Global warehouse robotics market to hit bln by 2023: report

Updated 2018-05-18 15:03:06 Xinhua

The global warehouse robotics market is expected to grow by 11.6 percent in the next five years to reach 5.186 billion U.S. dollars by 2023, a market research agency said Thursday.

In a report on worldwide warehouse robotics market opportunities and forecast for upcoming five years, market analysis agency Allied Market Research (AMR) said e-commerce as an industry vertical is expected to dominate the global warehouse robotics market from 2017 to 2023.

Warehouse robotics are designed to perform such functions as pick-placing, packaging, transportation, packaging, and pelletizing.

North America dominated the global warehouse robotics market with a 33-percent share in 2016, the AMR said.

It attributed the growth of the global warehouse robotics market to an increasing demand for automation in e-commerce.

The warehouse robotics totalled 2.442 billion dollars in 2016, according to the AMR.

It noted that the increasing deployment of robots in warehouse packaging, pelletizing and transportation will boost the growth in the food and beverage industry in the Asia-Pacific and European regions.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58November 19 2018 07:01:42

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16November 19 2018 07:01:42

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18November 19 2018 07:01:42

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords