Global Piece Picking Robots Market Report 2023: Sector is Expected to Reach $7.4 Billion by 2028 at a CAGR of 62.58% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Piece Picking Robots Market by Robot Type, End User, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global piece picking robots market size reached US$ 401.05 Million in 2022. Looking forward, the publisher expects the market to reach US$ 7,405.91 Million by 2028, exhibiting a CAGR of 62.58% during 2022-2028.

Companies Mentioned

• Berkshire Grey Inc.
• Dematic (Kion Group AG)
• Fritz Schafer GmbH
• Hand Plus Robotics Pte. Ltd.
• Kindred Systems Inc. (Ocado Group)
• Knapp AG
• Nimble Robotics Inc.
• Osaro Inc.
• Righthand Robotics Inc.
• Swisslog Holding AG (kuka AG)
• Universal Robots A/S (Teradyne Inc.)
• XYZ Robotics Inc.

The emerging trend of industrial automation, escalating demand to enhance the efficiency of the logistics and supply chain, and considerable rise in the labor costs represent some of the key factors driving the market.

Piece picking robots are automated systems that are designed to handle and pick individual product pieces from a storage system or warehouse.

These robots use advanced sensors, grippers, and computer vision to identify and grasp products with high precision and accuracy. Characteristics of piece picking robots include high mobility, multi-axis dexterity, and the ability to manipulate objects of varying shapes and sizes.

They are commonly used in warehouses and distribution centers for e-commerce and retail companies to reduce manual labor to be devoted to repetitive and critical tasks in order to meet the high demands of modern supply chains. Using piece picking robots in warehouse provides enhanced speed and productivity, reduced labor costs, and higher worker safety by eliminating the need for workers to handle heavy or dangerous items.

These software-driven, hardware-enabled robots are designed to integrate with other automated systems and can be easily programmed to handle new products or change pick patterns.

The global market is primarily driven by the emerging trend of industrial automation, along with the advent of industry 4.0. This can be attributed to the growing need to minimize travel distance, maximize the use of space, minimize pick errors, and minimize injuries among retail workers.

In line with this, the escalating demand to enhance the efficiency of the logistics and supply chain due to significant growth in the e-commerce industry is creating lucrative growth opportunities in the market. Also, the rising investments in the development of upstream handling of products in e-commerce infrastructure, smaller format stores, and omnichannel fulfillment are providing an impetus to the market.

Moreover, continual technological advancements in the production of robotic arms and new software tools to handle a wider range of items and operate in more complex environments are creating a positive outlook for the market.

Besides this, the growing integration of machine learning (ML), artificial intelligence (AI), and cloud data management systems to shorten development cycles and offer real-time visibility is impacting the market positively. The market is further fueled by the considerable rise in the labor costs on the global level.

Some of the other factors contributing to the market include rapid industrialization, inflating disposable income levels, increasing volumes of orders and shipments, and numerous innovations in robotics.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each segment of the global piece picking robots market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on robot type and end user.

Robot Type Insights

• Collaborative
• Mobile

The report has provided a detailed breakup and analysis of the piece picking robots market based on the robot type. This includes collaborative and mobile. According to the report, collaborative represented the largest segment.

End User Insights

• Pharmaceutical
• Retail/Warehousing/Distribution Centers/Logistics Centers
• Others

A detailed breakup and analysis of the piece picking robots market based on the department has also been provided in the report. This includes pharmaceutical, retail/warehousing/distribution centers/logistics centers, and others.

Key Questions Answered in This Report:

• How has the global piece picking robots market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global piece picking robots market?
• What are the key regional markets?
• Which countries represent the most attractive piece picking robots markets?
• What is the breakup of the market based on the robot type?
• What is the breakup of the market based on the end user?
• What is the competitive structure of the global piece picking robots market?
• Who are the key players/companies in the global piece picking robots market?

For more information about this report visit https://www.researchandmarkets.com/r/lxmn90

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