NEWS PROVIDED BYTechnavio
May 27, 2024, 11:24 ET
NEW YORK, May 27, 2024 /PRNewswire/ — The global logistics automation market size is estimated to grow by USD 20.27 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.41% during the forecast period.
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| Logistics Automation Market Scope | |
| Report Coverage | Details |
| Base year | 2023 |
| Historic period | 2018 – 2022 |
| Forecast period | 2024-2028 |
| Growth momentum & CAGR | Accelerate at a CAGR of 9.41% |
| Market growth 2024-2028 | USD 20.27 billion |
| Market structure | Fragmented |
| YoY growth 2022-2023 (%) | 8.88 |
| Regional analysis | APAC, North America, Europe, South America, and Middle East and Africa |
| Performing market contribution | APAC at 41% |
| Key countries | US, China, Japan, Germany, and France |
| Key companies profiled | ABB Ltd., Applied Materials Inc., Auto Control Systems Pty Ltd., DENSO Corp., Emerson Electric Co., FANUC Corp., Festo SE and Co. KG, Honeywell International Inc., Kawasaki Heavy Industries Ltd., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Aurotek Corp., Yaskawa Electric Corp., Yokogawa Electric Corp., and Siemens AG |
Market Driver
The logistics automation market is experiencing a transformation through the integration of robotics in warehouse management. Robotics offer advantages such as heightened efficiency, accuracy, and cost savings, making them an attractive solution for organizations seeking to streamline supply chain processes. Productivity and efficiency are paramount in today’s complex logistics landscape, with traditional manual operations often plagued by inefficiencies like human error, slow processing times, and limited scalability.
Robotics, fueled by technologies like artificial intelligence, data analytics, machine learning, and IoT, are addressing these challenges and driving automation in logistics, e-commerce, and warehousing. Compliance requirements and import export analysis are also benefiting from these advanced automation solutions. Digital transformation continues to shape logistics operations, with autonomous vehicles and highways, city streets, and AI sensors playing increasingly significant roles.
Market Challenges
- The logistics automation market has experienced substantial growth due to the demand for efficient and cost-effective supply chain operations. Technologies like robotics, AI, and machine learning facilitate streamlined logistics processes, minimize errors, and boost productivity. However, the high initial investment for implementing automation solutions, including hardware, software, integration, training, and maintenance, poses a significant challenge.
- This investment can be substantial for large-scale operations or entire supply chains. Logistics automation encompasses digital transformation, robotics, warehousing, automated storage, logistics businesses, supply chain efficiency, real-time visibility, inventory levels, purchase and sale of goods, error reduction, and various logistics processes such as outbound logistics, order processing, packaging, transportation, and delivery. Technologies like autonomous vehicles, drones, and digital systems play crucial roles in enhancing logistics operations.
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Segment Overview
- Component
- 1.1 Hardware
- 1.2 Software
- 1.3 Services
- End-user
- 2.1 Retail and ecommerce
- 2.2 Automotive
- 2.3 Healthcare
- 2.4 Aerospace
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and Africa
1.1 Hardware- The logistics automation market is segmented by component, with hardware playing a pivotal role in ensuring errors are minimized and efficiency is maximized. Real-time visibility into inventory levels is crucial for effective purchase and sale of goods, mitigating shortages and enhancing sales logistics and outbound logistics. Order processing, packaging, and transportation require automation to ensure timely delivery and manage relationships with customers.
Robotics and artificial intelligence, key hardware components, streamline warehouse operations and logistics management, particularly in e-commerce and complex supply chains. Data analytics, inventory accuracy, and compliance requirements are facilitated by hardware, enabling import export analysis and IoT integration. Labour shortages necessitate automated solutions for warehouse efficiency, while machine learning and advanced technologies further enhance the market’s potential.
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Research Analysis
The Logistics Automation Market is experiencing significant growth due to the digital transformation sweeping through logistics businesses. This transformation is driven by technological advancements such as logistics robots, automated storage, and autonomous vehicles. Warehousing operations are becoming more efficient with the integration of AI, sensors, and vision technologies into Warehouse Management Systems.
Robotics and Artificial Intelligence are revolutionizing Logistics Management, enhancing inventory accuracy and streamlining supply chain operations. E-commerce is also fueling the demand for logistics automation, as businesses seek to meet the increasing consumer expectation for fast and reliable delivery. Data analytics is playing a crucial role in optimizing logistics operations and ensuring supply chain viability.
Market Research Overview
The Logistics Automation Market is experiencing significant growth due to the increasing demand for efficient and streamlined supply chain operations. This market encompasses various technologies such as robotics, artificial intelligence, and the Internet of Things (IoT), which are transforming the way goods are transported, stored, and managed. Logistics automation solutions enable real-time tracking and monitoring of inventory, optimize transportation routes, and reduce manual labor, resulting in cost savings and improved productivity.
Additionally, the integration of machine learning algorithms and predictive analytics enhances supply chain visibility and agility, allowing businesses to respond quickly to market demands and customer needs. Overall, logistics automation is revolutionizing the logistics industry by increasing efficiency, reducing errors, and improving customer satisfaction.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Component
- Hardware
- Software
- Services
- End-user
- Retail And Ecommerce
- Automotive
- Healthcare
- Aerospace
- Others
- Geography
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio