Piece Picking Robots Market Size (2024 - 2029)

Piece Picking Robots Market Analysis

The Piece Picking Robots Market size is estimated at USD 1.13 billion in 2024, and is expected to reach USD 9.57 billion by 2029, at a CAGR of 53.31% during the forecast period (2024-2029).

• Investment in automation is propelling the growth of piece-picking robots, particularly in sectors like e-commerce, logistics, and manufacturing. The push for enhanced efficiency, precision, scalability, and cost-effectiveness is driving this automation trend. Labor shortages in warehousing and logistics, exacerbated by the COVID-19 pandemic and surging e-commerce demands, have spurred heightened investments in automation. As a result, piece-picking robots are increasingly taking on labor-intensive roles, such as order picking, thereby diminishing the reliance on a vast workforce.
• In September 2024, Pickommerce, hailing from Meitar, Israel, clinched funding of USD 3.4 million. The company announced that this capital infusion would accelerate the development, production, and marketing of its flagship, the PickoBot piece-picking robot. Furthermore, Pickommerce underscored the escalating trend of automation in today's logistics hubs, noting that robots are now chiefly tasked with duties like crate collection and package unloading.
• As wages climb in various regions, businesses are increasingly leaning on robots to trim operational expenses. While the upfront investment in piece-picking robots and automation tech can be steep, the promise of long-term labor savings and the benefit of continuous, fatigue-free operation make it enticing. Moreover, Bank of America projects that by 2025, a significant 45% of all manufacturing will be dominated by robotics. In alignment with this trajectory, industry giants such as Raymond Limited, a prominent Indian textile firm, and Foxconn Technology Group, a key Chinese supplier for tech behemoths like Samsung, are poised to substitute 10,000 and 60,000 workers, respectively, with automation in their production facilities.
• Piece-picking robots demand a hefty upfront investment, presenting a notable hurdle to market growth. This investment is further magnified by the necessity for supportive infrastructure. Moreover, technical constraints of these robots—such as their slower speeds, difficulties gripping unconventional items, and concerns about reliability—hinder market expansion. 
• Like other advanced technologies, piece-picking robots need regular maintenance, which can lead to operational downtime. To ensure these robots fit seamlessly into high-throughput industries, it's crucial to minimize such interruptions. Additionally, given the unique workflows and product types across various industries, there's a strong demand for customization. This need complicates the deployment of piece-picking solutions, increasing both time and costs.
• The ongoing Ukraine conflict has disrupted the supply chain for raw materials and components vital to manufacturing piece picking robots. Such disruptions can result in shortages, longer lead times, and increased costs, all of which directly influence the market. In response, companies might turn to alternative suppliers or bolster local production, potentially reshaping market dynamics and pricing. The persistent Russia-Ukraine tensions, coupled with China's "Zero Tolerance Policy," have spurred a notable rise in global inflation. This inflation surge has reverberated across various sectors, notably the electronic components and industrial automation industries, driving up component prices and stunting the studied market's growth. Furthermore, elevated inflation and interest rates have curtailed consumer spending, further constraining market expansion.

Piece Picking Robots Industry Segmentation

Piece-picking robots are competent in helping workers by eliminating the necessity for labor to be devoted to repetitive and critical tasks. These software-driven, hardware-enabled solutions handle the core task of picking and placing individual items as part of a wide range of workflows and processes. Piece-picking robots improve performance and efficiency in e-commerce order fulfillment and intralogistics.

The piece picking robots market is segmented by type of robot (collaborative, mobile and others), by end-user application (pharmaceutical, retail/warehousing/distribution centers/logistics centers, other end user applications), and by geography (North America, Europe, Asia Pacific, Rest of the World). The report offers market forecasts and size in value (USD) for all the above segments.