Warehouse Automation Market Size Is Projected to Reach $30.69 Billion By 2028 | CAGR: 14.2% : PMR
NEW YORK, Nov. 24, 2021 /PRNewswire/ -- The global warehouse automation market size is expected to reach USD 30.69 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 14.2% from 2021 – 2028. The growth of the global market is primarily driven by the increasing adoption of automation and robotics in different end-user industries with the support of continuous development in the field of technology. Additionally, increasing incidences of accidents in industrial workplaces are among the major factor that drives significant growth for the market. Moreover, rising government programs focused on industrial automation technology and increasing R&D investments further complement the market growth.
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Key Highlights of Warehouse Automation Market
The Asia Pacific region's market is expected to grow significantly throughout the forecast period, owing to rapid industrial development, a developing automotive industry, and a demand for improved material handling solutions in the region. Furthermore, the rising consumer products manufacturing industry in countries such as India, Japan, Korea, and China is expected to drive warehouse automation market expansion. The market in North America is expected to obtain the highest market share over the projection period, owing to the increased adoption of robots and automation technologies, as well as higher labor costs in the region.
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Warehouse automation businesses are constantly innovating to make supply chains and logistics a vital part of global e-commerce. As transportation costs continue to reduce, the origin of manufacturing remains important for the majority of products. As a result, we will see a continuous emphasis on increasing openness and automation in supply chains. The pandemic's influence on the warehouse business will have long-term consequences for the industrial sector. Concerns about worker safety, as well as the need to keep up with the boom in e-commerce orders, highlighted the need for increasing warehouse automation. Schaefer Systems International Pvt Ltd, Armstrong Ltd., Daifuku India Private Limited, GreyOrange, Falcon Autotech Private Limited, KNAPP Group, Addverb Technologies Private Limited, Hinditron Group, Bastian Solution Private Limited, Honeywell International, The Hi-Tech Robotic Systemz Limited, Kardex India Storage Solutions Private Limited, Kion Group, KUKA Group, Muratec, Richfield Automation Ltd, Space Magnum Equipment, and Godrej Consoveyo Logistics Automation Ltd. are some of the key players operating in the global industry.
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Polaris Market Research has segmented the warehouse automation market report on the basis of type, technology, application, and region:
Warehouse Automation, Type Outlook (Revenue, USD Billion, 2016 – 2028)
Warehouse Automation, Technology Outlook (Revenue, USD Billion, 2016 – 2028)
Warehouse Automation, Application Outlook (Revenue, USD Billion, 2016 – 2028)
Warehouse Automation, Regional Outlook (Revenue, USD Billion, 2016 – 2028)
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