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Logistics Automation Market To Reach USD 91.58 Billion By 2032 Amidst Rising Demand For Efficient Supply Chain Solutions | Research By SNS Insider
| Report Attributes | Details |
| Market Size in 2023 | US$ 33.32 Bn |
| Market Size by 2032 | US$ 91.58 Bn |
| CAGR | CAGR of 11.93% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | .The cost of implementing automation technologies can be substantial, posing a barrier for smaller businesses. .There is a lack of trained professionals to manage and operate advanced automation systems. .Absence of uniform regulatory guidelines. .Integrating automation systems into existing infrastructure and processes can be difficult and disruptive |
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Hardware Dominated 2023 Logistics Automation Market; Software Segment Set for Rapid Growth
The hardware segment dominated the logistics automation market in 2023, capturing a maximum revenue share of 66.6%. This dominance is largely attributed to the widespread adoption of Automated Storage and Retrieval Systems (ASRS), which are essential for efficient material handling and inventory management. ASRS systems, comprising storage racks, input/output systems, S/R equipment, and computer management systems, have become indispensable in large-scale warehouses and distribution centers, significantly enhancing storage efficiency and retrieval accuracy.
The software segment is anticipated to grow at a CAGR of 15.2% throughout the forecast period. Within this segment, warehouse management software (WMS) is expected to be the fastest-growing solution. WMS automates critical warehouse processes, including inventory tracking, storage management, receiving, and workload planning, leading to enhanced efficiency and reduced operational costs. As businesses increasingly prioritize digital transformation, the demand for robust software solutions like WMS is projected to surge, driving the overall growth of the software segment.
Logistics Automation Market Key Segmentation:
By Component
- Hardware
- Autonomous Robots (AGV, AMR) Automated Storage and Retrieval Systems (AS/RS) Automated Sorting Systems De-palletizing/Palletizing Systems Conveyor Systems Automatic Identification and Data Collection (AIDC)
- Warehouse Management System Transportation Management System Services Consulting Deployment & Integration Support & Maintenance By Function Inventory & Storage Management Transportation Management
By Type
- Sales Logistics Production Logistics Recovery Logistics Procurement Logistics
By Application
- Inventory Management Order Management Yard Management Shipping Management Labor Management Vendor Management Customer Support Others
By Vertical
- Retail & E-commerce Healthcare Automotive Aerospace & Defense Electronics & Semiconductors Others
Regional Analysis
Dominating Region: North America
North America dominated the logistics automation market in 2023, driven by the early adoption of advanced technologies and a strong focus on enhancing supply chain efficiency. The region's large-scale e-commerce industry, coupled with the presence of key market players, has led to significant investments in logistics automation solutions. Companies in the region are increasingly deploying automation technologies to streamline their operations, reduce costs, and improve customer satisfaction. Additionally, the implementation of stringent regulatory frameworks governing supply chain operations has further propelled the adoption of logistics automation solutions in North America.
Fastest-Growing Region: Asia-Pacific
Asia-Pacific is expected to be the fastest-growing region during the forecast period, fueled by rapid industrialization, urbanization, and the expansion of the e-commerce sector. Countries such as China, India, and Japan are witnessing substantial investments in logistics infrastructure, driven by the need to support the growing demand for faster and more reliable delivery services. The increasing focus on enhancing supply chain visibility and efficiency is encouraging businesses in the region to adopt logistics automation technologies. Furthermore, the rise of smart cities and advancements in IoT and AI technologies are expected to further accelerate market growth in the Asia-Pacific region.
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Recent Developments
- August 2023 : Honeywell International Inc. launched its new Smart Flexible Depalletizer, designed to automate the task of unloading products from pallets, reducing manual labor and increasing warehouse efficiency. June 2023 : KION Group AG announced the expansion of its robotics portfolio with the launch of new autonomous mobile robots (AMRs) for material handling, enhancing flexibility in logistics operations. May 2023 : Toyota Material Handling unveiled its latest automated guided vehicles (AGVs) designed for heavy-duty logistics tasks, providing enhanced operational efficiency in large warehouses. March 2023 : Zebra Technologies introduced its new warehouse execution system (WES) software, which integrates with existing warehouse management systems to optimize order fulfillment processes.
Key Takeaways
- The logistics automation market is poised for significant growth, with the global market expected to reach USD 91.58 billion by 2032. The hardware component, particularly ASRS, dominated the market in 2023, while software solutions, especially WMS, are projected to experience the fastest growth. North America led the market in 2023, driven by early technology adoption, while Asia-Pacific is expected to be the fastest-growing region due to rapid industrialization and e-commerce expansion. Recent developments in the market highlight the ongoing innovation and expansion of product portfolios by key industry players, ensuring continued growth and adoption of logistics automation solutions globally.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Labor Management
6. Competitive Landscape
7. Logistics Automation Market Segmentation, By Component
8. Logistics Automation Market Segmentation, By Function
9. Logistics Automation Market Segmentation, By Type
10. Logistics Automation Market Segmentation, By Application
11. Logistics Automation Market Segmentation, By Vertical
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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