Market drivers include increased productivity, decreased
error and improved accuracy, reduced injuries and labor costs, and
improved scalability
BOULDER, Colo.,
Aug. 6,
2024 /PRNewswire/ -- A new report from
Guidehouse Insights analyzes major trends in warehouse
automation.
Companies that own warehouses or ship through warehouses have
made overnight and one-day shipping commonplace to meet consumer
expectations. To satisfy these demands as well as increase the
efficiency and accuracy of warehouse operations, warehouses have
increasingly started automating repetitive and strenuous processes.
According to a new report from Guidehouse Insights, the warehouse
automation market is expected to expand from $239.9 billion in 2024 to $915.2 billion in 2033, representing a compound
annual growth rate (CAGR) of 16.0%.
"Warehouse automation technologies are effective solutions for
increasing the productivity, scalability, and accuracy of goods
movement within warehouses, which have seen more pressure to
respond to new consumer purchasing habits since the COVID-19
pandemic," says Jared Feuer,
research analyst with Guidehouse Insights. "Warehouse automation
hardware and software can directly benefit warehouse operators,
companies that own warehouses, and retailers whose products flow
through warehouses."
However, the market for warehouse automation technologies is
nascent, and numerous challenges must be overcome before widespread
adoption can be expected. Awareness of the benefits of integrating
warehouse automation is low, the cost of implementing many of the
automation technologies is high, and the return on investment for
these technologies may not be worthwhile in regions where human
labor is cheap. Further, while warehouse automation technologies
have improved over the last few years, there are still gaps in how
well humans can collaborate and communicate with these technologies
within the warehouse space, according to the report.
The report, Warehouse Automation, analyzes the global
market for warehouse automation for seven technologies: autonomous
guided vehicles (AGVs), carousels and conveyors, automated storage
and retrieval systems (AS/RS), autonomous mobile robots (AMRs),
collaborative robots (cobots), automated sortation systems, and
software. The report discusses market drivers and barriers and
issues recommendations to industry stakeholders for increasing the
adoption of warehouse automation technologies. Revenue analyses
through 2033 are segmented by technology, global region
(North America, Europe, Asia
Pacific, Latin America,
Middle East & Africa), and industry (retail, health and
pharmaceuticals, transportation, food and beverage, electronics,
other). An executive summary of the report is available for free
download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the
dedicated market intelligence arm of Guidehouse, provides research,
data, and benchmarking services for today's rapidly changing and
highly regulated industries. Our insights are built on in-depth
analysis of global clean technology markets. The team's research
methodology combines supply-side industry analysis, end-user
primary research, and demand assessment, paired with a deep
examination of technology trends, to provide a comprehensive view
of emerging resilient infrastructure systems. Additional
information about Guidehouse Insights can be found at
www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global
provider of consulting services to the public sector and commercial
markets, with broad capabilities in management, technology, and
risk consulting. By combining our public and private sector
expertise, we help clients address their most complex challenges
and navigate significant regulatory pressures focusing on
transformational change, business resiliency, and technology-driven
innovation. Across a range of advisory, consulting, outsourcing,
and digital services, we create scalable, innovative solutions that
help our clients outwit complexity and position them for future
growth and success. The company has more than 16,000 professionals
in over 55 locations globally. Guidehouse is led by seasoned
professionals with proven and diverse expertise in traditional and
emerging technologies, markets, and agenda-setting issues driving
national and global economies. For more information, please visit
www.guidehouse.com.
* The information contained in this press release concerning
the report, Warehouse Automation, is a
summary and reflects the current expectations of Guidehouse
Insights based on market data and trend analysis. Market
predictions and expectations are inherently uncertain and actual
results may differ materially from those contained in this press
release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report's
conclusions and the methodologies used to create the report.
Neither Guidehouse Insights nor Guidehouse undertakes any
obligation to update any of the information contained in this press
release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse
Insights
+1.646.941.9139
cfradkin@scprgroup.com
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SOURCE Guidehouse Insights