potential. Most industries including food services, manufacturing are currently operating below par capacity in comparison to their potential. This is likely to change soon. World Bank report also highlighted the acceleration of automation due to the covid-19 pandemic. The pandemic accelerated the growth of the warehouse automation as norms like social distancing, infectious nature of the disease, and large risk of potential fatalities necessitated an instant change for companies. Furthermore, advanced robots today are capable of serving various business functions including packing, picking, transporting, inspection, sorting, and security. The increasing demand for automation and growing potential due to advancements in AI, and Robotics remain key drivers of acceleration in the warehouse automation market.

3D Printing to Open New Opportunities in the Warehouse Automation Market

3D printing is quickly becoming the new battlefield of innovation in key sectors like healthcare. The 3D printing technology promises to replace human organs with artificial ones for patient care, storage, and research. In the case of organs like kidneys, wait times can be as long as a year. Furthermore, despite the long wait times, these organs remain out of reach for most due to heavy costs associated. 3D printing can not only make the organ transfer a reality but also allow pharmacies, hospitals, research facilities and warehouses to store the organs safely. This transformation is already taking place in the case of caskets for fractures, dental models, tissues, surgical tools, and more. 3D printing will also increase in-house warehousing demand for many facilities. Furthermore, due to delicate and technical nature of its medical application, high-end automation, and storage will be essential component of 3D printing at most large healthcare facilities. Small hospitals or clinics will also require distribution services including automated warehouse to cut down times for medical products like caskets, dental modes, and surgical instruments.

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Warehouse automation statistics: An Overview

Annual shipments for robots, and automatic guided vehicles or AGVs are expected to reach 620,000 in 2021. This stood at a modest figure of 40,000 in 2016. The numbers of shipments will likely grow at robust speed, as 40% companies worldwide are expected to invest in shuttle systems in warehouse processes. The likes of Amazon have offered major incentives, and a live case study for millions of warehouse-reliant businesses to automate. Amazon, known for its large workforce, and terrific speeds of delivery has achieved tremendous success with warehousing in recent years. This has resulted in some unforeseen challenges like collision of robots with its workers in an unfortunate incident. However, the e-commerce giant has also opened self-checkout stores in major cities, with complete automation driving inventory refills, warehousing, payment systems, and other automated advancements.

On September 21st, 2021; Locus Robotics Acquired Fellow Warehouse Automation Company Waypoint Robotics

Key Developments in the Warehouse Automation Market

The warehouse automation companies continue to innovate to make supply chains, and logistics an integral instrument for global e-commerce. As the cost of transport continue to fall, the origin of manufacturing remains largely relevant for most products. Hence, we will witness continued focus on increasing transparency, automation in supply chains.

• OMRON Corporation, announced on August 5 the launch of a new PCB inspection system. The series named, 'VT-S10 series' delivers an imaging technology with AI to automate high-precision inspection process. This inspection is key for electronic substrates, eliminating the need for highly skilled inspectors. The system can be integrated with communication system like 5G, and be connected to Electric Vehicles, and can be ideal for electronic substrate identification among new AI EVs.
• Geek+, a leading player in the warehouse automation market has launched a new solution for smart mixed case palletizing. The new solution launched in 2021, promises to help warehouse operators systematically handle outbound orders in combination with autonomous mobile robots. The new process promises to streamline outbound deliveries with a higher efficiency, safety, and flexibility.
• Lucas Robotics announced in 2021 that the company raised another $150 million funding in series E, to take the valuation of the company near USD1 billion. Its new investors include Tiger Global Management, BOND, and its previous investors include Prologis Ventures, and Scale Venture Partners. 

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