Global Market for Warehouse Automation Estimated to Grow to More Than $915 Billion by 2033
Market drivers include increased productivity, decreased error and improved accuracy, reduced injuries and labor costs, and improved scalability
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.
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* 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.