OSAKA, Japan, June 21, 2022 (GLOBE NEWSWIRE) — The Global Logistics Automation Market size was valued at USD 55 Bn in 2021 and is estimated to reach USD 133 Bn by 2030, with a significant CAGR of 10.7% from 2022 to 2030.
The exponential growth of the ecommerce industry is one of the global logistic automation market trends which is driving up the industry demand. After the pandemic struck late in the first quarter of 2020, e-commerce sales increased by nearly 32% in the second quarter. According to the US Department of Commerce, first-quarter sales of US$ 154.6 billion increased to US$ 203.8 billion in the second quarter as the pandemic gained traction. As a result, e-commerce sales had increased to $215 million in Q1 2021, a more than 39 percent increase over the same quarter in 2020.
As the COVID-19 epidemic spreads across the United States, supply chain and logistics operations are significantly impacted, particularly in the North America region. Retail, consumer goods, and industrial goods are just a few of the key industries in North America that have been severely impacted by the COVID-19 outbreak.
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|Market||Logistics Automation Market|
|Market Size in 2021||USD 55 Bn|
|Market Forecast 2030||USD 133 Bn|
|CAGR During 2022 – 2030||10.7%|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Component, By Function, By Organization Size, By Industry Vertical, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Daifuku Co., Ltd, Dematic Corp, Honeywell Intelligrated, Inc., Knapp AG, Jungheinrich AG, Mecalux, S.A., Murata Machinery, Ltd, SSI Schaefer LLC, Swisslog Logistics, Inc., Toshiba Logistics Corporation, and Vitronic Machine Vision, Ltd.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Logistics Automation Market Growth Factors
The rising adoption of industry 4.0 is one of the key factors driving the growth of the global logistics automation market. The digitalization of several processes, as well as the widespread adoption of technologies such as block chain, the Internet of Things (IoT), augmented reality, and artificial intelligence (AI), is expected to bring about paradigmatic changes in the logistics and international transportation sectors in the coming years, creating new opportunities for those who can influence these technologies and widening gaps with sectors that fail to adapt to the new coexistence.
In addition, advancements in robotics technologies are also fueling the market demand. Robots are utilized to efficiently and quickly move things from one location to another. They eliminate the need for manual involvement in a variety of activities such as material handling and warehousing by automating laborious, uninteresting, and dangerous tasks. Then again, the increasing penetration of AI, IoT, big data, and machine learning technologies is one of the key aspects that will flourish the logistics automation sector with several growth prospects. However, the lack standardization and the requirement of high capital investment are some of the aspects that are hindering the market to grow with substantial rate.
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Global Logistics Automation Market Segmentation
The logistics automation market is divided into five categories: component, function, organization size, industry vertical, and geography. Based on components, the logistics automation market is divided into hardware, software, and services. Based on our analysis, the hardware segment achieved a substantial market share in 2021.
By function, the market is bifurcated into warehouse and storage management and transportation management. Large enterprises and SMEs are the splits of organization size segment. Large enterprises accumulated a bigger share in the organization size during the forecast period. However, the small and medium enterprises growing focus on automation to streamline their process is also expected to boost the demand for the logistics automation industry in the coming years.
The industry vertical segment is categorized as 3PL, aerospace and defense, chemicals, fast-moving consumer goods (FMCG), healthcare and pharmaceuticals, manufacturing, oil, gas, and energy, and retail and eCommerce. Among them, retail and eCommerce are one of the leading industries that require logistics automation as a process. With automated e-commerce systems, retailers can increase order fulfillment speed, improve order accuracy, and effectively administer an ever-increasing number of stock-keeping units. Order fulfillment rates can be 5 times faster than with manual systems.
Logistics Automation Market Regional Stance
North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa are the market’s regional segments. Based on regions, North America accounted for the majority of the shares in 2021 due to the presence of retail and ecommerce giants. In addition, the early adoption of technologies, decent presence of tech giants, and increased focus on automation across industries are also supporting the North American market. Europe, on the other hand, gained the second highest market share in the worldwide logistics automation industry owing to the presence of numerous key players in the region, such as Knapp AG and Swiss log. However, the Asia-Pacific region is likely to attain the fastest growth rate throughout the forecast period 2022 – 2030. The high growth in the region is attributed to the growing e-commerce industry, rising population, and increasing focus on the rapid adoption of automation technology in industries such as transportation, retail, and manufacturing, among others.
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The logistics automation industry involves many key players. The top players presented in the report include Daifuku Co., Ltd, Dematic Corp, Honeywell Intelligrated, Inc., Knapp AG, Jungheinrich AG, Mecalux, S.A., Murata Machinery, Ltd, SSI Schaefer LLC, Swisslog Logistics, Inc., Toshiba Logistics Corporation, and Vitronic Machine Vision, Ltd.
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