The logistics automation market size is projected to reach US$ 85.19 billion by 2030 from US$ 35.21 billion in 2022 to register a CAGR of 11.7% during 2022-2030.
NEW YORK, Oct. 10, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the development and adoption of e-commerce in the retail sector are expected to generate remarkable growth opportunities for the industry players. Also, every day, many businesses integrate new technologies-such as AI, big data, and the Industrial Internet of Things (IIoT)-to automate various processes in their warehouses. This tendency is reflected, for instance, in the growing use of automatic guided vehicles (AGVs) and autonomous mobile robots. This equipment maintains nonstop workflows while redeploying operators to higher-value tasks.
Global logistics automation market experiences significant growth due to adoption of industrial 4.0 across the manufacturing industry. Browse More Insights: https://www.theinsightpartners.com/reports/logistics-automation-market
Automated solutions are proving to be the best tools for optimizing the efficiency of logistics processes, which indicates that many businesses are installing automated storage and retrieval systems (AS/RS) and automated transportation solutions. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Logistics Automation Market comprises of component, mode of freight transport, application, and end-user industry which are expected to register strength during the coming years.
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Overview of Report Findings:
- Market Growth: The Logistics Automation Market Size is expected to reach US$ 85.19 billion by 2030 from US$ 35.21 billion in 2022, at a CAGR of 11.7% during the forecast period.
- Robotics in Warehouses: With the increasing consumer expectations, the market players are focusing on investing in IT and operational functions in warehouses. There is growing development in connectivity technology globally, as tech companies make everything from sortation to arranging pallets in the warehouse internet-ready. They are leveraging the latest supply chain technology and the Internet of Things (IoT).
- Implementation of Autonomous Vehicles and Drones: Autonomous vehicles and drones are important components of automated logistics systems. Google and Tesla, for example, have made substantial advances in driverless vehicle technologies. Autonomous driving has progressed from science fiction to a very feasible possibility in the last two decades, owing to significant advances in radar technology and computer power.
- SMEs implementing Supply Chain Logistics: SMEs rely heavily on strong transport systems for expansion, which makes logistics a vital component of their operations. SMEs can benefit greatly from dependable logistics partners who use proper 3PL technologies. Their storage knowledge, extensive network with 3PL suppliers across the country, and ability to handle deliveries during peak demand cycles make them important for SMEs.
- Geographical Insights: North America dominated the Logistics Automation Market in 2022. Europe is the second-largest contributor to the global Logistics Automation Market, followed by APAC, Middle East and Africa, and South America.
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Market Segmentation:
- By component, the Global Logistics Automation Market is divided into hardware, software, and services. In 2022, the hardware segment held the largest share of the global Logistics Automation Market. Integrating logistics automation components helps streamline the logistics process, involving warehousing or transportation tasks across various end-use industries. Several hardware components, such as conveyor belts, automated guided vehicles, and sortation systems, and different software, are being adopted across multiple industries. The implementation of these components enhances the overall efficiency at a reduced cost.
- In terms of mode of freight transport, the Logistics Automation Market is segmented into land, water, and air. The land segment holds the largest share, whereas air segment is expected to register the highest CAGR during 2022-2030. The logistic service through roadways is considered one of the feasible alternatives as it ensures rapid and cost-effective transportation.
- Based on application, the logistics automation market is segmented into warehouse management and transportation management. In 2022, the warehouse management segment held the largest share of the global Logistics Automation Market. The logistics automation software is used for handling various purposes in the warehouse, such as picking automation, barcode labels automated vehicles, inventory automation, and back-office automation.
- Based on end-user industry, the global logistics automation market is segmented into manufacturing, retail and e-commerce, oil and gas, food and beverages, automotive, healthcare and pharmaceuticals, and others. In 2022, the manufacturing segment held the largest share of the global Logistics Automation Market. Implementing logistics automation in the manufacturing industry helps efficiently manage the production environment, including just-in-time strategies, effective use of floor space, labor ergonomics, balancing/sequencing of material flow, and high system uptime.
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Competitive Strategy and Development:
- Key Players: A few major companies operating in the Global Logistics Automation Market include Honeywell International Inc.; Beumer Group, Daifuku Co., Ltd.; KNAPP AG; Mecalux, S.A.; Dematic (KION Group); Murata Machinery, Ltd.; TGW Logistics Group; Swisslog Holding AG; and VITRONIC.
