Warehouse Automation Prognosis
While revenue for the global warehouse automation market will likely decrease in 2020, order intake will grow significantly, according to Interact Analysis' forecast. Other predictions in the report show:
- Significant market growth in 2021 as project completion dates push from 2020 to 2021.
- Compound annual growth rate will increase by 11.9% in 2019-2024.
- The market will not come into equilibrium until 2023.
- Orders increased by $2.5 billion in 2020 and are forecast to grow by larger increments in coming years.
- Sectors such as apparel, which saw demand for warehouse automation equipment stall in 2020, will see demand increase as they recover.
- At 20.6%, the 2019-2024 compound annual growth rate of order intake for groceries exceeds other sectors.
- Year-on-year sales of automated equipment to the sector will increase by as much as 28%.
Warehouse Automation Soars
- The top five providers based on 2019 revenue are Dematic, Honeywell Intelligrated, SSI Schaefer, Daifuku, and Knapp AG.
- Dematic's and Honeywell's order intake for Q2 in 2020 has seen a dramatic increase—more than any other quarter to date.
- Honeywell's record high order intake of $1.2 billion was up 300% compared to Q2 in 2019.
- Dematic's order intake is up 100%.