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Warehouse Automation Market Size to Worth USD 71,030 Million by 2032

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Ottawa, July 19, 2023 (GLOBE NEWSWIRE) — The global warehouse automation market size was valued at USD 16.23 billion in 2022. The latest technologies are available to enhance the throughput of inside operations of warehouses, relying on robots, artificial intelligence (AI), and big data. Warehouse automation facilitates tools that improve productivity, minimize errors due to manual product handling, maximize efficiency, optimize throughput processes, provide a safe environment, and avoid stockouts. Autonomous robots are employed at warehouses to perform tasks such as picking and sorting items, transporting goods within the warehouse, and even packing and shipping orders.

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Regional Insights

Europe is projected to become another attractive marketplace for warehouse automation, driven by the growing adoption of industrial automation and control solutions in the region. Warehouse automation is crucial in optimizing supply chain processes by improving inventory management, order accuracy, and shipment tracking, which helps companies meet client demands while reducing costs and enhancing competitiveness.

Latin America is expected to witness a noticeable growth during the forecast period. The availability of advanced technologies, such as robotics, artificial intelligence, the Internet of Things (IoT), and cloud computing, has contributed to the growth of warehouse automation in Latin America. These technologies enable real-time monitoring, predictive analytics, and seamless integration across various warehouse systems.

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Report Highlights

  • By type, the warehouse systems segment leverages big data analytics and AI algorithms to analyze vast amounts of data collected from various sources, which include sensors, machines, and software systems.
  • By component, the hardware segment is the most lucrative segment of the market, this improves order fulfillment speed and accuracy, resulting in higher customer satisfaction.
  • By technology, automated storage and retrieval systems segment leads the market, it eliminates manual handling and reduces human errors, resulting in faster and more accurate order fulfillment. It maximizes the use of vertical space, allowing for high-density storage and potentially reducing the footprint required for warehousing operations.
  • By application, the e-commerce segment is expected to be the most attractive in the market. Warehouse automation accelerates order fulfillment processes. This system can pick, pack, and sort items faster than manual labor, reducing order processing time. This speed is crucial in meeting customer expectations for fast shipping and delivery.
  • By end-users, the manufacturing segment is expected to carry the largest share of the market. Industrial robots are used for material handling, pick and place, assembly, and packaging tasks. They can work autonomously or in collaboration with humans.

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Scope of the report

Coverage Details
Market Size in 2030 USD 52.87 Billion
CAGR 15.91% from 2023 to 2032
Hardware Segment Share 80% in 2022
Software Segment Share 20% in 2022
Key Players Honeywell Intelligrated, Aeologic Technologies, Kiva Systems, GreyOrange, Swisslog, Geek+ Jizhong Energy Storage, Viastore Systems, Kardex Remstar, Interroll, and Others

Market Dynamics

Driver

  • Rising adoption of robotics in warehousing

Warehouse operations can be physically demanding and potentially hazardous for workers. By deploying robots for tasks involving heavy lifting, repetitive motions, or exposure to dangerous environments, companies can minimize the risk of workplace injuries and enhance employee safety. Robotics in warehousing can be integrated with other technologies like artificial intelligence (AI), machine learning, and the Internet of Things (IoT). These integrations enable robots to gather and analyze data, make autonomous decisions, and collaborate with other warehouse systems, resulting in a more interconnected and intelligent warehousing ecosystem. Robots designed for warehousing are often compact and can operate in narrow spaces.

They can be used to maximize the utilization of available warehouse space by efficiently navigating through aisles, stacking inventory vertically, and optimizing storage configurations. Robots can work tirelessly and consistently, improving productivity in warehousing operations. They can perform repetitive tasks much faster than humans, leading to increased throughput and shorter order fulfillment times which can be particularly beneficial in e-commerce fulfillment centers that handle large orders.

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Restraint

  • Lack of skilled professionals

Warehouse automation technologies require skilled professionals with the expertise to design, integrate, and implement automation systems effectively. The lack of skilled workers can lead to challenges in deploying automation solutions efficiently and may result in delays or inefficiencies during the implementation process.

Proper training is crucial for operating and maintaining automated warehouse systems. Skilled professionals are vital in training other employees to use and interact with automation technologies effectively. The need for experienced trainers can hinder knowledge transfer and make it challenging for workers to adapt to new technologies, resulting in decreased productivity and increased error rates.

Skilled professionals in the warehouse automation field contribute to innovation by developing new technologies and solutions. They play a vital role in keeping up with the latest advancements and adapting them to the specific needs of warehouses. A shortage of skilled workers may slow innovation and limit the industry’s ability to adopt emerging technologies, potentially putting businesses at a disadvantage compared to their competitors.

