Wilmington, Delaware, United States, June 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global logistics automation market is projected to flourish at a CAGR of 11.4 % from 2023 to 2031. As per the report published by TMR, a valuation of US$ 115.9 billion is anticipated for the market in 2031. In 2022, the market for logistics automation was valued at US$ 44.6 billion
The increasing use of the internet, increased use of smartphones and rapidly changing consumer behaviour, and increased trend of online shopping drives the demand for logistics automation systems. The demand for logistics automation increases in the e-commerce market as it enables faster and more efficient order processing, inventory management, and shipment tracking.
Increasing research & development activities and innovation in the logistics automation sector and advanced technology to create opportunities for market growth during the forecast period. The rapidly increasing advances in robotics, artificial intelligence, machine learning, and IoT have paved the way for more sophisticated logistics automation solutions.
The increased affordability and accessibility of these technologies have made logistics automation more viable for businesses of all sizes. Increasing the application of logistics automation in many end-use industries to enhance operational efficiency, meet customer expectations, and stay competitive in a rapidly evolving market to boost market growth.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 44.6 Bn | |
| Estimated Value | US$ 115.9 Bn | |
| Growth Rate - CAGR | 11.4% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 156 Pages | |
| Market Segmentation | Offering, Application, End-use Industry | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | ABB Ltd., Beumer Group GmbH & Co. KG, CIGNEX, Daifuku Co. Ltd, Dematic, Hitachi, Ltd. (JR Automation), Honeywell International, Inc., Jungheinrich AG, Kardex Group, Knapp AG, Murata Machinery, Ltd., Oracle Corporation, Seegrid Corporation, Siemens AG, Zebra Technologies Corp. | |
Key Takeaways from the Market Report
- As of 2023, the logistics automation market is forecast to reach US$ 49.5 billion
- Service segment to remain popular during the forecast period
- Based on application, the inventory management segment is expected to account for a significant market share as it helps to manage and track inventory levels.
- Retails segment is expected to generate high revenue during the forecast period.
Logistics Automation Market: Prominent Drivers and Trends
- Increased consumer inclination towards online shopping and demand for the short delivery timeline are creating opportunities for logistics automation market growth.
- Increased labor shortage and increased labor costs and increased automation in transport, storage, retrieval, and data management the demand for logistics automation increases.
- The increasing demand for logistics automation from various companies to reduce lead time and increase operational efficiency to boost the market demand
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Logistics Automation Market: Regional Analysis
- North America is a significant market for logistics automation due to the presence of major players, technological advancements, and the need for efficient supply chain operations. The region has a mature logistics industry and a high adoption rate of automation technologies. The United States and Canada are the key contributors to the market in this region.
- With expanding e-commerce industry, the Asia Pacific region is expected to witness rapid growth in the logistics automation market. The increasing technological advances and adoption of automation technologies in warehouses, distribution centers, and transportation operations are expected to drive the logistics automation market.
- The presence of a large population, in countries like China, India, South Korea, and Japan and growing investments in infrastructure development, and are expected to increase the market demand in the region.
Competitive Landscape
Transparency Market Research has profiled the following players in its global logistics automation market report:
- ABB Ltd.
- Beumer Group GmbH & Co. KG
- CIGNEX
- Daifuku Co. Ltd
- Dematic
- Hitachi, Ltd. (JR Automation)
- Honeywell International, Inc.
- Jungheinrich AG
- Kardex Group
- Knapp AG
- Murata Machinery, Ltd.
- Oracle Corporation
- Seegrid Corporation
- Siemens AG
- Zebra Technologies Corp.
Investment in research & development, product advancement, merger, and acquisition are some of the strategies adopted by leading players. Some of the development in the logistics automation market are as follows-
- Honeywell Intelligrated offers a range of logistics automation solutions, including robotics, conveyor systems, and warehouse management software. They have been focusing on the development of collaborative robots (cobots) that can work alongside human workers to improve productivity and safety in warehouses.
- Dematic specializes in automated material handling and logistics solutions. They have been leveraging technologies such as robotics, artificial intelligence (AI), and machine learning to develop innovative warehouse automation systems. Their solutions include automated guided vehicles (AGVs), robotic picking systems, and intelligent software platforms.
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Logistics Automation Market: Key Segments
Offering
- Hardware
- Robots
- Automated Storage and Retrieval System (ASRS)
- Vehicle Trackers
- Others (RFID Scanners and Readers, etc.)
- Software
- WMS (Warehouse Management System)
- TMS (Transportation Management System)
- Automatic Identification and Data Capture (AIDC)
- Services
- Training and Consulting Services
- Repair and Maintenance Services
- Application
- Loading and Unloading
- Sortation and Storage
- Inventory Management
- Shipment Scheduling and Tracking
- Others (Predictive Analytics, Fleet Management, etc.)
End-use Industry
- Food and Beverage
- FMCG (Fast-moving Consumer Goods)
- Fashion and Apparel
- Healthcare
- Automotive
- Retail
- 3PL
- Consumer Electronics
- Chemical
- Metals and Mining
- Others (Pharmaceutical, Aerospace and Defense, etc.)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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