Dublin, April 12, 2023 (GLOBE NEWSWIRE) -- The "Logistics Automation Market by Component, Function, Logistics Type (Procurement/Inbound Logistics, Sales/Outbound Logistics) Software Application (Inventory Management, Order Management), Vertical and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global logistics automation market size is projected to grow from USD 32.7 billion in 2023 to USD 51.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period.
The logistics industry is benefiting from advances in technology, such as robotics, artificial intelligence, and the Internet of Things (IoT) in logistics automation market.
Based on Function, the inventory and storage management segment is expected to hold a larger market share during the forecast period
The inventory and storage management segment is projected to account for larger market share in 2023 to 2028. Inventory and storage management includes tasks, such as material handling, order processing, demand forecasting, and packaging, in addition to inventory control, plant and warehouse site selection, distribution management, and salvage and scrap disposal. Companies customize warehouse and storage management solutions according to their specific requirements.
These solutions are aimed at improving safety and security and optimizing operations with real-time global positioning system (GPS) tracking. Thus, warehouse operating companies are adopting warehouse and storage management solutions to manage inventory by streamlining storage and distribution operations.
Based on Organization size, the SMEs segment to grow at the highest CAGR during the forecast period
SMEs are focused on the deployment of logistics automation solutions to enhance competitiveness and reduce operating costs. Even though the high cost involved in automating logistics processes, the adoption of logistics automation solutions offers long-term RoI. However, SMEs are unable to automate logistics processes fully. With advancements in automation technology and intense competition among vendors, the cost of automating warehouses is declining. This, in turn, will enable SMEs to adopt automation solutions and services in the near opportunity. Furthermore, the adoption of cloud-based logistics automation software is expected to rise in SMEs as they require only required functions and features for small-scale warehouse operations.
Asia Pacific (APAC) region to record the highest CAGR in the logistics automation market
Asia Pacific is expected to grow at the highest CAGR during the forecast period. APAC is changing dynamically with respect to the adoption of new technologies across various sectors, especially in China, Japan and India. These countries have constantly supported and promoted industrial and technological growth. Moreover, the companies are significantly investing in manufacturing, automobile, retail, and healthcare industries in the region. Further, the expansion of the transportation and logistics industry and the increase in trade agreements are key factors projected to drive the growth of the logistics automation market in APAC.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them with information on the closest approximations of the revenue numbers for the overall logistics automation market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Market Dynamics
Drivers
- Increasing Adoption of Robots to Improve Logistics Operations
- Rise in E-commerce Activities
- Digital Transformation in Logistics Industry
- Emergence of IoT
- Need for Occupational Safety
Restraints
- Lack of Uniform Governance Standards
- High Capital Investment
Opportunities
- Implementation of Autonomous Vehicles and Drones
- Growing Adoption of Industry 4.0
Challenges
- Lack of Skilled Professionals
- Security and Privacy Concerns
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 304 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $32.7 Billion |
| Forecasted Market Value (USD) by 2028 | $51.2 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Logistics Automation Market, by Component
6.1 Introduction
6.2 Hardware
6.2.2 Autonomous Mobile Robots (AMRS)
6.2.3 Automated Guided Vehicles (AGVS)
6.2.4 Automated Storage and Retrieval Systems (As/Rs)
6.2.5 Automated Sorting and Conveyor Systems
6.2.6 De-Palletizing/Palletizing Systems
6.2.7 Automatic Identification and Data Collection (Aidc)
6.3 Software
6.3.1 Market (By Software) Drivers
6.3.2 Warehouse Management System (Wms)
6.3.3 Transportation Management System (Tms)
6.4 Services
6.4.2 Consulting Services
6.4.3 Deployment and Integration Services
6.4.4 Support and Maintenance Services
7 Logistics Automation Market, by Function
7.1 Introduction
7.2 Inventory and Storage Management
7.3 Transportation Logistics
8 Logistics Automation Market, by Logistics Type
8.1 Introduction
8.2 Sales Logistics
8.3 Production Logistics
8.4 Recovery Logistics
8.5 Procurement Logistics
9 Logistics Automation Market, by Organization Size
9.1 Introduction
9.2 Small and Medium-Sized Enterprises (Smes)
9.3 Large Enterprises
10 Logistics Automation Market, by Vertical
10.1 Introduction
10.2 Retail & Ecommerce
10.3 Manufacturing
10.4 Healthcare & Pharmaceuticals
10.5 Automotive
10.6 Food & Beverage
10.7 Aerospace & Defense
10.8 Chemicals
10.9 Other Verticals
11 Logistics Automation Market, by Software Application
11.1 Introduction
11.2 Inventory Management
11.3 Order Management
11.4 Shipping Management
11.5 Labor Management
11.6 Yard Management
11.7 Vendor Management
11.8 Customer Support
11.9 Other Software Applications
12 Logistics Automation Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
- Abb
- Automated Logistics Systems
- Beumer Group
- Blue Yonder
- Daifuku
- Dematic
- Eyesee (Hardis Group)
- Falcon Autotech
- Greyorange
- Honeywell Intelligrated
- Ibm
- Jr Automation
- Jungheinrich
- Knapp
- Korber
- Locus Robotics
- Logistically
- Logiwa
- Manhattan Associates
- Mantis
- Murata Machinery
- O Solutions
- Oracle
- Rossum
- Sap
- Savoye
- Sbs Toshiba Logistics
- Ssi Schaefer
- Swisslog
- Symbotic
- System Logistics
- Tgw Logistics Group
- Zebra Technologies
For more information about this report visit https://www.researchandmarkets.com/r/s2ovzy
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