(MENAFN- Market Press Release) November 25, 2021 9:37 am - Global Logistics Automation Market is estimated to be USD by 2026 from USD in 2019, at a CAGR of from 2020 to 2026.
According to BlueWeave Consulting, Global Logistics Automation Market is estimated to be USD 39.17 billion by 2026 from USD 26.5 billion in 2019, at a CAGR of 5.74% from 2020 to 2026.
The logistics automation market is increasing rapidly in the global market owing to the proliferation of the acceptance rate of automation in the logistics chains globally. The convenience of minor human effort and enhanced overall operational improvement is fueling up logistics mechanization. The rise in the e-commerce industry induces a vast request for the logistics chain as the online-purchased products must be bought at the buyers' place. The rush in customer prospects for better quality and delivery systems is a prominent factor in pouring the logistics automation market. The growing preference for little or no transport charges has led to a sharper focus on automation, including flexible fulfillment networks, proximity-based cost modeling, and inventory perceptibility solutions to stay ahead of the competition. The significant restriction in the growth of the logistics automation market is Initial capital funds. Only a handful of companies own the capital prowess required to invest in automation, which might take long periods to break even. For companies under short-term pressure, the retrieval time might be too long, making them unwilling to invest.
“Retail & E-commerce Sector dominates the Vertical Segment”
Based on vertical, the market is divided into retail & e-commerce, manufacturing, oil, gas & energy, logistics & transportation, pharmaceuticals & healthcare, automotive, aerospace & defense, chemicals, food & beverage, and others. The retail & Ecommerce section is projected to be the rising section. The era of digitalization has improved internet saturation in recent years. Exposure to the internet has elevated the desire for luxury amongst people. In recent years, people started outlay more on luxury and comfort. E-commerce offers a wide variety of products and facilities over the internet and the flexibility to shop at any time from any place. This flexibility has increased people's interest in e-commerce. Growing demand for e-commerce is bolstering the request for packaging and transportation.
Growth Drivers
“Increasing Growth in E-commerce Industry and Extensive use of robotics are the key drivers in the growth of Global Logistics Automation Market”
The e-commerce explosion in current years has impacted the manufacturing, retail, and logistics industries intensely. In the last few years, the retail sector is transitioning from traditional brick and mortar stores to online stores. Such a change is putting tremendous pressure on the supply chains and warehousing systems, which is further increased by the labor challenges.
Logistics Automation is a solution to these tests and is being executed worldwide to smoothen the operating processes. Hence, the e-commerce boom is motivating the market for Logistics Automation.
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The transport management and warehouse management are proactively accepting logistics automation robots, which mechanizes moving goods and keeping across the supply chain operations. The logistics automation robots are combined with crosswise warehouses and loading facilities for organizing and shipping the products. These robots also offer improved uptime levels compared to manual labor, which leads to the growth in productivity and effectiveness of the industry.
“North America dominates the Global Logistics Automation Market”
The North American region presently grips a significant share of the global Logistics Automation market and is probable to last the same in the prediction period. U.S., China, Japan, and Germany countries are likely to predict considerable traction in the Logistics Automation market.
Global Logistics Automation Market: Competitive Landscape
Some of the leading players operating in the Global Logistics Automation Market are Dematic Corporation (US), Daifuku Co., Ltd. (Japan), Murata Machinery, Ltd. (Japan), Honeywell Intelligrated, Inc. (US), KNAPP AG (Austria), Swisslog Holding AG (Switzerland), TGW Logistics Group GmbH (Austria), SSI Schaefer AG (Switzerland), Mecalux, S.A. (Spain), VITRONIC (Germany), BEUMER Group (Germany), Toshiba Logistics Corporation (Japan), Jungheinrich AG (Germany), WiseTech Global Limited (Australia), System Logistics Spa (Italy), Falcon Autotech (India), SI Systems, LLC (US), ULMA Handling Systems (Spain), Inspirage (US), FRAMOS (Germany), Matternet Inc. (US), Pcdata BV (Netherlands), Hinditron (India), JBT Corporation (US), and OPEX Corporation (New Jersey) and other prominent players.
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