According to a Technavio report, the global logistics robots market is expected to grow at a CAGR of more than 28% from 2018 to 2022, according to a new market research study by Technavio. The report presents a comprehensive research of the global logistics robots market by application (indoor and outdoor logistics and factory logistics) and by solution (hardware, services, and software). It also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
Market Driver
The demand for logistics robots is expected to see an increase during the forecast period. This growth is attributed to the good ROI offered by them when compared with systems such as forklifts that have traditionally been used in manufacturing and non-manufacturing environments.
Technavio claims some of the factors that prove to be of advantage for when compared with forklifts and human labor are the drop in the cost of equipment, components such as sensors, and the cost of integration along with the time required for integration. Advanced technologies such as machine learning logic, human-machine collaboration, and environmental analysis technologies are adopted with logistics robots. Also, rising labor cost and stringent government regulations are also contributing to the higher adoption of robotics labor.
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