FMI Forecasts Warehouse Robotics Market to Surpass USD 5,609.75 Million by 2034, Propelled by a Remarkable 13.8% CAGR Growth

Warehouse Robotics Market

The warehouse robotics market is poised for significant expansion, projected to surge from USD 1,540.57 million in 2024 to a milestone of USD 5,609.75 million by 2034. Over the decade from 2024 to 2034, this sector is expected to experience a notable Compound Annual Growth Rate (CAGR) of 13.8%.

The driving force behind this growth is the escalating demand for consumables and perishable goods, particularly evident in sectors like electronics, automotive, and e-commerce. These industries have witnessed remarkable expansion, leading to an amplified requirement for efficient and timely warehousing solutions. In this evolving landscape, the warehouse robotics market emerges as a pivotal player, enabling advanced goods storage, handling, and delivery processes.

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Shifting demographics and widespread internet accessibility have led to an increased demand for goods through online sales channels. This surge in demand has fueled the construction of new e-commerce warehouses on a global scale, presenting numerous opportunities for automation solutions. The industrial robotics sector accounted for approximately 3% to 5% of the global market in 2022.

The industrial robotics market witnessed significant growth in 2021, and this upward trend is expected to persist throughout the projected period. According to the International Federation of Robotics, the annual installation of industrial robots surged from 394,000 units in 2020 to 517,000 units in 2021, indicating a remarkable growth of around 30%.

Within the Asia Pacific region, China, Japan, South Korea, and the Association of Southeast Asian States remain the leading markets for industrial robot sales. With the increasing adoption of robots across various industries, there is a promising potential for robots to play a profitable role in warehouse tasks.

Competitive Landscape: Warehouse Robotics Market

To enhance efficiency, numerous established companies and emerging robot startups are focusing on innovative and cutting-edge warehouse solutions. Well-established players are pursuing strategies involving acquisitions.

These companies are also working on developing new and integrated robotic solutions to meet the evolving needs of end-users. Launching new warehouse projects, especially in developing nations, is a priority for many businesses, driven by the rising demand for third-party logistics.

For example,

In February 2022, Hai Robotics announced its collaboration with the world’s largest sportswear company, Anta, for a new autonomous warehouse project. Hai Robotics, with its involvement in projects like the Anta collaboration, is gaining recognition as a leading supplier in the industry, particularly in the apparel and footwear market. This success is attributed to its active participation in multiple projects.

Key Players in the industry:

  • ABB Ltd.
  • Addverb Technologies
  • Daifuku
  • FANUC Corporation
  • Geekplus Technology
  • Hikrobot
  • IAM Robotics
  • InVia Robotics Inc.
  • JBT
  • KION Group AG, among others

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Warehouse Robotics Market Outlook by Category:

By Product Type:

  • Autonomous Mobile Robots
  • Automated Guided Vehicle
  • Articulated Robots
  • Cylindrical and SCARA Robots
  • Collaborative Robots
  • Others

By Function:

  • Picking & Placing
  • Palletizing & De-Palletizing
  • Transportation
  • Packing

By Payload Capacity:

  • Below 100 Kg
  • 100 to 200 Kg
  • 200 to 300 Kg
  • 300 to 400 Kg
  • 400 to 600 Kg
  • 600 to 900 Kg
  • 900 to 1200 Kg
  • Above 1200 Kg

By End-use Industry:

  • Food & Beverage
  • Electronics & Electrical
  • Metal & Machinery
  • Automotive
  • Pharmaceuticals
  • Independent Warehouse
    • Cold Storage
    • Dry Storage
  • E-commerce
  • Chemical, Rubber and Plastics
  • Others

By Region:

  • North America
  • Latin America
  • East Asia
  • South Asia Pacific
  • Western Europe
  • Eastern Europe
  • Central Asia
  • Russia & Belarus
  • Balkan & Baltic Countries
  • Middle East & Africa

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Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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