The report, ‘Warehousing and Logistics Robots: Global Market Analysis and Forecasts’, found that worldwide sales for the robots reached US$1.9 billion in 2016 ($2.5 billion), forecast to rise to US$22.4 billion (29 billion) by the end of 2021.
Research and Markets also reports that AI advisory service Tractica expects worldwide warehousing and logistics robot unit shipments will increase from 40,000 in 2016 to 620,000 units annually by 2021.
“The market is experiencing strong growth, with many prominent companies showing greater confidence in new robotics technologies that can yield a return on investment (ROI) in less time than it took a few years ago,” the company stated. “In the modern world’s fast-paced, customer-driven economy, the warehousing and logistics industries are looking for robotics solutions, more than ever before, to remain globally competitive.
“While robotics technology has already made an economic impact on the manufacturing sector, it is currently starting to transform supply chain operations to be faster, safer, and more productive. The demand for robots and the supply of matured robotic solutions for the optimisation of logistics processes have created a tipping point that could lead to widespread acceptance and presence of robots in warehouses and logistics operations.”