The global logistics and warehouse robot market is expected to witness significant growth over the forecast period 2017-2021 due to the rising need for automation across growing industrial applications. Robots can automate the repetitive and time-consuming tasks carried by the human workforce. This potentially helps the organizations to enhance their efficiency and reduce the cost spent on training humans. Moreover, with the introduction of robots into various logistics and warehouse operations, the companies can eliminate the human intervention to some extent and reduce the unexpected human errors in the overall process.
This high scale growth of the logistics and warehouse robot industry is subsequently influencing the market. Therefore new advanced robotics technologies are being developed. The growing e-commerce market, high efficiency at low cost and enhanced precision are some of the key drivers for the growth of the global logistics and warehouse robot market.
Moreover, the rising venture capital investments, growing Third Party Logistics (3PL) market and the introduction of industry 4.0 into logistics and warehouse is providing an opportunity for the growth of the global logistics and warehouse robot market. There are mainly six types of logistics and warehouse robot that include mobile robots, collaborative robots, articulated robots, SCARA robots, parallel robots and Cartesian robots. In addition to this, the market of the collaborative robots is expected to have the highest growth rate during the forecast period 2017-2021 due to its capability of safely working along with humans.
Furthermore, the logistics and warehouse robots have been deployed by various end-users into multiple industries including automotive, e-commerce, pharmaceuticals, food and beverages, electrical and electronics, and others. The end-users from e-commerce industry acquired the most significant market share; in 2016, however, automotive end-users are expected to have the high growth rate during the forecast period, 2017-2021.
By analysis, the global logistics and warehouse robot market generated $2,234.3 million in the year 2016. Asia-Pacific is expected to acquire the largest revenue in the global logistics and warehouse robot market by 2021 with China acquiring the most significant market share, globally. However, North America is expected to have the highest growth rate during the forecast period 2017-2021.