Opportunity

  • Increasing research and development activities

Research and development focus on developing automation solutions tailored to industry needs and requirements. This customization enables companies to address unique challenges in their operations, resulting in optimized workflows, inventory management, and order processing. Customized automation solutions offer a competitive edge and opportunities for differentiation in the market. While automation may replace some manual tasks, it also creates opportunities for upskilling and job creation. Research and development activities lead to new roles, such as automation engineers, data analysts, and system integrators. Skilled professionals can find employment in designing, implementing, and maintaining automation systems, ensuring the smooth functioning of warehouse operations.

Research and development aim to streamline warehouse processes, reduce manual labor, and minimize errors. By developing innovative automation solutions, companies can achieve higher efficiency levels, optimize resource utilization, and improve overall operational performance, opening cost savings opportunities, faster order fulfillment, and enhanced customer satisfaction. It promotes the development of eco-friendly solutions. Automated systems can optimize energy consumption, reduce waste, and minimize carbon emissions. By incorporating sustainable practices into their operations, companies can seize opportunities to reduce costs, enhance brand reputation, and meet the growing demand for environmentally conscious business practices.

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Challenge

  • High upfront costs

Implementing warehouse automation systems requires significant equipment, software, and infrastructure investment. The initial costs are high, especially for smaller businesses, which can be a barrier to entry for some companies. Integrating different automation components and programming them together requires specialized expertise. The costs associated with integrating various systems, configuring software, and ensuring compatibility can be significant. Implementing automation requires modifying the existing warehouse infrastructure to accommodate the new equipment, which may involve structural changes, electrical upgrades, or installing new systems such as automated guided vehicles or robotic workstations. Such services or repairs may require high upfront costs and can be challenging for the market’s growth.

Related Reports

  • Robotic Process Automation Market – The global robotic process automation market was valued at USD 4.39 billion in 2022 and is expanding around USD 54.57 billion by 2032 with a CAGR of 28.7% from 2023 to 2032.
  • Distribution Automation Market – The global distribution automation market was valued at USD 21.4 billion in 2021 and it is expanding around USD 41.9 billion by 2030 with a CAGR of 7.75% from 2022 to 2030.
  • Logistics Automation Market – The global logistics automation market was valued at USD 52.6 billion in 2021 and it is expanding around USD 162.5 billion by 2030 with a CAGR of 13.15% from 2022 to 2030.

Recent Developments:

  • In March 2023, Mahindra Logistics Ltd. (MLL) and Ascendas-Firstspace declared the establishment of a one million sq ft multi-customer warehouse park in Talegaon, Pune, in Maharashtra. The warehouse will be built per the firm’s sustainability standards incorporating recycled construction material, renewable energy waste management, state-of-the-art automation, and liquid discharge management.  
  • In March 2022, Beckhoff USA was advancing its distribution operations with Retrieval System from OPEX Corporation and the latest Infinity Automated Storage to quickly deliver major-edge automation products to clients. This project was at Beckhoff’s United States headquarters in Savage, Minnesota, to improve shipments and deliveries in the United States.

Market Segmentation

By Type

  • Basic Warehouse
  • Warehouse System
  • Mechanized Warehouse
  • Advanced Warehouse

By Component

  • Hardware
  • Software

By Technology

  • Automated Storage and Retrieval Systems (AS/RS)
  • Automatic Guided Vehicles (AGVs)
  • Autonomous Mobile Robots (AMRs)
  • Voice Picking and Tasking
  • Automated Sortation Systems

By Application

  • E-commerce
  • Grocery
  • Apparel
  • Food & beverage
  • Pharmaceutical
  • Automotive

By End-Users

  • Retailers
  • Manufacturers
  • Distributors

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Artificial Intelligence

KEENON Robotics Explored ‘Where Humans Meet Machines’ at the World Economic Forum’s Annual Meeting of the New Champions Dalian 2024: Robots Open The Door for AI to Enter The Physical World

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DALIAN, China, June 28, 2024 /PRNewswire/ — KEENON Robotics, a global leader in commercial service robotics, was honored to participate in the World Economic Forum’s 15th Annual Meeting of the New Champions, also known as the Summer Davos Forum, held in Dalian, China from June 25-27. Tony Li, CEO and Founder of KEENON Robotics, was invited to several key sessions, sharing insights and engaging with industry experts. He also delivered a presentation titled “Autonomous Systems: Where Humans Meet Machines” on the final day, discussing AI and robotics trends with leaders and participants from various sectors around the world.

