Mitsubishi Logisnext Asia Pacific Pte. Ltd. (MLAP), a group company of Mitsubishi Logisnext (ML), and xSQUARE, a Singapore-based intelligent warehousing solutions company, have entered a partnership. Primarily, their objective is to meet the growing demand for intelligent warehousing solutions amid the trend for fourth industrial revolution.
Ultimately, MLAP and xSQUARE consider the collaboration reflective of the increasing need for warehouse automation. Accordingly, citing a recent study of Acumen Research and Consulting, global warehouse automation market will reach US$64 billion in 2030. This represents compound annual growth rate of 14.8 percent from 2022 to 2030.
In addition, warehouse operators globally are turning to newly developed material handling and automation technologies. Hence, the objective is to solve their productivity challenges in the face of intensifying competition.
MLAP and xSQUARE will collaborate to provide businesses with a solution to overcome labor shortages while increasing warehouse productivity and operational efficiency. First, is to develop a new line of Automated Guided Vehicle (AGV) based on Logisnext’s brands of forklifts. Next, is to distribute xSQUARE’s intelligent warehousing solutions through MLAP’s distribution network in Asia, Oceania, and South Africa.
The solution is implementable across all types of warehouses, factories, and dynamic environments, supporting daily operations. Hence, a seamless manner and making safety an integral part of the logistics value chain.
xSQUARE’s intelligent warehousing solutions enable warehouse operators to overcome automation fragmentation. Moreover, they can achieve full interoperability – all while dealing with high volumes of goods movement.
Yasuo Kubota, Managing Director of Mitsubishi Logisnext Asia Pacific, said, “We believe that our partnership with xSQUARE will help strengthen our ability to expand the product and service offerings in the material handling equipment industry. This collaboration will also enable us to be a complete solutions provider in this domain.”
Meanwhile, Jens Bohnwagner, CEO of xSQUARE, said the company’s intelligent warehouse solutions deliver benefits that impact not just companies in the industry but also their customers and environment. Bohnwagner said the numerous successful deployments in Singapore with multinational corporations and small and medium-sized enterprises have paved the way for their global expansion.
In addition, Bohnwagner said, “Our shared vision with MLAP is to become market leaders that will push the boundaries of innovation and transform the warehouse automation industry with solutions powered by intelligent systems and pioneering technology.”
Going forward, the two companies intend to roll out the solution in the Asia Pacific market according to the partnership agreement.