Logistics Automation Market Size To Surpass $147.4 Billion By 2030 Beumer Group Gmbh & Co. KG, Mecalux, S.A

(MENAFN- EIN Presswire)

logistics automation market

By end-use industry, the retail and e-commerce segment is anticipated to exhibit significant growth in the near future.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, July 18, 2024 /EINPresswire / -- Rise in e-commerce, advancements in robotics technologies, adoption of industry 4.0 technologies, and improved efficiency and workforce safety have boosted the growth of the global Logistics Automation Market . However, high initial investment hinders the market growth. On the contrary, adoption of autonomous vehicles & drones and greater demand for warehouse automation from developing countries are expected to open new opportunities in the future. The global logistics automation market was valued at $49.7 billion in 2020, and is projected to reach $147.4 billion by 2030, growing at a CAGR of 11.9% from 2021 to 2030.

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The significant factors impacting the growth of the logistics automation market comprise improved efficiency & workforce safety, growth in e-commerce, adoption of industry 4.0 technologies, and advancements in robotics technologies. Moreover, factors such as high initial investment, are expected to be hampering the market growth. Furthermore, adoption of autonomous vehicles & drones, and greater demand for warehouse automation from emerging economies are expected to create new growth opportunities for the logistics automation market during the forecast period.

By product, the software segment is estimated to portray the highest CAGR of 12.9% during the forecast period, due to benefits such as shorter processes, increased speed, and high-quality performance. However, the hardware segment held the largest share in 2020, accounting for nearly two-thirds of the global logistics automation market, owing to adoption of efficient automation technologies to control operational logistics costs.

Regional Analysis:

By region, the global logistics automation market size across North America held the largest share in 2020, accounting for more than one-third of the market. This is due to high adoption of automated systems for warehouse & distribution centers and technological advancements. However, the market across Asia-Pacific is expected to register the highest CAGR of 13.4% during the forecast period, owing to rise in e-commerce, surge in adoption of automation solutions such as robotics technology, autonomous mobile robots, and greater need for fast last-mile delivery services.

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Labor shortages are currently being faced across the globe, which in turn is creating the demand for warehouse automation. Moreover, companies in emerging countries such as China and India, are also adopting automation in warehouse to get ahead of labor shortage. For instance, in 2022, Cainiao Network Technology built the largest unmanned warehouse in Southeast Asia for Thai courier Flash Express. This unmanned warehouse can process 6,000 parcels a day and this can rise to 20,000 a day during peak season. Henceforth, greater demand for warehouse automation from emerging countries is the factor that will be creating new growth opportunities for logistics automation market during the forecast period.

By application, the warehouse and storage management segment held the largest share in 2020, contributing to more than two-thirds of the global logistics automation market, owing to adoption of stacker cranes, automated guided vehicles, and pallet conveyor systems. However, the transportation management segment is projected to manifest the highest CAGR of 13.2% during the forecast period, as it assists in decreasing freight costs, tracking deliveries in real-time, and improving customer service.

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Based on organization size, the global logistics automation market share is segregated into SME, and large enterprises. Large enterprises are utilizing automated material handling technology for several processes such as categorization and moving heavy items, or containers within warehouse. In addition, autonomous mobile robots are also being utilized to move materials from picking area to order packing area within the warehouse. For instance, in January 2022, DHL supply chain announced $15 million investment in robotics solutions from Boston Dynamics to further automate warehousing in North America. Boston Dynamics will equip DHL facilities with“Stretch”, which is a robot designed to automate unloading process in distribution centers.

The key players profiled in this report include

Beumer Group GmbH & Co. KG, SSI Schaefer Group, Mecalux, S.A., Daifuku Co., Ltd., Knapp AG, Jungheinrich AG, Honeywell International Inc., TGW Logistics Group GmbH, Murata Machinery, Ltd., Kion Group AG

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David Correa
Allied Market Research
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