Pune, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The Logistics Automation Market, as per the SNS Insider report, was valued at USD 30.91 billion in 2022, with a projected growth to reach USD 93.8 billion by 2030. It is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 14.9% during the forecast period from 2023 to 2030.
Market Overview
Logistics automation is a sophisticated integration of technology and processes designed to enhance the overall efficiency of supply chain operations. It encompasses a spectrum of technologies, including artificial intelligence, robotics, data analytics, and advanced software solutions. The primary aim is to reduce manual interventions, mitigate errors, and expedite the flow of goods from the point of origin to the end consumer.
Market Analysis
The exponential progress in robotics and artificial intelligence has unlocked unprecedented possibilities for logistics automation. Automated guided vehicles (AGVs), robotic arms, and machine learning algorithms contribute to the seamless execution of tasks such as inventory management, order fulfillment, and warehouse optimization. These technological advancements not only boost accuracy but also enable logistics systems to adapt dynamically to changing demands. The proliferation of e-commerce has reshaped consumer expectations, necessitating a paradigm shift in logistics strategies. The logistics automation market is witnessing substantial growth due to the surge in online retail activities. Automated warehouses, order-picking systems, and last-mile delivery solutions are becoming indispensable for meeting the demands of a digital consumer base that expects rapid and flawless delivery services. The advent of big data analytics has empowered logistics automation with the capability to derive actionable insights from vast datasets. Predictive analytics, demand forecasting, and real-time monitoring enable logistics providers to make informed decisions, pre-emptively addressing challenges and optimizing resource allocation. The data-driven approach enhances overall supply chain visibility and responsiveness. All these factors to drive higher growth of the market.
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Major Players Listed in this Report are:
- Murata Machinery, Ltd.
- Honeywell International Inc.
- Jungheinrich AG
- Daifuku Co., Ltd.
- SSI Schaefer Group
- Knapp AG
- Mecalux, S.A.
- Kion Group AG
- TGW Logistics Group GmbH
- Beumer Group GmbH & Co. KG
- Dematic Corp & Other Players
Logistics Automation Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 30.91 Bn |
| Market Size by 2030 | US$ 93.8 Bn |
| CAGR | CAGR of 14.9 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Takeaway from Logistics Automation Market Study
- The manufacturing segment, being at the core of production processes, is a natural fit for logistics automation. Manufacturers are recognizing the pivotal role automation plays in streamlining their supply chain operations, from raw material procurement to the final distribution of finished products.
- Large enterprises, with their expansive and intricate supply chain networks, are also at the forefront of adopting logistics automation solutions. The sheer scale and complexity of their operations make automation a strategic imperative.
Recent Developments
- Draper Associates has recently announced a strategic investment in Logic, a company at the forefront of revolutionizing logistics through automation. This investment marks a pivotal moment in the industry, as Draper Associates recognizes the potential of Logic's groundbreaking technologies to reshape the future of supply chain management.
- The Missile Defense Agency (MDA) has awarded a substantial contract worth USD 121 million to L3 Harris Technologies. The contract is dedicated to the construction of a prototype satellite designed to track hypersonic weapons—an area of critical importance in modern defense capabilities.
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Market Dynamics Analysis
The dynamics of the logistics automation market are influenced by a myriad of factors that shape its trajectory, encompassing drivers, restraints, challenges, and threats. Among the primary drivers propelling the market forward is the relentless pursuit of operational efficiency and cost optimization within the logistics industry. The increasing demand for swift and accurate order fulfillment, driven by the burgeoning e-commerce sector, acts as a catalyst for the adoption of automated solutions. Furthermore, the rise of Industry 4.0 and the integration of technologies such as IoT, AI, and robotics have revolutionized traditional logistics processes, creating a favorable environment for automation. However, amidst the promising landscape, there exist notable restraints, including the substantial initial investment required for implementing automation solutions and the resistance to change within traditional logistics structures. Challenges arise in the form of interoperability issues among different automation systems and the need for skilled personnel to manage and maintain these sophisticated technologies. Additionally, cybersecurity threats pose a significant concern, given the interconnected nature of automated logistics systems.
Logistics Automation Market Segmentation:
By Component
- Hardware
- Autonomous Robots (AGV, AMR)
- Automated Storage and Retrieval Systems (AS/RS)
- Automated Sorting Systems
- De-palletizing/Palletizing Systems
- Conveyor Systems
- Automatic Identification and Data Collection (AIDC)
- Software
- Warehouse Management System
- Transportation Management System
- Services
- Consulting
- Deployment & Integration
- Support & Maintenance
By Function
- Inventory & Storage Management
- Transportation Management
By Logistics Type
- Sales Logistics
- Production Logistics
- Recovery Logistics
- Procurement Logistics
By Software Application
- Inventory Management
- Order Management
- Yard Management
- Shipping Management
- Labor Management
- Vendor Management
- Customer Support
- Others
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Vertical
- Retail & E-commerce
- Healthcare
- Automotive
- Aerospace & Defense
- Electronics & Semiconductors
- Others
Key Regional Developments
North America stands at the forefront of logistics automation, propelled by a combination of technological innovation and a robust e-commerce ecosystem. The presence of major players and a high level of automation adoption by key industries, including retail and manufacturing, contribute significantly to the region's market growth. In Europe, the logistics automation market is characterized by the integration of Industry 4.0 principles. The region's commitment to sustainability and environmental considerations has led to the adoption of smart logistics solutions that optimize energy usage and minimize ecological impact. The Asia-Pacific region is experiencing a surge in logistics automation driven by rapid urbanization and the booming e-commerce sector. The diverse economic landscapes within the region contribute to a varied approach to logistics automation adoption.
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Impact of Recession on Logistics Automation Market Growth
The logistics automation market has displayed remarkable resilience in the face of economic downturns. Traditionally, companies seek efficiency and cost-effectiveness during challenging times, driving an increased interest in automation solutions. Another dimension of the ongoing recession's impact on the market is the increased focus on environmental sustainability. Companies are recognizing that automated systems not only optimize operations but also contribute to eco-friendly practices. By minimizing fuel consumption, reducing carbon emissions, and optimizing route planning, logistics automation aligns with the growing global emphasis on sustainable business practices.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
Continued…
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