Quote a Very Large Number
Here at STIQ we are often confused by the very large numbers banded around for market sizes, especially for the warehouse automation market size.
Recently we noted an interesting linkage of how such numbers can be used in a number of interesting ways.
For example, FedEx published an article on Jan 26th, 2022 sourcing a market size figure of $51bn from an online article by McKinsey.
Source: FedEx, Jan 26, 2022 (link)
McKinsey used the same $51bn figure on their website, properly sourced (not linked though) pointing to an article published in the online magazine Robotics And Automation News.
Source: McKinsey, Dec 27, 2021 (link)
The article in Robotics And Automation News source their number to a publication by ABI Research.
Source: Roboticsandautomationnews.com, Aug 19, 2021 (link)
ABI Research is the original source of the $51bn figure.
Source: ABI Research, Aug 18, 2021 (link)
So, the point is simply that whilst the figure has not changed, it may be difficult to see the forest for all the trees when these large numbers are banded around.
$51bn... what does it actually mean? Does it include WMS? Other software, any AR, etc?
The original ABI Research article states:
"According to ABI Research, a global tech market advisory firm, worldwide commercial robot revenue in warehouses will have a Compounded Annual Growth Rate (CAGR) of over 23% from 2021 to 2030 and exceed US$51 billion by 2030."
So, ABI Research clearly state the $51bn figure is related to "robot revenue in warehouses".
But what is a "robot" and how does ABI Research define this?
Later in the same article there are references to "Pick by Vision" such as AR tools, etc. which may or may not be defined as robots as well as RPA type robots.
Well, whatever the case, big numbers make headlines.
If you want to know more about AGV & AMRs - check out STIQs reports:
- G2P Solutions (automation for general merchandise online order fulfilment)
- AGV & AMR Robotics (automation for moving goods, pallets, etc. in warehouses and factories)
- eGrocery Infrastructure (automation for online grocery order fulfilment)