ID: MRFR/ICT/6547-HCR | February 2021 | Region: Global | 111 pages
The help of logistics automation is vast for the insert. The warehousing, development and sales of the market are improving. Further, transportation, inventory management and distribution are effortless with logistics automation. The surge in the logistics automation market is leading to exceptional developments in the market. The focus on core market operations is high due to automation in the logistics market. Further, Logistics Automation Market Forecast shows that market value rises to 89.72 billion in 2024.
Logistics Automation Market Covid Analysis:
The covid 19 pandemic continues to affect the operation of global industries. Especially, the North American region is facing plenty of challenges. The supply chain disruptions are affecting the demand for the market. The consumer goods and the retail market are the major sectors affected by the pandemic. Also, the changing governmental policies and lockdowns are a challenge to the market.
The freight service provides are facing restrictions to deliver the goods. The consumer in the logistics industry is facing specific demands. However, all these operations are affected due to the pandemic. Post covid 19, the operations of the market is expected to run smoothly. Further, the deployment of logistics automation technology will happen widely. The demand rate of the market is expected to be tremendous in the upcoming years. The consumer goods industry is resuming its operations. It will bring a positive effect on the logistics automation market.
Crucial Market Drivers:
There are few crucial drivers for the market that will continuously fuel the demand. The advancements in robotics are a crucial driver for this market. Robotics is used in this industry to transfer products from one place to another. Time and cost efficiency is the biggest advantages of robotics. The warehousing and material handling tasks are unsafe. However, with robotics, these tasks are quick and effortless. The safety is higher when there is no manual intervention. In many organisations, labour cost is a primary concern. However, robotics redoes labour costs in the logistics market. The adoption of robotic technology drives more demand for the logistics market.
Also, operational efficiency and low operating cost further raise the demand. In real-time, decision making in warehouses is efficient with robotics technology. The AL-machine can learn, think and make decisions. The adoption of robotics in the logistic automation market will bring favourable changes in the upcoming years. Adoption ad market expansion is higher due to this. Also, the rising demand for the e-commerce industry benefits the logistics automation market. The growth of the e-commerce industry will lead to more products transfer and delivery. It will ultimately lead to the growth of the logistics automation market.
The future of the logistics market depends on these technologies. The driverless vehicles will be used in the logistics distribution centre. The unloading of packages with conveyor belts and robot rams will be common in the upcoming years. Also, the leading manufacturing units will quickly adopt these technologies. Companies such as Amazon ate already launching flying drones. These technological advancements will dominate the logistics automation market. All the logistic tasks will be efficient and effective. Most of the tasks require no human intervention. All these developments will attract a new customer base for the market. Due to these factors, Logistics Automation Market Growth opportunities are promising.
Installation of software, solutions and automation equipment requires massive investments. Many companies find it difficult to manage this cost. Also, medium enterprises will not be able to afford these automation technologies. Due to the high capital investment, the adoption o logistics automation can slow down. Automation Market Research Report shows that companies with limited funds will hesitate to adopt these technologies.
Proper training is a need in any industry for the staff to handle these technologies. It is time-consuming to deploy and use logistics automation. Also, the specialised training includes AL, big data and complex subjects. The lack or shortage of such professionals is a significant issue in this market. The lack of skilled professionals can lead to revenue losses. This significant market challenge can affect overall logistics automation market growth.
The future of the logistics automation market depends on the use of robotics. Further, the launch of autonomous vehicles in logistics will create tremendous growth opportunities. Driverless trucks, drones highly benefit the market. Quicker and safer logistics tasks are possible with these technologies. However, high capital investment is a limitation in this market. Further, the lack of expert help can lead to severe damages. As per the analysis, the Logistics Automation Industry growth is stable.
It is a region known for its exceptional industrial growth. Also, the technological infrastructure is developing in this region. All these factors contribute to the high adoption of automation in the logistics industry. The booming eCommerce industry is another driver for this market. The investments rate in the Asia Pacific region will increase during the forecast period. These factors are projected to enhance the logistics automation market in the Asia Pacific region.
Logistics Automation Market Segment Overview:
By Organization Size:
Logistics Automation Market Competitive Landscape:
The competition in logistic automation is high. The entry of new key players will fuel the competition. However, technological advancements are the key aspects of the competitive landscape. Market expansion, acquisition and partnerships are also possible in the forecast period.
Logistics Automation Market Regional Analysis:
The logistic automation market is segmented are Asia Pacific, North America and Europe. The Asia Pacific will lead the other regional players. The revenue rate will reach the highest in this region. Also, a wide range of growth opportunities is available. The key players are strong with high investments.
New developments and advancements will happen in Asia pacific. North America is the early adopter of automation technology. There are top logistics firms in this region. US and Canada will be the key contributors in this region. High spending power will bring favourable development in this region. Europe is facing moderate demand. The growth opportunities are higher in this region.
The key players of the logistics automation market are
The Honeywell key players of the market are launching cloud-based robotics in the logistics market. This advancement will lead to more efficiency of the market.
The key players of the market are launching active warehouse solutions. It unifies the distribution tasks of the logistics market.
|Market Size||USD 89.72 Billion (2026)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Component, By Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Dematic Corp. (US), Daifuku Co., Ltd (Japan), Swisslog Holding AG (Switzerland), Honeywell Intelligrated (US), Murata Machinery Limited(Japan), Knapp AG(Austria), Jungheinrich AG (Germany), SSI Schaefer LLC (UAE), MecaluxSA (Spain),, VITRONIC (Germany), Beumer Group (Germany), Toshiba Infrastructure Systems & Solutions Corporation (Japan), TGW Logistics Group GmbH (Austria), WiseTech Global (Australia), System Logistics SPA (Italy), and Falcon Autotech (UK).|
|Key Market Opportunities||The exponential growth of e-commerce is a major factor propelling the growth of the global logistics automation market.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The logistics automation market can thrive at 10% CAGR by 2026.
The logistics automation market can value at USD 89.72 Bn by 2026.
Toshiba Infrastructure Systems & Solutions Corporation (Japan), WiseTech Global (Australia), and TGW Logistics Group GmbH (Austria) are some reputed names in the logistics automation market.
Transportation management and warehouse management are areas of applications of logistics automation.
Retail, manufacturing, e-commerce, healthcare, oil & gas, pharmaceuticals, and automation are some of the end-users of logistics automation.