Showing posts with label South Korea Warehouse Automation Market. Show all posts
Showing posts with label South Korea Warehouse Automation Market. Show all posts

Tuesday, August 8, 2023

4 Catalyst to growth in South Korea Warehouse Automation Market: Ken Research

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South Korea's warehouse automation market is booming, driven by e-commerce growth, demand for efficient logistics, labor shortages, and aging population. This article explores the key catalysts behind its rapid growth.

Storyline

  • E-Commerce Surge: South Korea's e-commerce market booms, ranking 6th globally with sales surpassing USD 180 Bn in 2022.
  • Logistics Demands Soar: Increasing online sales and same-day delivery expectations drive the urgent need for automated warehouses to handle rising logistics demands efficiently.
  • Labor Shortages Spur Automation: With an aging population and labor scarcity, South Korea turns to automation solutions to overcome labor shortages and scale operations.
  • Embracing Digitalization: South Korea embraces advanced warehousing techniques like ASRS and digitalization for accurate tracking, forecasting, and streamlined stock management.

Introduction

South Korea's e-commerce industry has grown exponentially, making it the sixth largest market globally with nearly 210 trillion South Korean won in sales in 2022. Fueled by COVID-19, online shopping has surged, necessitating efficient warehousing and logistics solutions. To meet the demand for large warehouses and same-day delivery, companies are turning to automation technologies to streamline operations and address labor shortages. This article delves into South Korea's evolving e-commerce landscape, the emphasis on digitalization, and the growing need for automation in warehousing and delivery services.

1. E-Commerce Growth: E-commerce sales in South Korea amounted to almost 210 trillion South Korean won in 2022.

South Korea Warehouse Automation Market

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Online shopping transaction volume in South Korea from 2010 to 2022(in trillion Korean won)

  • Hence, companies are continuously moving towards automating their warehouses in order to fulfill high volume of order efficiently with minimum possible errors.
  • This is rapidly generating need for large warehouse capacity with proper automation to tackle increasing logistics demands with increasing same day delivery demands.
  • The value of e-commerce sales in South Korea amounted to almost 210 trillion South Korean won in 2022. The popularity of online shopping via different e-commerce channels has continuously grown over the last years. This was especially true in the last year due to the effects of COVID-19, as the South Korean e-commerce market experienced an increase.
  • South Korea is the 6th largest market for e-commerce

2. As labor shortage rises South Korea looks to foreign workers

South Korea Warehouse Automation Market

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Shortage rate of the data experts in South Korea in 2021, by profession

  • General merchandise, Retail, E-commerce etc. companies are readily adopting automation technologies to grow and expand their business in line with changing business environment.
  • This will allow these companies to scale their business independently of issues including expensive labor and labor shortage.
  • Further, labor shortage is expected in coming years due to fast ageing population of the country and low fertility rate.
  • This leads to accelerate the demand for automation solutions to offset insufficient warehousing labor.

3. Rise in demand for Same-day Delivery

Online food delivery is a growing market worldwide, with an estimated number of around 1.96 Bn people using such services in 2021. In South Korea, around 31.5% of households ordered food delivery that same year. This was often done for reasons of convenience and the possibility of limiting contact with others. Mobile and online ordering was the method of choice for around 47 percent of consumers in South Korea.

Increasing customers demand for same-day delivery mainly driven by pandemic which have led to manifold increase in online sales and bulk orders with same-day delivery preference such as grocery shopping. This will influence the companies to automate their warehouses to fulfill the rise in demand.

4. Increasing Focus on Digitalization

  • The increasing digitization is paving way for automated warehousing technologies, ASRS and several other advanced techniques of warehousing in the country.
  • Automation allows for more accurate tracking, forecasting and stock replenishment.

According to Ken Research: South Korea's warehouse automation market is thriving due to e-commerce growth, same-day delivery demand, labor shortages, and digitalization. Companies are investing in automated warehousing technologies to scale operations, overcome labor challenges, and achieve efficiency, accuracy, and cost-effectiveness. Embracing automation positions them for success in South Korea's evolving market.

Thursday, August 3, 2023

Mobile Robots Revolutionize Picking Accuracy and Productivity in warehousing automation: Ken Research

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Automation is the use of machinery, software, and control systems to increase operational efficiency. It usually refers to operations that must be carried out at a warehouse or distribution centre and call for little human involvement.

