Global Logistics Robots Market Report 2023: Increase in the number of logistics and warehousing companies incorporating robots is driving growth
The global logistics robots market size reached US$ 15.2 billion in 2022. Looking forward, Research and Markets expects the market to reach US$ 58.6 billion by 2028, exhibiting a CAGR of 25.22% during 2022-2028.
An increase in the number of logistics and warehousing companies that are incorporating robots to improve speed and efficiency and remain competitive in the market are propelling the demand for logistics robots worldwide.
Moreover, the adoption of advanced technologies, such as robotic warehousing and logistics technologies, is growing on account of the sudden outbreak of the coronavirus disease (COVID-19) and the consequent lockdowns imposed by governments of various countries to prevent the transmission of the pandemic. This can also be accredited to the temporary closure of manufacturing units, disruptions in the supply chain and labour shortage.
Due to the increasing internet penetration and a rising preference for online shopping, the e-commerce sector is burgeoning, especially in emerging economies. Organizations in this sector are emphasizing the improvement of packaging
quality, concentrating on timely delivery and deploying logistics robots, which is anticipated to fuel the market growth in the upcoming years.
Three of the biggest names in global technology have joined forces to highlight the ability of already-available 5G, artificial intelligence (AI) and automation solutions to transform manufacturing and improve productivity, efficiency, environmental impact and safety, while reducing costs.
Valmet will deliver key technologies, automation and services to Naini Papers’ cooking and fiberline rebuild and new specialty paper machine PM 3 at their mill in Kashipur, India. The delivery will increase the mill’s capacity and support meeting the market demand of specialty coated paper. The delivery is scheduled for the first quarter 2025.