Technavio’s report “Logistics Robots Market by Application and Geography – Forecast and Analysis 2020-2024” predicts a CAGR of 31.24% from 2022 through 2025.
As is typical with market outlook reports, this one contains a geographical market analysis, key segment analysis, and insight into challenges and trends.
Technavio segmented the report by application (indoor and outdoor logistics and factory logistics) and geography, including APAC, North and South America, Europe, and MEA.
They predict that one of the key drivers for this market will be the excellent ROI offered by logistics robots and that 48% of growth will originate from APAC.
End users have few options for substitutes to logistics robots, including cobots, automated warehousing, artificial intelligence, and robotic process automation. The company predicts that the threat of substitutes will be moderate as costs reduce due to component prices and innovation.