The forum brought together top academics, politicians, business leaders, youth and civil society to address global issues. Themed “Next Frontiers for Growth,” this year’s forum focused on six pillars: the new global economy, China and the world, entrepreneurship in the age of AI, new frontiers for industries, investing in people, and connecting climate, nature, and energy. Approximately 1,600 guests from around 80 countries and regions explored new economic pathways and global trends, addressing significant and trending topics in the global economy.
During the presentation, Li highlighted the transformative impact of intelligent autonomous systems, emphasizing their independent decision-making capabilities and integration into human life through AI advancements, thereby bridging AI with the physical world. He also discussed the evolution of traditional robots, primarily used in industrial scenarios for repetitive tasks, and explained how AI innovations are enabling the development of general-purpose robots, now applied in industries such as hospitality and food service, with potential broader societal implications.
Li also pointed out that the increasing adoption of diverse types of robots in East Asia reflects rapid technological advancements, growing market demand, and a culture of innovation in the region. It underscores the importance of preparing for a future where intelligent autonomous systems will play an increasingly prevalent role in society.
KEENON Robotics remains committed to exploring new frontiers in global robotics applications, driven by innovation, collaboration and a dedication to advancing technology for the benefit of society.
For more information and press inquiries, please contact [email protected] or visit http://www.keenon.com/en/ 
About KEENON Robotics
A global leader in commercial service robots and solutions, KEENON Robotics has been at the forefront of the advanced service robot market since 2010. Harnessing cutting-edge technologies in robotics and cloud computing, the company is trusted by businesses worldwide. KEENON Robotics is dedicated to creating value, fostering innovation, and contributing to industry growth across various sectors.
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Globant Augments Software Development Life Cycle with Its New AI Agents

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Globant’s more than 10 years of investment in AI are now reflected in an innovative suite of AI Agents and products to empower teams and boost resultsThese new AI Agents will be augmented by humans and will impact the full SDLC, including backend prototyping, application design, testing, and more, to enhance efficiency by solving tasks autonomously SAN FRANCISCO, June 27, 2024 /PRNewswire/ — Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions, announced the integration of its proprietary AI Agents to the software development life cycle (SDLC) to enhance its core development capabilities. Supervised by humans, these AI Agents are designed to enhance Globant’s solutions and keep supporting various industries in accelerating their AI adoption.
Combined with Globant X’s already existing AI products such as Augoor, MagnifAI, Navigate, GeneXus Next, and GeneXus Enterprise AI, the new AI Agents co-create more efficient development cycles by autonomously performing tasks. Globant’s teams will leverage new AI Agents throughout the full cycle with the following initial set of Agents:
– Product Definition AI Agent: Takes multiple inputs to break down the user stories that the development team needs to build a product
– Backend Prototyping AI Agent: Enables users, regardless of their technical knowledge, to create the backend of a business application in record time  
– Application Design AI Agent: Brings your vision to life from a simple text input, accelerating the design process and simplifying teamwork
– Code Tester AI Agent: Helps companies deliver high-quality software, faster, by developing comprehensive test plans and executing those tests
– Code Fixer AI Agent: Fixes issues based on contextual understanding of the existing codebase and the reported bug
“Until today, the power of AI productivity lay largely in the hands of individuals. Globant is bringing a breakthrough shift in the symbiotic relation between AI and humans by introducing a set of sophisticated AI Agents. Augmented and supervised by humans, these AI Agents will streamline operations, bring efficiencies, and grant scalability at a corporate level. The potential productivity gain of AI Agents rivals the breakthrough of Henry Ford’s assembly line, which made manufacturing more efficient and scalable,” said Martín Migoya, Co-Founder and CEO of Globant.
As an industry pioneer, Globant has incorporated artificial intelligence throughout its organization since 2013 to create best-in-class solutions that deliver real value to clients. From the initial launch of the Data and AI Studio to the creation of these AI Agents, Globant remains at the forefront of innovation. Almost  100% of Globant’s pods are AI-certified, ensuring that all teams can apply the power of AI to every one of their projects.
“We are transforming our approach to product development by utilizing advanced AI to bring out the best of both worlds: technology and humanity,” said Diego Tartara, Chief Technology Officer at Globant. “Enhancing human and AI collaboration is poised to revolutionize business operations, leading to unprecedented productivity and growth to many industries. Globant’s AI Agents combined with our suite of AI platforms provide a clear advantage to help organizations benefit from these gains.” 
Globant harnesses disruptive tech to put businesses at the forefront. To learn more about Globant’s AI and digital transformation journey, solutions, and milestones, click here.
About GlobantAt Globant, we create the digitally-native products that people love. We bridge the gap between businesses and consumers through technology and creativity, leveraging our experience as an AI powerhouse. We dare to digitally transform organizations and strive to delight their customers.
We have more than 28,900 employees and are present in 33 countries across 5 continents, working for companies like Google, Electronic Arts, and Santander, among others.We were named a Worldwide Leader in AI Services (2023) and a Worldwide Leader in CX Improvement Services (2020) by IDC MarketScape report.We are the fastest-growing IT brand and the 5th strongest IT brand globally (2024), according to Brand Finance.We were featured as a business case study at Harvard, MIT, and Stanford.We are active members of The Green Software Foundation (GSF) and the Cybersecurity Tech Accord.Contact: [email protected] Sign up to get first dibs on press news and updates.For more information, visit www.globant.com

