Automation has been steadily added to a growing number of warehousing and logistics companies to gain speed, efficiency and increased profits. While first seen as a luxury, automation technologies are advancing in capability and becoming more affordable each year. According to a new report from Tractica, the demand for robots and the supply of the advanced robotic solutions for the optimization of logistics processes, combined with labor shortages, have created a tipping point that could lead to widespread adoption of robots in warehouses and logistics operations to assist and displace human workers.
The report predicts that worldwide shipments of warehousing and logistics robots will rapidly grow over the next five years to about 938,000 units annually by 2022. Currently, there are 194,000 units each year. However, the firm anticipates the rate of growth will begin to slow after 2021 as many major market players will have adopted robotic systems by then. Additionally, the worldwide revenue is also expected to increase from $8.3 billion in 2018 to $30.8 billion in 2022, providing significant opportunities for established participants and emerging players.
"The warehousing and logistics robot market is experiencing strong growth, and supply chains are being transformed as companies replace fixed infrastructure and outdated processes with flexible, scalable robotic solutions to meet the changing demands of modern commerce," says senior analyst Glenn Sanders.