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Logistics Robot Market is Expected



Logistics robot market is forecasted to grow at a whopping CAGR of 23.7% during the prophesied period of 2021-2025. Further, the expected market value of the logistics robot market is projected at US$12,739.1 Mn by 2025 as compared to US$807.2 Mn in 2017.To get more news about Logistics Robotics, you can visit glprobotics.com official website.

Logistics robots are widely used across global supply chain operations in order to store and move goods across industries and production units. However, the application of logistics robots is not limited to the supply chain domain as they are also extensively used at warehouses and other storage facilities. Considerable levels of uptime and unparalleled efficiency as compared to manual labor impels demand for logistics robots across the global market. Furthermore, the emergence of the COVID-19 pandemic created significant growth prospects for the global logistics robot market as people started opting for online shopping and contactless delivery. Additionally, the demand for logistics robots surged owing to supply chain shortages and proliferation in the demand for heavy goods. Therefore, the logistics robot market is expected to grow at a promising pace on grounds of greater productivity and accuracy in moving the goods.
Automated guided vehicles (AGVs) have showcased remarkable growth in terms of development and adoption. AGVs majorly facilitate storage and warehouse operations where they can maneuver in a definite lane and move the products for storage and shipping. Moreover, these AGVs ensure on-time delivery of products, efficient tracking of shipped items, and electronic control of assembly parts.

Automated guided vehicles go above and beyond to streamline the supply chain and improve the cost-efficiency of logistics. In 2020, automated guided vehicle (AGV) systems ruled the market at the behest of their 42.6% market share. The growing application of AGVs is envisioned to escalate the demand for logistics robots.
n 2020, North America dominated the logistics robot market with a herculean share of 37.6%. As a more nascent trend, the progressive expansion of e-commerce platforms and the automotive industry is steering the demand for logistics robots in the Asia Pacific region. Moreover, the surging technological advancements in manufacturing activities provide a competitive edge to the global market players. Furtherance of the e-tailing sector has simultaneously outlined Asia Pacific as a key logistic hub. Influential markets for logistics robots across APAC are India, China, and Japan. Technical upgrades by South China players in the development of logistics robots are the key growth drivers for China. All in all, the Asia Pacific’s logistics robot market is forecasted to flourish with growth opportunities in the coming years.

World over, the prominent stakeholders taking the lead in the logistics robot market include Geek+, Grey Orange Pte. Ltd., and 6 River Systems.