However, logistics robots recorded an increase in demand across healthcare, e-commerce and automotive sectors due to efforts inclined toward economic revival. The COVID-19 pandemic exacerbated these challenges owing to associated international travel restrictions and other protective measures. Post the outbreak of COVID -19 pandemic across major economies around the globe, net revenues of the key players declined and witnessed subsequent reduction in their profit margins. Owing to the slowdown in the manufacturing sector globally in 2019, there was tension amongst the dominant countries, and the market is anticipated to drop owing to the disruption in economy along with supply chain disruption. Lockdown measures imposed owing to pandemic negatively impacted the overall growth potential of the market due to supply restrictions as well as slump in adoption by end-users. The COVID-19 pandemic severely affected the global market. Market Growth Hampered Due to Supply Chain & Manufacturing Disruptions During the Pandemic This machine is responsible for transporting heftiest packages from the idle zone to the picking stations at the right time, eliminating the need of forklifts or pallet trucks to operate these kinds of packages. AMRs use sensors, cameras, artificial intelligence, and machine vision to independently navigate uncontrolled environments and perform a variety of tasks.Įach pick station is equipped with a robotic handling arm to allow operators to move heavy loads. For navigation, AGVs mostly use lane paths, signal paths, or signal beacons. AGVs are commonly used in manufacturing plants, warehouses, distribution centers, and terminals. AGV is a type of effeminate mobile vehicle primarily designed to move the material from one place to another. The three types of logistics robots comprise Automated Guided Vehicles (AGVs), Autonomous Mobile Robots (AMRs), and robot arms. This helps in simplifying the operations and reducing the probability of human errors. The robots are automated machines, which are used in warehouses, storage units, ports and other such places to perform the desired logistics operations. These are flexible in nature and reduce the dependence on human labor. Logistics robots are used in logistics operations. Based on our analysis, the global market had exhibited an average decline of 14.1% in 2020 as compared to 2019. The global COVID-19 pandemic has been unprecedented and staggering, with logistics robots experiencing moderate demand across all regions compared to pre-pandemic levels. The market is projected to grow from USD 7.11 billion in 2022 to USD 21.01 billion by 2029, exhibiting a CAGR of 16.7% during the forecast period. The global logistics robots market size was valued at USD 6.17 billion in 2021.