Locus Robotics
September 30, 2024
Locus Robotics Unicorn News - September 30, 2024
The warehouse robotics market is expected to grow from USD 5.68 billion in 2023 to USD 16.58 billion by 2032, driven by increased automation in logistics and the booming e-commerce sector. This episode explores the technological advancements and market trends fueling this growth.
() Introduction
() Warehouse Robotics Market Size to Reach USD 16.58 Billion by 2032, Driven by Increased Automation in Logistics
The Warehouse Robotics Market, valued at USD 5.68 billion in 2023, is expected to grow to USD 16.58 billion by 2032, with a compound annual growth rate (CAGR) of 12.67% from 2024 to 2032. This growth is driven by increased automation in logistics, fueled by the expanding e-commerce sector and the need for efficient supply chain management. In August 2023, Kiva Systems, an Amazon subsidiary, announced upgrades to its Automated Guided Vehicles (AGVs) to enhance navigation capabilities in dynamic warehouse environments. These improvements aim to support more agile and efficient operations, addressing the complexities of high-volume online shopping and the demand for rapid fulfillment.
