- The report added that the degree to which the COVID-19 pandemic will impact the industry will vary considerably by region and by vertical sector
- The increasing mergers and acquisitions in research and development (R&D) and the industry’s strong emphasis on smart automation solutions and autonomous robots will fuel market expansion
The global warehouse automation market is expected to nearly double its size, expanding from $14 billion in 2019 to $27.2 billion by 2025 as per a report by Frost & Sullivan. It also said that the automated guided vehicles (AGV) segment are forecast to reach $4.6 billion while the autonomous mobile robot (AMR) segment is expected to reach $6.8 billion.
The report added that the degree to which the COVID-19 pandemic will impact the industry will vary considerably by region and by the vertical sector. In nations like the US and China, the recovery time is going to be much faster due to their strong position with respect to technology development and adoption of warehouse automation solutions.
Doraiswamy Bharath Sunderraj, TechVision Research Analyst at Frost & Sullivan said, “The warehouse industry across the globe is experiencing transformation at a rapid pace with the increasing adoption of different types of autonomous and automated robotic solutions such as automated storage and retrieval systems (AS/RS), goods-to-person technology (G2P), automated guided vehicles (AGVs), automated guided carts (AGCs), autonomous mobile robots (AMRs), unmanned aerial vehicles, and articulated robotic arms. Further, AS/RS have the highest adoption rate because of their promising features such as increased inventory storage density, reduced labour costs, and increased inventory-picking accuracy.”
Increasing mergers and acquisitions in research and development
Sunderraj added, “Advancement in navigation technology is one of the prominent drivers of autonomous delivery robots. Autonomous robotic solutions using LiDAR with AI and machine learning are the currently available advanced navigational solutions.”
As per the report, high implementation and maintenance costs, the requirement of skilled personnel for maintenance, and lack of adaptability are likely to slow down the growth of the autonomous delivery robots market. It also said that increasing mergers and acquisitions in research and development (R&D) and the industry’s strong emphasis on smart automation solutions and autonomous robots will fuel market expansion.
Cost model planning
The report said that vendors should look at various growth opportunities like startups offering autonomous robotic solutions should mainly focus on technology development and improving brand value to compete with large OEMs. For technology developers, cost model planning will be key to gain a competitive edge among other key companies. Software developers should partner with technology and hardware developers to provide the required software support to their clients.
As per the report, market players should invest in the development of the autonomy of robotic solutions. This can include enhanced navigation and obstacle detection solutions by using multiple types of sensors. They must be prepared to offer solutions in the future that can perform several tasks at the same time said the report.