Logistics Automation Market to hit US$ 121,343.3 Million, Globally, by 2027 at 14.3% CAGR: The Insight Partners

Logistics Automation Market to hit US$ 121,343.3 Million, Globally, by 2027 at 14.3% CAGR: The Insight Partners

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Latest market study on “Logistics Automation Market to 2027 by Component (Hardware, Software, Services); Application (Warehouse Management, Transportation Management); Mode of Freight Transport ( Air, Road, Sea ); End-User Industry ( Retail and E-Commerce, Manufacturing, Oil and Gas, Food and Beverage, Automotive, Healthcare and Pharmaceutical, Others ); – Global Analysis and Forecast”, the logistics automation market is estimated to reach US$ 121,343.3 Mn by 2027 from US$ 39,286.3 Mn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

Strategic Insights        

Report Coverage

Details

Market Size Value in

 US$ 39,286.3 Million in 2018

Market Size Value by

 US$ 121,343.3 Million by 2027

Growth rate

 CAGR of 14.3% from 2019-2027

Forecast Period

 2019-2027

Base Year

 2019

No. of Pages

 226

No. Tables

 111

No. of Charts & Figures

 93

Historical data available

 Yes

Segments covered

 Component; Application; Mode of Freight Transport; End-User Industry, and Geography

Regional scope

 North America; Europe; Asia Pacific; Latin America; MEA

Country scope

 US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South  Korea, Saudi Arabia, Brazil, Argentina

Report coverage

 Revenue forecast, company ranking, competitive landscape, growth factors, and trends

 

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In Asia-Pacific, Rapid digitalization and developments in the economy, increasing education awareness, adequate government support, and rising incomes of the middle class are among the attributable factors that have ensured a smooth transition of these economies from the developing stage toward a developed stage. The e-commerce industry already represents 15% of total retail sales across the region. The region continues to be the fastest-growing region. Such above mentioned factors is expected to fuel the growth of logistics automation market in Asia-Pacific. APAC is also expected to be the fastest-growing region in the global logistics automation market during the forecast period.

 Europe is a technologically advanced region. The e-commerce and online retail are key drivers for the upsurge in the demand for diverse types of warehouses such as parcel sorting centers, mega fulfillment centers (merchandise storage and pick-up), local parcel delivery centers, return processing centers, dot.com warehouses (fulfillment of online orders), and local delivery centers (for same-day deliveries). The global warehouse and storage market in Europe has grown annually by ~2-3% due to growth in the online retail and e-commerce sector. These factors are contributing to the high growth of the logistics automation market in this region.

Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Logistics Automation Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

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Growing Adoption of Industrial 4.0 across Manufacturing Industry

The manufacturing sector is increasing globally; as per the China Federation of Logistics and Purchasing (CFLP), the global manufacturing purchasing managers’ index (PMI) accounted approximately 50% in August 2019, which was down from 51.3 in August 2018.This signifies a robust recovery of the manufacturing sector across the developed countries, growing industrial advancement in the developing economies as well as the escalation of commodities prices on the global market. Thus, the expansion of the manufacturing industry due to the adoption of technologically advanced solution, results in the enhancement of the plant productivity, gain competitive advantage and maintain the edge with the customers. The manufacturers of various products face huge competition with other market players on account of quality, costs, service, and time taken for the overall process.

Logistics Automation Market: Application

The storage and shipping of goods from the point of origin supplier to intermediate and finally to end users in the different locations are all managed by the logistics automation software. This software mainly focuses on the transportation of goods by different modes as well as warehousing management. The companies serve an extensive range of industries by providing innovative software and services to their customers. The highly used outsourced services include warehousing, transportation, freight forwarding, and supply chain, along with several value-added services such as cross-docking, packaging, and shipment consolidation. Based on application, the global logistics automation market is categorized into warehouse management and transportation management.

Logistics Automation Market: Competitive Landscape and Key Developments

Beumer Group, Daifuku Co., Ltd., Dematic (KION Group), Honeywell Intelligrated, KNAPP AG, Mecalux, S.A., Murata Machinery, Ltd., Swisslog Holding AG, TGW Logistics Group, and VITRONIC among others. Several other companies are among the key players in the global Logistics Automation market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2019, Honeywell announced the creation of Honeywell Robotics to help shape the warehouse and distribution center of the future, particularly for companies looking for automated solutions, software and robotics to deliver increased speed, accuracy and throughput in complex material handling environments.

In 2019, Daifuku Co., Ltd. announced acquisition of India-based Vega Conveyors & Automation Private Limited. Vega offers consulting, design, manufacture, installation and after-sales service of conveyors and other material handling equipment within its domestic Indian market.

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