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Artificial Intelligence

Value-Added Resellers (VARs) Software Market Size to Grow at a CAGR of 11% | Valuates Reports

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BANGALORE, India, June 27, 2024 /PRNewswire/ — Value-Added Resellers (VARs) Software Market is Segmented by Type (On-premise, Cloud-based), by Application (Large Enterprises, SMEs): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Value-Added Resellers (VARs) Software Market was valued at 550 million USD in 2023 and witnessed a CAGR of 11% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Value-Added Resellers (VARs) Software Market
The value-added reseller (VAR) industry is expanding as a result of numerous important causes. The growing complexity of technological solutions, which necessitates specialist knowledge to customize goods to match particular client needs, is one important factor. VARs’ ability to provide specialized solutions that go above and beyond the original products makes them more appealing to companies searching for streamlined, integrated systems. The demand for VARs is also increasing due to the growth of cloud computing and digital transformation initiatives across various industries, since they offer vital services including integration, support, and consulting. Businesses must look for VARs in order to obtain a technology advantage and boost operational efficiency due to the competitive marketplace.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL VALUE-ADDED RESELLERS (VARS) SOFTWARE INDUSTRY
The market for VAR software is mostly driven by large organizations’ embrace of cloud-based solutions. Cloud solutions are becoming more and more popular among large organizations because of their affordability, scalability, and flexibility, which allow them to effectively manage enormous volumes of data and intricate IT infrastructures. Cloud technologies facilitate worldwide collaboration and remote work, which are crucial in today’s dispersed work contexts. VARs are essential to this shift because they offer knowledge and experience with cloud migration, integration, and continuous support. They support businesses in tailoring cloud solutions to particular use cases, guaranteeing a smooth transition from old to new systems, and upholding strict security and regulatory requirements. Large enterprise IT environments are complicated, requiring specialist assistance and customized solutions, which VARs are well-positioned to provide.
Another important driver propelling the growth of the VARs software market is the increasing number of small and medium-sized businesses (SMBs) implementing cutting-edge software solutions. SMBs are realizing more and more how crucial it is to use technology to enhance customer experiences, streamline processes, and stay competitive. These companies, however, frequently lack the internal knowledge necessary to setup and oversee sophisticated software systems. SMBs may more easily embrace and profit from cutting-edge software solutions when VARs offer the required knowledge and assistance. VARs fuel market growth by enabling SMBs to compete with larger organizations through the provision of scalable and inexpensive solutions. The market for VAR software is developing as a result of SMBs’ tendency toward digital transformation and their increasing reliance on specialist software solutions.
The VARs software sector has undergone a transformation thanks to the emergence of cloud computing and Software-as-a-Service (SaaS) models. Cloud-based solutions are very appealing to companies of all sizes because they provide several benefits, such as lower upfront costs, scalability, and remote access. By adding cloud solutions into their portfolios, VARs have profited from this trend and given their clients the efficiency and flexibility they require in the fast-paced business world of today. In example, SaaS models give companies access to advanced software without requiring hefty infrastructure investments. The move to cloud computing has increased the importance of VARs because they now offer cloud-based solution integration, deployment, and continuing maintenance. The market for VAR software is expanding due to the growing demand for cloud solutions.
One of the main factors propelling the VARs software industry is the need for integration and customized services. Software solutions that may be customized to a business’s unique workflows and connected with current systems are frequently needed. These services are best provided by VARs, who also offer seamless interaction with other enterprise apps and bespoke software setups. The ability to customize solutions to specific business requirements and guarantee compatibility with current systems improves VARs’ overall value proposition. For companies with complicated IT environments, where off-the-shelf software solutions might not work well, customization and integration services are especially crucial. VARs help companies maximize their software investments and boost operational effectiveness by attending to these needs. The market for VAR software is growing due to the rising need for tailored software solutions and seamless integration.
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VALUE-ADDED RESELLERS (VARS) SOFTWARE MARKET SHARE
Because of its technological leadership and mature market, North America—especially the United States—represents a large portion of the VARs software market. The supremacy of the region can be attributed to its strong IT infrastructure, high adoption rates of cutting-edge technology, and a large presence of top software providers. Specialized software and VAR services are in high demand since North American businesses are quick to adopt novel solutions in order to remain competitive. The region’s emphasis on digital transformation and large investments in cybersecurity, cloud computing, and data analytics are driving the market for VAR software. Additionally, the regulatory landscape in industries like banking and healthcare demands tailored software solutions in order to maintain compliance, which increases the demand for VAR services.
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Key Companies:
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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