Guidehouse Insights estimates global warehouse automation market to grow to over $915 billion by 2033

Market drivers include increased productivity, reduced errors and improved accuracy, reduced injuries and lower labor costs, and improved scalability

BOULDER, Colorado., August 6, 2024 /PRNewswire/ — A new report from Guidehouse Insights examines key trends in warehouse automation.

Companies that own warehouses or ship goods through warehouses have made same-day and overnight shipping commonplace to meet customer expectations. To meet these demands, as well as to increase the efficiency and accuracy of warehouse operations, warehouses have increasingly begun to automate repetitive and tedious processes. According to a new report by Guidehouse Insights, the warehouse automation market is expected to grow by $239.9 billion in 2024 to $915.2 billion in 2033, which gives a compound annual growth rate (CAGR) of 16.0%.

“Warehouse automation technologies are effective solutions that increase productivity, scalability and accuracy of goods flow in warehouses, which have been under greater pressure since the COVID-19 pandemic to respond to new consumer shopping habits,” he says. Jared FeuerResearch Analyst at Guidehouse Insights. “Warehouse automation hardware and software can directly benefit warehouse operators, companies that own warehouses, and retailers whose products flow through the warehouses.”

However, the warehouse automation technology market is still in its infancy, and many challenges need to be overcome before widespread adoption can be expected. Awareness of the benefits of integrating warehouse automation is low, the cost of implementing many automation technologies is high, and the return on investment for these technologies may not be cost-effective in regions where human labor is cheap. In addition, while warehouse automation technologies have improved over the past few years, there are still gaps in how well humans can interact and communicate with these technologies in the warehouse space, according to the report.

Report, Warehouse Automationanalyzes the global warehouse automation market 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 the market drivers and barriers and provides recommendations to industry stakeholders to increase the adoption of warehouse automation technologies. Revenue analyses to 2033 are segmented by technology, global region (North America, Europe, Asia and Pacific, Latin America, Near East & Africa) and industry (retail, health and pharmaceuticals, transportation, food and beverage, electronics, other). The report executive summary is available for free download on the Guidehouse Insights website.

The story continues

About Guidehouse Insights
Guidehouse Insights, the specialized market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and heavily regulated industries. Our insights are based on in-depth analysis of global cleantech markets. The team’s research methodology combines supply-side industry analysis, end-user fundamental research, and demand assessment, combined with in-depth analysis of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. For more information about Guidehouse Insights, visit 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 governance, technology and risk advisory. Combining our experience in the public and private sectors, we help clients solve the most complex challenges and navigate significant regulatory pressures with a focus on transformative change, business resilience and technology-driven innovation. Across a range of advisory, consulting, outsourcing and digital services, we create scalable, innovative solutions that help our clients outsmart complexity and position them for future growth and success. The firm employs more than 16,000 professionals in over 55 locations worldwide. Guidehouse is led by experienced professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues that drive domestic and global economies. For more information, visit www.guidehouse.com.

* The information contained in this press release regarding the report, Warehouse Automation, is a summary and reflects Guidehouse Insights’ current expectations based on market data and trend analysis. Market forecasts and expectations are inherently uncertain, and actual results may differ materially from those contained in this press release or report. You should read the full report to fully understand the assumptions underlying the report’s conclusions and the methodologies used to create it. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any information contained in this press release or report.

For more information contact:

Cecile Fradkin for Guidehouse Insights
+1.646.941.9139
[email protected]

View original content to download multimedia: https://www.prnewswire.com/news-releases/guidehouse-insights-estimates-global-market-for-magazyning-automation-will-grow-over-915-billion-by-2033-302214977.html

SOURCE Guidehouse Insights