According to the report by Market Research Future (MRFR), the global logistics automation market is projected to touch USD 89.72 Billion by 2024, at a moderate CAGR of 11.7% during the review period of 2019–2024.
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Drivers and Restraints
The exemplary growth of the e-commerce industry is a significant factor driving the growth of the global logistics automation market over the review period. Digitization has transformed the shopping experience among consumers and has offered a potential platform for small and medium-size market players, apart from the large-sized market players. Logistics automation enables industries to enhance customer services by providing information in real time; for instance, automation has risen the productivity in transportation, enabling the consumer to get the information such as freight rates or transportation modes in real time. Furthermore, automation in logistics has transformed the transportation industry by decreasing the errors, resulting in the lessening of expenses, as errors in supply chain can surge the shipping cost. Additionally, with the advancements in technology has led the consumer to control the machine or a process through mobile gadgets and smartphones. Automation has as augmented the working speed and scalability in the logistics industry. These factors are expected to create favorable market scenarios over the review period.
Key Market Players
The key players in the global logistics automation market are Daifuku Co., Ltd (Japan), Dematic Corp. (US), Honeywell Intelligrated (US), Swisslog Holding AG (Switzerland), Knapp AG(Austria), Murata Machinery Limited(Japan), SSI Schaefer LLC (UAE), Jungheinrich AG (Germany), VITRONIC (Germany), MecaluxSA (Spain), Toshiba Infrastructure Systems & Solutions Corporation (Japan), Beumer Group (Germany), WiseTech Global (Australia), TGW Logistics Group GmbH (Austria), System Logistics SPA (Italy), and Falcon Autotech (UK).
On the basis of the component, the Logistics Automation Market has been segmented into software, hardware, and services. The hardware segment has been further segmented into automated guided vehicles, mobile devices, sorting and picking systems, and others.
Based on the organization size, the market for logistics automation has been segmented into large enterprises and small, and medium enterprises (SMEs).
On the basis of the application, the logistics automation market has been segmented into transportation management and warehouse management.
Based on the end-user, the market for logistics automation has been segmented into manufacturing, retail and e-commerce, oil & gas, automation, healthcare and pharmaceuticals, aerospace & defense, and others
The global market for logistics automation market is projected to expand at a substantial rate over the period. The regional analysis of logistics automation has been done for Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), North America (Canada, the US, and Mexico), Asia Pacific (China, Singapore, Japan, India, and the rest of Asia-Pacific) and the rest of the world (the Middle East and Africa, and Latin America).
North America accounts for the most significant market share being an early adopter of the technology. furthermore, the presence of various transportation, manufacturing, healthcare, automotive, retail, and pharmaceutical industries, which are few of the initial adopters of automation software and solutions, is also contributing towards the North America logistics automation market growth over the review period. Additionally, the presence of significant market players in the region such as Americold Logistics, XPO Logistics, and Honeywell Intelligrated, which offer solutions, services, and software also contribute to the growth of the market in the assessment period.
Europe is one of the significant market accounts for the second-largest market share in the global logistics automation market. This is attributed to the presence of numerous global players in the region, such as Knapp AG, Jungheinrich AG, and Swisslog.
Asia Pacific is observed as one of the significant regions in the global logistics automation market and is expected to be the fastest-growing regional market. due to the increasing adoption of innovative technology among automation, manufacturing, transportation, retail, and other industries.
LIST OF TABLES
Table1 Global Logistics Automation Market, By Country, 2019-2024
Table2 North America: Logistics Automation Market, By Country, 2019–2024
Table3 Europe: Logistics Automation Market, By Country, 2019–2024
Table4 Asia-Pacific: Logistics Automation Market, By Country, 2019–2024
Table5 Latin America: Logistics Automation Market, By Country, 2019–2024
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LIST OF FIGURES
Figure 1 Global Logistics Automation Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis Of The Global Logistics Automation Market
Figure 4 Value Chain Of The Global Logistics Automation Market
Figure 5 Share Of Logistics Automation Market In 2019, By Country (In %)
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