Logistics Robots Market by Application and Geography - Forecast and Analysis 2020-2024
- Published: Apr 2020
- Pages: 120
- SKU: IRTNTR41088
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The logistics robots market size will grow by $6.42 billion during 2020-2024. The market’s growth momentum will accelerate during the forecast period because of the increase in year-over-year growth.
This report provides a detailed analysis of the market by application (indoor and outdoor logistics and factory logistics) and geography (North America, APAC, Europe, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including ABB Ltd., B2A Technology SAS, Clearpath Robotics Inc., Kawasaki Heavy Industries Ltd., KION GROUP AG, Midea Group Co. Ltd., OMRON Corp., Teradyne Inc., Toshiba Corp., and Toyota Industries Corp.
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Market Competitive Analysis
The market is fragmented. Growing industrial output, leading to capacity additions in process and discrete industries, will provide immense growth opportunities to market players. Midea Group Co. Ltd., OMRON Corp., Teradyne Inc., Toshiba Corp., and Toyota Industries Corp. are some of the major market participants. Although the good ROI offered by logistics robots will offer immense growth opportunities, the need for technical expertise will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this logistics robots market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this logistics robots market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- ABB Ltd.
- B2A Technology SAS
- Clearpath Robotics, Inc.
- Kawasaki Heavy Industries Ltd.
- KION GROUP AG
- Midea Group Co. Ltd.
- OMRON Corp.
- Teradyne Inc.
- Toshiba Corp.
- Toyota Industries Corp.
Logistics Robots Market: Segmentation by Region
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APAC was the largest logistics robots market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Increasing government initiatives to fund innovations in the robotics sector will significantly drive the logistics robots market growth in this region over the forecast period.
Over 46% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for logistics robots in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Logistics Robots Market: Segmentation by Application
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End-users such as warehouses, airports, harbors, logistics centers for parcel and mail orders, trans-shipment centers, and public buildings and increasingly seeking ways to improve operating efficiency, reliability, and speed. Therefore, they are increasingly adopting methods that can reduce congestion on the floor while improving the safety of human workers.
The logistics robots market share growth by the indoor and outdoor logistics segment will be faster than the growth of the market by the factory logistics segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the logistics robots market size.
Logistics Robots Market: Key Drivers and Trends
Logistics robots offer a high rate of ROI in comparison with systems such as forklifts used in manufacturing and non-manufacturing environments. The implementation of logistics robots reduces the cost of equipment and component and the time required for integration. Technavio’s market study identifies the high ROI offered by logistics robots to be one of the primary growth factors for the logistics robot market. Also, the implementation of logistics robots drives the adoption of technologies such as machine learning logic, human-machine collaboration, and environmental analysis technologies. The logistics robots market will register a CAGR of more than 31% by 2024.
The growing e-commerce sector is one of the key logistics robots market trends that will influence the growth of this market. Increasing Internet penetration and the growing preference for online shopping will support the e-commerce sector. E-commerce players focus on enhancing the quality of packaging and are concentrating on timely delivery to compete with brick and mortar retailers. Factors such as demand for flexibility, more stock-keeping units (SKUs), and swift returns processing, are driving the need for logistics automation in e-commerce. Major e-commerce players are benefiting from automation and robotization as it quickens the workflow while improving the customer experience.
Logistics Robots Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive logistics robots market growth during the next five years
- Precise estimation of the logistics robots market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the logistics robots industry across North America, APAC, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of logistics robots market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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- Good ROI offered by logistics robots
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