Warehouse Automation Investment Remains Resilient, UBS Survey Finds

Despite macro uncertainties, planned spending on warehouse automation remains robust, according to the UBS Evidence Lab Global Warehouse Automation Survey. While near‑term growth forecasts softened slightly, structural drivers—like labor shortages and advancing robotics—continue fueling capex plans.

1. Investment Intentions & Growth Outlook

(long‑tail keyword: warehouse automation spending forecasts 2025)

• 67% of respondents intend to increase automation spending.

• 12‑month capex growth forecast: 5.4%, down from 5.9% in 2022.

• 3‑year CAGR steady at 4.2%.

• Weighted by capex size, realized growth last year hit 10.7%, reflecting heavy investment by larger operators.

2. Regional Highlights

(short‑tail keyword: Europe warehouse automation capex)

• Europe leads with a 62% net capex increase, up from 38% in 2022, outpacing overall Eurozone capex expectations.

• Other regions show stable intentions but less pronounced acceleration.

3. Key Investment Drivers

(long‑tail keyword: drivers of warehouse automation 2025)

• Technological progress: cited by 74% (vs. 67%).

• Labor‑cost inflation: 51% (vs. 42%).

• Insufficient handling capacity: 31%.

These secular trends underpin a resilient capex environment, even as short‑term growth expectations moderate.

4. Robotics & AI Adoption Trends

(long‑tail keyword: warehouse robotics adoption rates 2025)

• Mobile robots: 39% currently use them, 52% planning implementation.

• Lights‑out warehouses: 14% operational, 38% planning.

• Humanoid robots: 13% plan to deploy, 51% testing or planning tests; average unit cost $67,000.

• AI applications: expanding in layout optimization, demand forecasting, and real‑time tracking.

5. Vendor Landscape & UBS Ratings

(short‑tail keyword: top warehouse automation vendors 2025)
Respondents rank Toyota Industries, KION, and Swisslog as top AI‑deployment partners. Interest in cube storage (AutoStore, Ocado) rose from 35% to 45%, though still below market share expectations.

UBS maintains Buy on KION, Daifuku, Kardex, Zebra, and Cognex (CGNX), and Neutral on Toyota Industries, Ocado, Interroll, and Symbotic.

Track these vendors' financial health and rating changes via the Company Rating & Information API, which aggregates DCF, ratios, and intrinsic‑value metrics.

6. Profitability & Financial Ratios

(long‑tail keyword: warehouse automation profitability metrics)
As automation spend scales, margin expansion and return on invested capital become critical. Monitor trailing‑12‑month gross and operating margins, ROIC, and leverage for key vendors through the Ratios TTM Statement Analysis API, updating your dashboards with minimal effort.

7. Tactical Takeaways & Call to Action

1. Capex Outlook: 5.4% growth signals continued resilience—consider overweighting leading integrators in Europe.

2. Robotics Momentum: Mobile and humanoid robotics are early‑stage—track deployment rates as catalysts for vendor reratings.

3. AI Differentiation: Vendors with strong AI offerings (Toyota, Swisslog) may warrant premium multiples.

4. Balance Sheet Checks: Use Key Metrics TTM and Company Rating APIs to confirm robust cash flows and low leverage before allocating.

Embed these API‑driven insights in your models to stay ahead of evolving warehouse automation trends—and capture opportunities as the sector scales its next wave of innovation.