Asia Pacific Logistics Robots Market
Asia Pacific Logistics Robots Market Size More Than Triples to Touch USD 13.75 Billion by 2029
Published | 20 November 2023
Asia Pacific logistics robots market is flourishing because of an increasing need for safety among workers in the workplace and the thriving e-commerce industry.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia-Pacific logistics robots market size at USD 4,540.4 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Asia-Pacific logistics robots market size to grow at a significant CAGR of 17.15% reaching a value of USD 13,749.7 million by 2029. Major growth drivers for the Asia-Pacific logistics robots market include an increasing e-commerce sector in various nations and growing warehouse facilities. As these warehouses are increasingly seeking equipment that offers enhanced efficiency and speed, there is a corresponding surge in the expected demand for logistics robots, particularly within the Asia-Pacific (APAC) region. Notably, an increasing demand for advanced robotic solutions and the persistent labor shortage issue present significant opportunities for the widespread adoption of robots across various industries. These factors are expected to be key drivers of the logistics robot market. Another driving force is the continual expansion of the global e-commerce sector and the growing on-demand economy have spurred the need for advanced autonomous mobile robots, enabling companies to address the challenges posed by labor shortages, particularly in the Asia-Pacific region. The Asia-Pacific region encompasses a number of developing countries experiencing substantial growth in their logistics sectors. In addition to China's transformation into a hub for high-skilled robot manufacturing, other nations such as South Korea, Japan, and India have become attractive destinations for businesses seeking to relocate their low to medium-skilled manufacturing operations due to lower labor costs. These factors are expected to propel the logistics robot market. Also, the robust economic growth in the region has led to increase per-capita incomes and consumer spending, resulting in a notable uptick in the sales of logistics robots and contributing to the overall expansion of the logistics robot market in Asia-Pacific. However, high initial investment costs and complications involved in the technical applications are anticipated to restrain the overall market growth during the period in analysis.
Asia-Pacific Logistics Robots Market – Overview
The Asia-Pacific logistics robots market refers to the industry sector in the Asia-Pacific region that involves the development, production, deployment, and utilization of robotic systems and automation technologies designed to enhance and optimize various aspects of logistics and supply chain operations. These robots are employed for tasks such as material handling, warehouse management, order fulfillment, and transportation within the logistics and distribution processes. The market encompasses the sale and integration of robotic solutions aimed at improving operational efficiency, reducing labor costs, and meeting the growing demands of the logistics and e-commerce industries in the Asia-Pacific region.
Impact of COVID-19 on Asia-Pacific Logistics Robots Market
COVID-19 pandemic adversely affected the Asia-Pacific logistics robots market. As the crisis disrupted global supply chains and led to labor shortages and increased safety concerns, the demand for automation and logistics robots surged. Businesses in the region sought to enhance their operational resilience, reduce human contact, and maintain consistent supply chain operations. This drove greater adoption of logistics robots for tasks like contactless order fulfillment and material handling. The pandemic accelerated the digitization of the logistics sector, making it more reliant on robotic solutions. Consequently, the Asia-Pacific logistics robots market experienced accelerated growth and transformation in response to the pandemic's challenges.
Asia-Pacific Logistics Robots Market – By End User
On the basis of end user, the Asia-Pacific logistics robots market is divided into Healthcare, Warehouse, and Hospitality segments. The warehouse segments is expected to hold the highest share in the Asia-Pacific logistics robots market by end user during the forecast period. Warehouses are central hubs in the logistics and supply chain process, and the demand for automation in these facilities is consistently increasing. Logistics robots, especially in warehouse settings, offer significant advantages in terms of efficient material handling, order fulfillment, and inventory management. The ongoing growth of e-commerce, coupled with the need for quick and accurate order processing, has prompted greater adoption of logistics robots in warehouses to enhance operational efficiency. Furthermore, the Asia-Pacific region is witnessing a boom in logistics and e-commerce activities, which further fuels the demand for these robots in warehouse operations.
Major players operating in the Asia-Pacific logistics robots market include GreyOrange, Locus Robotics, Quicktron (FlashHold), GEEK+, XYZ Robotics, Hi-tech Robotic Systemz, Seegrid Corporation, Yujin Robot Co., Ltd, ForwardX Robotics, and SIASUN. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Asia-Pacific Logistics Robots Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Asia-Pacific Logistics Robots Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Asia Pacific Logistics Robots Market, By Type (Autonomous Mobile Robots, Robot Arms, Automated Guided Vehicles); By Function (Pick & Place, Palletizing & Depalletizing, Transportation, Packaging); By End User (Healthcare, Warehouse, Hospitality); By Region (China, India, Japan, South Korea, Australia & New Zealand, Indonesia Malaysia, Singapore, Vietnam, Rest of APAC), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: November 2023
Thriving e-commerce industry and an increasing focus on safety among workers in the workplace are projected to propel the expansion of the Asia-Pacific logistics robots market during the forecast period between 2023 and 2029.
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