Mounting Logistics Industry and Automation adoption rate will guide revenue generation for logistics robots, states Fact.MR
Published on : Wednesday 22-02-2023
The surge in the use of logistics robots occurs as a reaction to the need to lower costs and streamline procedures to increase competitiveness.
February 2023 – The global logistics robot market is estimated to exceed US$ 7,115.6 Million by the end of 2023, by growing at an impressive CAGR of 12.3% over the assessment period of 2023-2033.
Robotic logistics is a developing idea that has become very popular in recent years. Many companies have invested in retrieval systems and automated storage (RS/AS) to automate movements and processes in the facility due to the growing complexity of the warehouse industry and the necessity for agile and efficient operations.
The surge in the use of logistics robots occurs as a reaction to the need to lower costs and streamline procedures to increase competitiveness. Logistics robots, as supposed to be conventional equipment, guarantee maximum throughput, work 24/7 if it is necessary, as well as ensure the security of the products, all other components, and workers in the warehouse.
The industry is changing as a result of new technologies, and new technologies are being inspired by how the last mile delivery is changing, venture capital investments in supply chain management and logistics start-ups have significantly increased.
Key takeaways from study
· Global logistics robots market is poised to expand and reach the valuation of US$ 22,699.1 Million by the end of 2033.
· The global logistics robots market witnessed a healthy CAGR of 8.9% during 2018 to 2022.
· By end use industry segment, Retail & E-commerce is likely to account for 22.5% of revenue share by obtaining a valuation of US$ 1,601.0 Million in 2023.
· South Asia & Oceania region is expected to register a CAGR of 14.5% over the forecast period, as it will be valued at US$ 1,010.4 Million by 2023 end.
· Under the payload segment, logistics robots having 200 - 500 kg payload are estimated to account for approximately a 28.4% share of the aftermarket sub-segment in 2023.
· China in the East Asia region provides more revenue generation opportunities and is expected to capture a market share of 68.3% in 2023.
Deployment of logistics robots in the retail and e-commerce industry will double over the forecast period, says a Fact.MR analyst
Various researches are now being conducted on the modification of logistics robots for its utilization in space. Such R&D investments and progressions in logistics robots will take the market to new heights.
Due to the constant movement of people and objects, AMRs can avoid obstacles and even work with people, unlike the traditional AGV. This is important to allow manufacturers to adapt to changing conditions as the AMR can adapt to new layouts and patterns.
The implementation of artificial intelligence and automation, and others are some of the technologies being investigated in order to improve and upgrade logistics robots. In order to improve the delivery process, a lot of money is also spent on route optimization software and other affordable alternatives.
Get to know more: https://www.factmr.com/report/logistics-robot-market
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