The smart conveyance technology market is enjoying strong growth and is expected to triple in value to more than $1 billion by 2027.
Interact Analysis projects the Chinese warehouse automation market will show strong growth over the next five years as companies look to optimize efficiency.
After a downturn in 2023, warehouse construction is expected to rebound in 2024 and beyond according to Interact Analysis research.
Warehouse construction declined in North America and Europe in 2023 by 25%, but the slowdown is expected to be short-lived according to Interact Analysis.
Warehouses added to the global building stock in 2023 is down 35% compared with 2022 as companies are focusing more on automating current assets rather than building new ones.
New research shows the warehouse automation software market was valued at $2.4 billion in 2021 and will grow with a CAGR of 16% through 2027.
After a slight decline in 2022, the warehouse automation industry is expected to return to a state of healthy growth in the mid- to long-term.
After a 2-year period of contraction, industrial robot shipments saw a year-on-year (YoY) increase of over 30% in 2021, according to new research published by Interact Analysis.
Mobile hydraulics grew from 2019 to 2021 thanks to a boom in material handling and increased demand for construction equipment.
Collaborative robot growth remains strong worldwide and China will be shipping more than 50% of the robots by 2023.