Bin Picking System Market

Bin Picking System Market Growth Outlook

The global bin picking system market is anticipated to be valued at US$ 1.7 Billion in 2023 and it is anticipated to grow at a CAGR of 12.5% to reach US$ 5.6 Billion by the end of 2033.

Robotics and computer vision are the two primary technologies used in the applications of bin picking system. The introduction of these technologies makes it possible to pick and place various products that are arranged in structured or scattered manner.

Report Attributes	Details
Estimated Market Value (2023E)	US$ 1.7 Billion
Forecasted Market Value (2033F)	US$ 5.6 Billion
Global Market Growth Rate (2023-2033)	~ 12.5 % CAGR
North America Market Share (2023)	~ 21.4 %
East Asia Market Growth Rate (2023-2033)	~ 16.7 % CAGR
Europe Market Growth Rate (2023-2033)	~ 11.7 % CAGR
East Asia Market Share (2023)	~ 29.1 %
Key Companies Profiled	Apera AI Dobot Liebherr Mech-Mind Robotics Photoneo

Historic and Future Path for Bin picking System Market

A bin picking system is a technology in which a robot is incorporated with a 3D, camera, optical sensor (3D or 2D) and an end effector (magnet gripper, and others) to remove parts from a container full of disorganized, irregularly shaped pieces.

Robotic arm receives command based on the analysis done by the computer vision system and the vision system examine the target area and recognize the position of the pieces.

• Growth Factors for Short Term (2023-2026): Continuous growth in automotive industry will lead to higher demand for various automation technologies which will lead to growth in short term for bin picking systems.
• Factors for Medium-Term Growth (2026-2029): North America and Asia Pacific is expected to have higher demand for bin picking system pertaining to rising demand for automation in logistics and warehousing.
• Long Term Growth Opportunities (2029-2033): The fourth Industrial revolution and smart automation will lead the market to grow at a rapid pace over a long term.

During the 2018-2022 historical period, the global bin picking system market registered a CAGR of 9.1%, according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 12.5% CAGR between 2023 and 2033.

Market share analysis of bin picking system based on application and region is provided in a nutshell in the above image. Under the application segment, the automotive sub-segment dominates with a 24.7% market share in 2023.

“Rising need for automation in current picking environment in industries”

Manufacturers in the picking-bin system market provide variety of design options for practical handling. In the near future, it is anticipated that the market for industrial automation solutions would increase demand for bin picking system.

Further, the bin picking system handles heavy materials and is efficient in repetitive work. They are widely used in logistics and warehousing and can be implemented in all types of industries such as automotive, pharmacy, and among others.

In addition, bin picking system with 3D technology / vision systems automatically picks pieces that are placed randomly and that can have complex morphologies. Few such examples are pieces with different textures, complex geometries or made of different materials or putted in a scattered way.

It is anticipated that market will grow at CAGR of 12.5% during the forecast period.

“High Initial Investment Pose a Significant Threat to the Market Growth”

Making any type of robotics require a heavy capital investment in setting up of manufacturing facility. Also on end of users / industries deploying robotics in their automation processes, involves a huge cost involved affecting the overall profitability for a short term period. Also the need for skilled labour and proper training in using these automation processes is still lacking.

Further, for the development of bin picking system, multiple sensors, computer vision, robotic arm and others are required which are quite expensive. Hence, availability of these technologies is quite challenging. In addition, technical failures lead to slow down the process and as a result it may take times to reinstall the process.

Country-wise Insights

Why US is fastest growing market for Bin Picking Systems?

In the approaching years, the market for bin picking system is anticipated to grow more rapidly due to consumer need for greater accuracy, better component recognition and faster handling.

Additionally, the US has a greater opportunity to expand its business across the region as the aerospace industry growing rapidly in North America, especially in the US. Further, bin picking system applies to various field such as factory automation, warehouse automation, and provides lower unit labor cost.

It is estimated that growing technology boost market growth in the upcoming future. Further, the tech-driven industry in the US significantly impacts the growth of the market.

US market for Bin Picking System is expected to grow at a CAGR of 11.1% during the forecast period 2023-33.

What Role does the Germany Play in the Expansion of the Bin Picking System Market?

The bin picking systems greatly increase the speed and effectiveness of work cells by automating the bin picking process and reducing the necessity for human workers.

Germany is the hub for automobile industry. Automotive industry is the Highest demand creator for bin picking systems. Picking of various components and putting that in place to be used in assembly line for making cars / other automobiles is facilitated by Bin Picking systems. Furthermore, German companies such as Liebherr offer modern manufacturing and reliable solution. It attracts the other market player to incorporate bin picking systems for effective results.

Germany market for Bin Picking System is projected to grow at a CAGR of 12.3% during the forecast period 2022-2033.

Category-wise Insights

Why automotive Industry Increases the Demand for Bin Picking System?

The bin picking systems are frequently used by automobile companies for management of various automobile components to be used in assembly line while making automobiles. Auto racking and bin picking are the most common processes managed by bin picking systems.

This ensures safety in execution of processes with heavy materials and also reduces the overall costs. With focus on fulfilling the demand for stable process systems and higher accuracy in processes, many automobile companies are deploying bin picking systems.

Demand for bin picking systems from automotive sector is expected to grow from US$ 503.8 Mn in 2023 to US$ 1,687.0 Mn in 2033.

Why Semi-Structured Bin Picking System Gaining Traction?

Semi structured bin picking system involves using a 2D system for identifying products and picking & placing them. It involves some predictions which helps in imaging the parts and picking them easily. Most of the time, 2D vision may be used for a semi-structured bin picking system. Small and medium businesses can now implement semi-structured bin picking more easily and affordably.

It is estimated that the market for semi-structured bin picking systems will grow at a CAGR of 13.0% during the projected period and will reach a valuation of USD 1,884.5 Million in 2033.

Market Titans Key Strategies

Prominent bin picking system manufacturers are Apera AI, Dobot, Liebherr, Mech-Mind Robotics, Photoneo, PICK IT 3D, SCAPE Bin Picking, Zivid, Solomon, Teqram, Universal Robots, VISIO NERF, ZIVID, and other players.

Manufacturers of bin picking systems are focusing on entering the emerging markets specially Asian countries where they are targeting the industries with their innovative and customized product offerings to earn higher profit margins. Hence, collaborating with and acquiring the other industry players are preferred ongoing strategies deployed by market titans who are willing to expand their business.

Fact.MR has provided detailed information about the price points of key manufacturers of bin picking system positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Bin Picking System Industry Research

• By Process Type :

  • Structured Bin Picking
  • Semi-Structured Bin Picking
  • Random Bin Picking

• By Technology :

  • Fixed Automation
  • 2D Vision Systems / Solutions
  • 3D Vision systems / Solutions

• By Working Distance :

  • 0-1000 mm
  • 1001-2000 mm
  • 2000 mm and above

• By Application :

  • Automotive
  • Aerospace & Defense
  • Electronics & Semiconductor
  • Healthcare
  • Logistics & Warehousing
  • Industrial Manufacturing
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA