Automation with AGV and robotic arm in modern distribution warehouse.
The Warehouse Automation Global Market Report 2023, provides comprehensive information on the warehouse automation market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/warehouse-automation-global-market-report
According to The Business Research Company’s Warehouse Automation Global Market Report for 2023, there is a notable trajectory in market expansion. From its $17.32 billion valuation in 2022, it is projected to burgeon to an impressive $19.78 billion in 2023, boasting a robust compound annual growth rate (CAGR) of 14.2%. However, a significant factor disrupting global economic recovery in the short term is the ongoing Russia-Ukraine conflict. This geopolitical turmoil has instigated far-reaching ramifications, including economic sanctions imposed on multiple nations, a noteworthy upswing in commodity prices, and disruptions within global supply chains.
These repercussions have precipitated inflationary pressures across a broad spectrum of goods and services, thereby influencing various markets worldwide. Nevertheless, despite these geopolitical challenges, the warehouse automation market remains resilient and is anticipated to continue its growth trajectory. By 2027, it is forecasted to reach a remarkable market size of $33.59 billion, maintaining the same robust CAGR of 14.2%, reflecting the unwavering potential and demand in this dynamic industry.
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A prominent trend within the warehouse automation sector is the increased focus on research and development (R&D) investments. Companies operating in this domain are channeling resources into R&D facilities to enhance their new product development initiatives, thus securing a competitive advantage by introducing technologically advanced products with enhanced operational capabilities and performance. A notable example of this commitment is evident in Honeywell International Inc.’s November 2021 announcement. This US-based conglomerate, specializing in building technologies, safety & productivity solutions, and performance materials & technologies, unveiled plans for a state-of-the-art advanced R&D testing facility in the Czech Republic, dedicated to its Honeywell Intelligrated warehouse automation division. This strategic move is in response to the burgeoning demand for technologies that ensure secure and highly accurate supply chains.
The facility serves as a creative hub for Honeywell’s software and hardware engineers, facilitating the design, prototyping, and testing of cutting-edge warehouse automation systems. These innovations are intended for deployment by logistics companies, ultimately bolstering the efficiency, precision, and throughput of operations within warehouses and distribution centers. This proactive approach underscores the significance of R&D investments in driving the evolution of the warehouse automation landscape.
The warehouse automation market 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
North America was the largest region in the warehouse automation market in 2022.
The table of contents in TBRC’s warehouse automation market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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