Warehouse Automation Systems Market to Reach US $ 93 Billion by 2031 with 15.7% CAGR

WILMINGTON, DE, UNITED STATES, July 18, 2024 /EINPresswire.com/ -- The warehouse automation systems market was valued at $21.7 billion in 2021, and is estimated to reach $93 billion by 2031, growing at a CAGR of 15.7% from 2022 to 2031.

The service segment is expected to experience fastest growth in the coming years, as they assist in effective functioning of software and platforms.

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Warehouse automation is implemented to automate various warehousing functions such as palletizing, de-palletizing, transportation, picking & placing, and packaging. The use of technology in warehouses reduces the need for human intervention thereby reducing human error and increases the efficiency of warehouse operations. The technology has several applications in various industries, such as e-commerce, automotive, electrical & electronics, food & beverage, and pharmaceutical. Furthermore, increasing investments in research and development activities and surging adoption of IoT and robotic in warehouse management system drives the growth of the warehouse automation systems market.

In addition, rise in e-commerce sales fuel the warehouse automation systems market growth. However, lack of skilled workforce to operate and high set up and installation cost of warehouse robots, high capital investment is expected to impede the warehouse automation systems market growth. Furthermore, increasing adoption of technologies such as AI, bid data, ML, and Others is expected to offer remunerative opportunities for expansion during the warehouse automation systems market forecast.

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By region, the warehouse automation systems market size was dominated by North America in 2021 and is expected to retain its position during the forecast period owing to high advancement in automation technology in developed nations such as U.S. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increase in number of warehouses and technological innovations in the automation industry.

The key players profiled in the warehouse automation systems market analysis are ABB, Badger Meter, Honeywell International Inc., Hydropoint, IBM Corporation, Itron, Landis+Gyr, Neptune Technology, Oracle Corporation, Schneider Electric SE, Siemens AG, Suez, Takadu, Trimble Inc., Xenius, Ayyeka, Ketos. These players have adopted various strategies to increase their market penetration and strengthen their position in the warehouse automation systems industry.

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