Market Trends of Piece Picking Robots Industry
Collaborative Robots to Drive the Market
- Collaborative mobile robots augment humans' work to improve accuracy and lead warehouse associates to correct pick locations and utilize UPC scanning, further reducing human error. According to HMC Investment Securities, it is expected that, by 2025, the global co-bot market size will reach around USD 12.8 billion, and the Piece Picking Robots Market is envisioned to get a boost.
- While the collaborative robot market is relatively new, it's poised for massive growth over the next ten years. Collaborative robots are robots capable of safely working alongside human workers and becoming more sophisticated and useful inside and outside factory settings. Collaborative robots are advancing in capability while simultaneously becoming cheaper and more widely available. These two determinants are vital contributors to the explosive market growth ahead.
- With collaborative piece-picking robots, there is an opportunity to introduce automation into the current pick environment, not disrupt or rearrange the setup, and witness significant productivity gains. For instance, in May 2022, Hyundai plans USD 5 billion investment in the United States by 2025 to further develop mobility technologies in areas like autonomous driving, robotics, and A.I.
- The primary factor driving the market is the Introduction of advanced robots, capable of working with humans in areas like smart parts assembly and electronics component production and assembly, fueling the demand for collaborative robots.
- According to HMC Investment Securities, global collaborative robots (co-bot) sales will reach around 134,400 units in the United States, and china is expected to sell the largest units accounting for 2,43,600 by 2025, which will further drive the market growth.
- There are quite a few applications where collaborative robots are deployed: packing, quality testing, material handling, machine tending, assembly, welding, and others. Among these, the material handling segment is expected to experience the most significant growth in collaborative robot installments.
- According to the Robotic Industries Association, one of the main factors contributing to the increasing adoption of collaborative robots is their constantly lowering price tag. With many collaborative robots available for under USD 45K, they are becoming viable outside the factory setting. No matter the setting, the low price tag makes automation investment more accessible and more comfortable to justify.
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North America is Expected to Hold Significant Market Share
- The piece picking robots to combine cobots and mobile robots in warehouses and e-commerce fulfillment facilities has benefitted the North American region. Most of the USA robots are imported from Japan and Europe (source: IFR). Although the presence of numerous important robot system integrators.
- The 3PL companies in the region are increasingly looking at different customer profiles to understand the best applications from their perspectives. Also, multiple trends, such as making investments, encouraging hackathons, trend communities, and startup labs, are being observed. For instance, in October 2022, V-Trans from India announced a five-fold expansion plan in its warehouse portfolio to more than 5 million square feet in the top 40 cities of India over the next three years, as it expects a major boost to business from the government's recently announced National Logistics Policy.
- It is also believed the allied industry needed further automation even before COVID-19 casts the issue of labor tenuousness. According to Salary.com, the average hourly wage for a Warehouse Worker in the United States is USD 17 as of May 01, 2023, but the range typically falls between USD 15 and USD 18.
- Specifically, in the agriculture sector, where farmers have spent over USD 34 billion a year on labor in the United States (according to the USDA), the scarcity of H2B visas and an aging worker population has led to a shift to automation. Though it is farfetched on adopting piece pick robots, active developments have been considered.
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