Logistics Automation Market: Segmented: By Component (Hardware, Software and Services), By Application (Warehouse & Storage Management, Transportation Management), By Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), By End-User (Retail and E-Commerce, Manufacturing, Oil, Gas, & Energy, Healthcare and Pharmaceuticals, Logistics & Transportation, Automotive, Aerospace & Defense and Others), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Logistics Automation Market to surpass USD 159.51 billion by 2031 from USD 53.58 billion in 2021 at a CAGR of 11.6% in the coming years, i.e., 2022-32.
Logistics Automation is the advancement of logistics operations through the application of automated machinery, computer software, and control systems. The automation system in machinery includes robotic arms, automated storage, and retrieval systems (AR/AS), automatic guided vehicles, etc. and software comprises of business intelligence, CRM, tracking, billing, accounting, and others. It enhances the efficiency of logistics operations by reducing manual work and saving time.
The growth of the E-commerce industry with the need for efficient logistics solutions and the advent of the industrial revolution is propelling the growth of the Logistics Automation Market.
Logistics Automation market is classified on the basis of components into Hardware, Software, and Services. During the forecast period, the Hardware segment is projected to grow with the highest CAGR. The growth is attributed to the extensive growth in the usage of automated machinery in different industries for the supply chain management. Increasing adoption of robotics and automated guided vehicles in logistics operations is driving segment growth.
Based on end-user, Logistics Automation is fragmented into Retail and E-Commerce, Manufacturing, Oil, Gas, & Energy, Healthcare and Pharmaceuticals, Logistics & Transportation, Automotive, Aerospace & Defense and Others. During the forecast period, the Retail and E-Commerce segment is projected to grow with the highest CAGR. The E-commerce industry is rapidly growing with the onset of internet services and its wide adoption by customers, which leads to the rising need for integration of logistics processes to meet the market standards amid the fierce competition in the industry.
Flourishing E-commerce industry
E-commerce industry has grown immensely in the last decade. It has completely transformed the buying and selling of consumer goods all over the world. Internet services have played a vital role in the expansion of the E-commerce industry. As consumers are more aware and have easy access to the internet, there has been a sharp rise in online shoppers. Witnessing the growing demand from consumers, major E-commerce channels are coming up with new solutions to provide quality and quick services to their customers. Fast delivery, easy returns, quick refunds, and good packaging are the main factors that have been the focus areas of E-commerce channels. Thus, the growth of E-commerce has induced the demand for efficient methods of managing logistics which is driving the market growth of Logistics Automation.
Emergence of Industry 4.0 technologies
The industrial revolution a.k.a. industry 4.0 is transforming the operational activities in various sectors. Integration of new technologies such as artificial intelligence, cloud computing, data analytics, machine learning, etc. in warehouses and supply chain systems to augment efficiency and improve customer experience will drive the market growth of Logistics Automation.
High costs and security concerns
Automation of logistics requires hefty investments for setting up the technologies, which is a major restrain as SMEs are not able to afford such high investments. Also, enterprises using cloud-based tools are at risk of a data breaches which raises security and privacy concerns regarding the software. These concerns pose a major hindrance to market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Logistics Automation market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific is projected to grow with the highest CAGR during the forecast period. The growth is attributed to the flourishing e-commerce and retail industries, the presence of various manufacturing units, the rise in disposable income, and growing investments by major companies in the region.
Covid-19 outbreak has adversely affected economies all over the world. The unprecedented effects of coronavirus had resulted in the imposition of lockdowns and strict social distancing regulations. Covid-19 caused a huge disruption in the supply chain management in the market which has hampered the growth of industries in various sectors. Covid-19 has negatively affected the Logistics Automation Market. However, after the pandemic, the Logistics Automation Market is anticipated to grow at a significant rate.
|Market size value in 2021||USD 53.58 billion|
|Revenue forecast in 2031||USD 159.51 billion|
|Growth Rate||CAGR of 11.6% from 2022 to 2032|
|Base year for estimation||2021|
|Quantitative units||Revenue in USD million and CAGR from 2022 to 2032|
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Segments covered||Component, Application, Organization Size, End-User, and Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Key companies profiled||Zebra Technologies, 6 River Systems, TGW Logistics Group, Beumer Group, VITRONIC, Dematic, Murata Machinery, Ltd, Honeywell Intelligrated, Mecalux, S.A, KNAPP AG, and Other Prominent Players|
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