The warehouse automation market is expected to touch the $41 billion mark by 2027, at a CAGR of almost 15% between 2022-2027, according to LogisticsIQ research.
Growth can be attributed to the e-commerce boom, multichannel distribution channels, e-grocery penetration with dark stores and ultra-fast delivery services, globalization of supply chain networks, emergence of autonomous mobile robots and the rising need for same-day/same-hour delivery.
From PR Newswire:
- The e-commerce boom is compounding the major labor challenges faced by the $5 trillion global logistics industry. Not only are shipment volumes growing rapidly, but also online retail typically requires more logistical work per item than brick-and-mortar retail. Therefore, online purchases require individual picking, packing and shipping as opposed to the bulk transportation models of traditional brick-and-mortar retail.
- Mega-trends like aging population, globalization, health and safety, mobility, green logistics, autonomous world, urbanization, individualization and digitization need to be given more consideration and weight than in the past.
- United States, China and Germany are the largest markets with more than 50% share for warehouse automation.