Storyline

  • Mujin and Geek+: Revolutionizing Order Fulfilment with Collaborative Robots:

Mujin and Geek+ partner to showcase an advanced order fulfilment solution at Manifest, integrating pick and place robots with mobile robots. This collaboration enhances efficiency and value for end users.

  • Ocado Retail's Automated Warehouse Sets Productivity Standards:

Ocado Retail's fully automated warehouse in Andover demonstrates the power of mobile robot technology, processing millions of items and thousands of orders weekly. Automation and mobile robots are revolutionizing industries globally.

  • Rise of Automation: Enhancing Warehousing Efficiency:

Collaborative mobile robots optimize picking accuracy and productivity, transforming the warehousing industry. Streamlined order fulfilment and seamless integration with automated systems redefine efficiency in warehouses.

Introduction

A warehouse is the place, building or industrial plant where goods are manufactured, handled and/or stored before distribution, use or subsequent sale. Each warehouse is different in terms of its structure, capacity or space, just as the activities that take place in it.

Whatever its characteristics, the fact is that the warehouse innovation ensures greater efficiency in production and, therefore, improves profitability.
Moreover, the concepts ‘warehouse innovation’ and ‘warehouse automation’ have a direct relationship with mobile robotics since, from the beginning, the development of this technology has been linked to the improvement of logistics processes in warehouses and factories.

1. Mujin, a leading provider of cutting-edge robotics technology

South Korea Warehouse Automation Market

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Mujin, a leading provider of cutting-edge robotics technology will showcase its innovative order fulfilment solutions at Manifest, a premier event focused on supply chain and logistics innovation. Mujin has teamed up with Geek+, a global leader in mobile robotics for logistics, to demonstrate a total order fulfilment solution featuring pick and place robots seamlessly integrating with mobile robots. This solution automates the process of creating mixed orders from single-SKU containers, delivering increased value for end users.

2. The new fully automated warehouse from Ocado Retail has shown how mobile robot technology increase productivity in warehouses

South Korea Logistics Automation

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Automation technology has come a long way. Ocado Retail’s new fully automated warehouse has demonstrated the potential of several new technologies—as seen by a big YouTube audience.

They call it “the hive,” or “the grid.” Or sometimes just: “the machine.” It’s a huge structure that fills a warehouse on the outskirts of Andover, a small and quiet town in southeast England. The hive-grid-machine is the creation of Ocado, a British online-only supermarket that’s made a name for itself in recent years designing highly automated warehouses and selling the tech to other grocery chains. When fully up and running, Ocado’s Andover operation will be its most advanced yet, processing 3.5 million items or around 65,000 orders every week. It’s also a perfect example of the wave of automation slowly hitting countries around the world. The tasks being undertaken by Ocado’s bots are so basic they’re best described by simple verbs — “lifting,” “moving,” “sorting” — and that means they exist in various forms in a range of industries. And when the price is right, someone will want a machine to do those jobs, too.

Conclusion

In conclusion, collaborative mobile robots are revolutionizing the warehousing industry by enhancing picking accuracy and productivity. The integration of mobile robotics with automation tools allows for seamless order fulfilment and increased value for end users. Industry leaders like Mujin and Ocado Retail have showcased the potential of mobile robot technology in improving warehouse operations. As automation technology continues to advance, the adoption of collaborative mobile robots will play a crucial role in optimizing logistics processes and driving efficiency in the warehousing industry.

Major Players Mentioned in the Report:

  • Daifuku Korea Co Ltd
  • SFA Corporation
  • Dematic (Kion Group)
  • SSI SCHAEFER Systems International Limited
  • Hyundai Movex Co. Ltd
  • SM Core Co Ltd
  • Geekplus Technology Co.
  • HAI robotics and LG CNS
  • AutoStore System Ltd
  • Hik Robotics

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

  • E-commerce Companies
  • Third-Party Logistic Providers
  • Potential Market Entrants
  • Freight Forwarding Companies
  • Warehousing Companies
  • Cold Storage Companies
  • Industry Associations
  • Consulting Agencies
  • Government Bodies & Regulating Authorities

Time Period Captured in the Report:

  • Historical Period: 2016-2022
  • Base Year: 2022
  • Forecast Period: 2023-2027

For More Insights On Market Intelligence, Refer To The Link Below: –

South Korea Warehouse Automation Market

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