Logistics Robots Market Set for 19.10% Explosive Growth to 2027 to Reach $20,293.4 Million During (2019-2027) Led by Growing Percentage of Aging Population Globally Leading Towards Labour Shortage

The global logistics robots market accounted for US$ 4,356.2 Bn in 2018 and is expected to grow at a CAGR of 19.10% over the forecast period 2019-2027, to account for US$ 20,293.4 Bn in 2027. During the forecast period of 2019 to 2027, the positive growth outlook towards the growing demand of logistics robots to handle the growing issues of labour shortage is expected to drive the logistics robot worldwide.

In 2018, Asia-Pacific was estimated to hold the largest market share and APAC is expected to be fastest region with a CAGR of 16.3% during 2019 to 2027.

The players present in logistics robots market are AGV International; Clearpath Robotics; Daifuku Co. Ltd.; Fanuc Corporation; Fetch Robotics Inc.; Kion Group AG; KNAPP AG; Kollmorgen; KUKA AG; and Toshiba Corporation among others.

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The above listing of key players is derived by considering multiple factors such as overall revenue, current logistics robots and component portfolio, new product launches, market initiatives, investment in technology up-gradation, and other joint activities. A large number of manufacturer for logistics robots are present in the market. Many firms are focusing on investing hugely for collaborative mobile robot and enhancing its capabilities and expanding its footprint in various geographies. This type of strategy allows companies to strengthen their footprint in the market. In 2019, KNAPP sector and Kratzer Automation have announced a strategic collaboration. The Kratzer Automation software enhances KNAPP's portfolio in the last mile area, creating an all-encompassing software landscape along the entire supply chain.

However, the challenges related to high initial cost for the installation of logistics robots may restrain the future growth of the logistic robots market. Despite these limitations, the rising warehouse automation is projected to offer ample growth opportunities for the players operating in the logistics robots market during the forecast period. Some of the leading players in logistics robots market are highly focusing on strategic market initiatives to enrich their production capabilities as well as to expand their geographical presence across the globe. Also, the players are focusing on receiving numerous strategies to focus strongly on the logistics robots market. This, in turn, is contributing to the growth of the logistics robots market.

The logistics robots market has been segmented on the basis of robot type, function, industry, and geography. Based on robot type, the market has been segmented into robotic arm, AGV, collaborative mobile robots, and others. The collaborative mobile robots segment represented the largest share of the overall logistics robots market throughout the forecast period, and is expected to be the fastest-growing. Based on function, the logistics robots market has been segmented into pick & place, palletizing and de-palletizing, transportation, and packaging. On the basis of industry the market is segmented into healthcare, e-commerce, automotive, outsource logistics, retail, consumer goods, food and beverages, and others. Geographically, the logistics robots market is categorized as North America, Europe, Asia Pacific, Middle East & Africa, and South America.

APAC region held the largest share of the logistics robots market in 2018, and it is expected to continue its dominance during the forecast period of 2019-2027. It has contributed more than 50% to the overall revenue of the logistics robots market in the year 2018. The North America and Europe held the second and third position in the global logistics robots market in 2018 with market shares of >20% and >15%, respectively. The market in North America is anticipated to grow at the highest growth rate from 2019 to 2027. Other developing regions such as the Middle East and Africa and South America are also anticipated to offer ample growth opportunities to the logistics robots market players during 2019-2027.

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The overall logistics robots market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the logistics robots market. It also provides the overview and forecast for the global logistics robots market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the logistics robots market.

On a global scenario, the logistic robots are used majorly for transportation function and are anticipated to maintain a continuous growth over the coming years. The globally traded goods are shipped in standard containers, which demands the application robotics for superior operations. Usually, the goods are palletized, and there is a slight variation in several product shapes and sizes, which has required the automation for loading and unloading of these goods.

The 3D laser vision is integrated with the new robotic software, which aids users with a visibility of different products in containers, determine the ideal loading/unloading sequence, and carry out the process with a high accuracy. Thus, the growth of transportation function market is anticipated to bolster in the forecast period.

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