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Logistics Robotics Market to Garner $27.8 Billion, Globally, By 2031 at 16.2% CAGR: Allied Market ResearchRise in need for safety among workers in workplace and surge in demand from online retailers have boosted the growth of the global logistics robotics market. PORTLAND, Ore., Oct. 28, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Logistics Robotics Market By Type (Automated Guided Vehicles, Autonomous Mobile Robots, Robot Arms, and Others), Function (Pick and Place, Palletizing and Depalletizing, Transportation, and Packaging), End User (Healthcare, Warehouse, Hospitality, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global logistics robotics industry accounted for $6.3 billion in 2021, and is expected to reach $27.8 billion by 2031, growing at a CAGR of 16.2% from 2022 to 2031. The report provides an in-depth analysis of changing market trends, key investment pockets, top segments, regional landscape, value chain, and competitive scenario.  Download Sample Report (Get Full Insights in PDF - 294 Pages) @ https://www.alliedmarketresearch.com/request-sample/31777 Major determinants of the market growth Rise in need for safety among workers in workplace and surge in demand from online retailers have boosted the growth of the global logistics robotics market. However, high initial acquisition cost and challenges while working in untested environments hinder the market growth. On the contrary, advent of industry 4.0 into logistics and warehousing and growth of logistics robots in developing economies would open new opportunities in the future. Report Coverage and Details:
COVID-19 Scenario:
The automated guided vehicles segment dominated the market growth By type, the automated guided vehicles segment held the largest share in 2021, accounting for more than two-fifths of the global logistics robotics market, and is estimated to dominate the market throughout the forecast period. In addition, the segment is expected to register the highest CAGR of 17.1% during the forecast period. Industries are focusing on improving workplace safety to eliminate accidents, reduce downtime, and increase productivity. There is growing awareness about AGVs, and an increasingly large number of companies are implementing AGVs in their warehouses. The pick and place segment to manifest the highest CAGR through 2031 By function, the packaging segment is expected to register the highest CAGR of 17.53% during the forecast period. Packaging has been an integral part of the supply chain, which is why it is integrated with warehousing. Swiftness, quality, cost-efficiency in packaging, complexity, and innovation in packaging, especially in pharmaceutical and food & beverage by robot fuels the growth of robotics in warehouses. However, the pick and place segment held the largest share in 2021, contributing to nearly one-third of the global logistics robotics market. The warehouse segment held the lion's share By end user, the warehouse segment dominated the market in 2021, accounting for more than half of the global logistics robotics market, and is expected to continue its dominance from 2022 to 2031. Factory or warehouse robot can plan their own path, move quickly, and offer greater flexibility and potential than traditional transportation methods. This provides lucrative opportunities for logistics robotics in factory/warehouses as it reduces warehouses management cost, provides goods picking precision among others. However, the hospitality segment is estimated to showcase the highest CAGR of 18.33% during the forecast period. Delivery robot are an emerging technology that assists hotels drive revenue while improving facilities among their competitors, guest's appearances, and staff productivity. Asia-Pacific held the largest share By region, the market across Asia-Pacific dominated the market in 2021, holding around half of the global logistics robotics market, and is expected to dominate in terms of revenue during the forecast period. Asia-Pacific is the largest manufacturer of electronic & electrical goods and metal & machinery goods. Japan and China lead the industrial automation market. Warehouse robotics can help companies reduce overhead costs and increase productivity with consistency and accuracy. All these factors create lucrative opportunities for Asia-Pacific in logistics robotics market. However, the market across North America is expected to register the highest CAGR of 17.93% during the forecast period. This is due to increase in competitiveness among the players in these industry verticals and high cost of labor in North America. In addition, the e-commerce, automotive, pharmaceutical, and food & beverage industries drive the market growth. The report includes analysis of the market across Europe, Asia-Pacific, and LAMEA. Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/31777 Major Market Players
The report analyzes these key players of the global logistics robotics market. These companies have adopted several strategies such as expansion, partnerships, new product launches, collaborations, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player. Key Benefits For Stakeholders:
Logistics Robotics Market Key Segments: By Type:
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