Industrial Robots Market to Reach $13.13B by 2028, Fueled by E-Commerce Growth and Automation

The industrial robots(warehousing and storage robots) market size has grown rapidly in recent years. It will grow from $6.48 billion in 2023 to $7.5 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to e-commerce growth, labor shortages, automation and productivity, supply chain optimization, rising costs of labor, government support for automation and robotics.

The industrial robots(warehousing and storage robots) market size is expected to see rapid growth in the next few years. It will grow to $13.13 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to customization and scalability, environmental and sustainability goals, need to improve operational efficiency, need to meet the demands of modern supply chain dynamics. Major trends in the forecast period include advanced technology integration, robotic picking and packing, autonomous mobile robots, real-time data and analytics, ai-driven decision making, collaborative robots, advancements in robotic technology.

Market Overview -
Industrial robots in warehousing and storage refer to automated robots, systems that are used in warehouses, and related services. Warehouse and storage robots perform various tasks and automate the warehouse process. Industrial robots in warehousing and storage are used to do tasks such as lifting and arranging heavy products that are to be stored in racks or given spaces.

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Accelerated Warehouse Operations Propel Growth In Industrial Robots Market
The accelerated movement of goods inside the warehouse drove the industrial robots in the warehouse and storage market. The increase in the movement of goods is due to the boom in the e-commerce industry and their commitment to shortest-time delivery. Industrial robots are used to speed up the process in the warehouse and storage industry. For instance, in 2022, Geodis signed an expanded agreement with Locus Robotics, an autonomous mobile robots (AMRs) supplier, to deploy 1,000 AMR robots at warehouses globally. The accelerated movement of goods inside the warehouse drove the industrial robots in the warehouse and storage market.

Competitive Landscape -
Major companies operating in the industrial robots(warehousing and storage robots) market include ABB Ltd., Yaskawa Electric Corp, KUKA AG (Keller und Knappich Augsburg), Fanuc Corp., Mitsubishi Electric Corporation, Amazon, Honeywell Intelligrated, Omron Corporation, Fetch Robotics Inc., Fanuc Corp, Bastian Solutions, Yamaha Robotics, Siemens AG., Locus Robotics, Daifuku Co. Ltd., Dematic, KNAPP AG, AGVE Group, BlueBotics SA, Clearpath Robotics, GreyOrange, IAM Robotics, inVia Robotics, Kardex Group, KION Group AG, Kiva Systems, Kollmorgen, Magazino GmbH, MiR (Mobile Industrial Robots), RightHand Robotics, SSI SCHAEFER, Swisslog Holding AG, Teradyne Inc., Vecna Robotics, Vanderlande Industries BV, Zebra Technologies Corp.

Automation Revolutionizes Warehouse Picking Process For Faster E-Commerce Fulfillment
The picking process in the warehouse is increasingly being automated, with increased demand in the e-commerce industry, to reduce the pickup time of items. The automated robot gathers items and brings them to a central location, where an employee can fulfill orders quickly. For instance, Ocado, a British supermarket, started using a grid of picking robots in the warehouse that picks the ordered items and delivers them into crates, which are moved onto conveyors and carried to shelves where an employee picks the crate and delivers the order to the customer, helping to deliver the groceries fast.

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Key Segments -
The industrial robots(warehousing and storage robots) market covered in this report is segmented -
1) By Product Type: Mobile Robots, Articulated Robots, Cylindrical Robots, SCARA Robots, Parallel Robots, Cartesian Robots
2) By Function: Pick And Place, Palletizing And De-palletizing, Transportation, Packaging
3) By Application: E-commerce, Automotive, Consumer Electronics, Food And Beverage, Healthcare, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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