Global logistics robots market report forecasts market growth to reach 17.82bil USD by 2028
A report released by Fortune Business Insights has predicted a 16.4% compound annual growth rate from 2021 to 2028. The increase in eCommerce and the subsequent strain it put on the global supply chain during the COVID-19 pandemic highlighted the growing need for automation. More and more companies across multiple sectors are adopting innovative technologies to increase their competitive edge in the market. As the push for automation increases, the robotics market will flourish.
“The rising emphasis on modernization programs to improve existing technologies, especially in South Korea and China would boost growth. North America, on the other hand, is anticipated to remain at the forefront owing to the increasing investments in implementing automated warehouse systems, smart factories, and industry 4.0.”
New warehouse rules in Southern California aim to reduce air pollution
According to the Los Angeles Times, the board of the South Coast Air Quality Management District will be deciding on Friday whether or not to approve new regulatory measures in an effort to reduce air pollution by the area’s numerous warehouses. Around 3,000 warehouses in the region would be affected.
“The industry, which handles many of the products flowing through the nation’s largest port complex and gets them into stores and onto people’s doorsteps, has only gotten busier as pandemic-fueled online shopping pushes record amounts of cargo through the region.”
Supply chains struggling to fulfill backorders
According to Supply Chain Dive manufacturers are struggling to build up their inventory enough to meet the continuous rise in demand for their products. Companies like Clorox and 3M have been facing a constant challenge to increase their supply abilities to match market demand. As orders continue to backlog companies will have to find ways to work with suppliers to increase their inventory and speed up fulfillment.
“Manufacturing inventories have been fairly volatile over the last few months. Inventory levels contracted in February, grew in March and went back to contracting in April, according to the Institute for Supply Management’s manufacturing report.”