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Guidehouse Insights Estimates Global Market for Warehouse Automation Will Grow to More Than $915 Billion by 2033
Wednesday, August 14, 2024
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
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