- Trending Topics: Digital Logistics Market, E-Commerce Logistics Market, Logistic Services Market, and Others.
Global Headlines on Logistics Automation Market:
- "Mecalux unveiled a state-of-the-art technological solution to optimise order picking: an innovative collaborative robotic picking system based on the latest artificial intelligence (AI) technology"
- "Honeywell introduced its latest software technology designed to address the expanding demands of warehousing, order fulfilment and distribution needs in Southeast Asia and other global markets"
- Manitou Group opened a new automated warehouse at its spare parts center in Ancenis. The innovative solution consists of the Shuttle System from Mecalux.
- Daifuku Co. Ltd significantly expanded its footprint in India through its subsidiary, Daifuku Intralogistics India Private Limited. This expansion includes the acquisition of Hyderabad-based Vega Conveyors & Automation in 2019, followed by a consolidation of operations and rebranding in 2022.
Europe Logistics Automation Market:
The Europe logistics automation market is segmented into Germany, the UK, France, Russia, Italy, and the Rest of Europe. In Europe, the rise in automation is one of the factors driving the logistics automation market growth. Also, constant growth in internationalization is anticipated to provide a considerable rise in opportunity for industry players in this region. This region's highly outsourced logistics services are inventory management, transportation, and warehousing. There is a rise in investment activities in Europe to strengthen the logistics automation market. For instance, according to Bnp Paribas Real Estate, the investment in industrial and logistics rose by 51% in 2021 compared to 2020, with US$ 77.39 billion (EUR 65 billion) in investments. In addition, the investment rose to over US$ 30 billion in the first half of 2022. Thus, the growing investment for efficient management in the logistics market will propel the growth for warehouse management systems during the forecast period. This creates the opportunity for the growth of logistics automation market share to meet consumer demand on time.
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The Europe logistics automation market is witnessing remarkable growth in industrial and automobile applications. The presence of large automobile manufacturing industries in Germany has fueled the demand for trade, transportation, and logistics in the country. Furthermore, economically strong countries, such as the UK, Italy, and Spain, are observing significant development in the implementation of logistics automation solutions for the optimization of supply chains across various end-use sectors, such as healthcare, retail, e-commerce, automobile, and food & beverages, across the region.
Moreover, governments of various countries are investing in automating manufacturing businesses and their business operations in the region. For instance, in July 2021, the UK government announced an investment of US$ 59.3 million (GBP 53 million) to drive the development of digital manufacturing technologies. Out of which, US$ 28.10 million (GBP 25 million) will be invested in setting up five new industry-sponsored research centers to accelerate the development of cutting-edge digital solutions that can transform manufacturing businesses. The remaining amount will be invested in a digital supply chain innovation hub and will also be provided to 37 individual projects to digitalize and transform manufacturing supply chains. Moreover, Germany's High-Tech Strategy 2025 (HTS), a German R&D and innovation program, aims to use technological change and research and innovate on topics such as human-robot collaboration. The German government is investing US$ 345 million for five years, which is ~US$ 69 million annually, until 2026 to provide solutions for the more flexible organizing of work processes or the support of mobile work. Thus, the growing government support to boost automation will further boost logistics automation market growth.
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Conclusion:
Logistics automation is being implemented, and it spans from simple computer automation systems to more sophisticated management programs, which provide enhanced facilities such as monitoring inventory management, order picking, and enhanced dock logistics facilities. The digital changes, particularly those influenced by the penetration of e-commerce, have enabled customers to create an immediate and real-time demand impact on order fulfillment operations. Such real-time demand impact, coupled with the emerging multichannel distribution support business model, is expected to drive the demand for highly adaptive and scalable logistics automated systems, fueling the growth of the logistics automation market. In addition, the supply chain industry has been undergoing a constant transformation, substantially impacting the fundamentals of warehousing and distribution. The growing trend of digitalization and technological changes is fueling the penetration of e-commerce, leading to the demand for an impactful, immediate, and real-time order fulfillment process which is further fueling the market growth globally.
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The report from The Insight Partners, therefore, provides several stakeholders-including component providers, system integrator, system manufacturers and others-with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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