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Warehouse Automation Systems Market will Experience a Dynamic Growth

WILMINGTON, DE, UNITED STATES, February 15, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Warehouse Automation Systems Market Insights by Component (Solution, Service), by Automation Type (Physical Automation, Digital Automation), by Enterprise Size (Large Enterprises, SMEs), by Industry Vertical (Retail and Consumer Goods, Healthcare and Pharmaceuticals, Manufacturing, Food and Beverages, Transportation and Logistics, Automotive, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.

The warehouse automation systems market was valued at $21.7 billion in 2021, and is estimated to reach $93 billion by 2031, growing at a CAGR of 15.7% from 2022 to 2031.

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Warehouse automation is implemented to automate various warehousing functions such as palletizing, de-palletizing, transportation, picking & placing, and packaging. The use of technology in warehouses reduces the need for human intervention thereby reducing human error and increases the efficiency of warehouse operations. The technology has several applications in various industries, such as e-commerce, automotive, electrical & electronics, food & beverage, and pharmaceutical. Furthermore, increasing investments in research and development activities and surging adoption of IoT and robotic in warehouse management system drives the growth of the warehouse automation systems market.

In addition, rise in e-commerce sales fuel the warehouse automation systems market growth. However, lack of skilled workforce to operate and high set up and installation cost of warehouse robots, high capital investment is expected to impede the warehouse automation systems market growth. Furthermore, increasing adoption of technologies such as AI, bid data, ML, and Others is expected to offer remunerative opportunities for expansion during the warehouse automation systems market forecast.

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Competitive Analysis:
The competitive environment of Warehouse Automation Systems Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Warehouse Automation Systems Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Badger Meter
Honeywell International Inc. H
IBM Corporation
Neptune Technology
Oracle Corporation
Schneider Electric SE
Siemens AG
Trimble Inc.
Ketos and Many More

Region wise, the warehouse automation systems market size was dominated by North America in 2021 and is expected to retain its position during the forecast period owing to high advancement in automation technology in developed nations such as U.S. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increase in number of warehouses and technological innovations in the automation industry.

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With the rapid spread of COVID-19, majority of people faced sudden surges in demand for financial resources, owing to sudden increase in panic among public, which, in turn, increased the number of transactions performed at a time. In addition, many companies are taking active initiatives to mitigate the impact of COVID-19 on business. For instance, in May 2020, Honeywell accelerated the development and production of vaccines and medical therapies through fast-track automation.

For instance, in April 2020, ABB offered free access to software-as-a-service and digital application to help manufacturing plants and processing industries. Thus, such developments are expected to drive the growth of the warehouse automation systems industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Originally published at https://www.einpresswire.com/article/688804267/warehouse-automation-systems-market-will-experience-a-dynamic-growth-global-value-usd-93-billion-by-2031

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