DUBLIN, May 29, 2023 /PRNewswire/ — The “Logistics Automation Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
The logistic automation market is anticipated to increase at a CAGR of 11.95% over the forecast period, rising from US$44.649 billion in 2021 to US$98.384 billion by 2028.
Companies Mentioned
- Dematic
- Daifuku
- Swisslog
- Honeywell Intelligrated
- Murata Machinery
- Knapp AG
- Jungheinrich AG
- SSI Schaefer
- Mecalux, S.A.
- Vitronic
- Beumer Group
- Toshiba Logistics
In logistics, automation is the use of machinery, software, and control systems to increase operational efficiency. It usually refers to operations that must be carried out at a warehouse or distribution center and call for little human involvement.
Improved customer service, scalability and speed, organizational control, and fewer errors are a few advantages of automation logistics. Industries can conduct a variety of operations, including material batching, picking, ordering, packaging, warehouse security, and inspection, thanks to the Industrial Internet of Things (IIoT) and the development of a network of connected systems.
The growth of the industry is being driven by the increasing emphasis that firms are placing on reducing logistical costs in order to increase revenues. The market for logistics automation solutions is further expanding as a result of numerous endeavors by businesses to streamline their logistics division. Nevertheless, the market is anticipated to experience considerable growth over the course of the projection period as end-users continue to invest in these products and awareness of them rises.
The logistics automation market is driven by the increasing adoption of Industry 4.0 and the rise in E-commerce.
Industry 4.0 refers to a developing tendency in manufacturing industries toward automation, data interchange, and technology and procedures. Big data and artificial intelligence, data analytics, cloud computing, augmented reality, the industrial internet of things, additive manufacturing, autonomous robots, and digital twins are all part of industry 4.0 technology.
These technologies are being adopted by manufacturers and logistics firms in order to increase production and efficiency, improve flexibility and agility, and enhance customer experience. The increasing use of Industry 4.0 is one of the key factors fueling the growth of the global logistics automation market.
Automation has improved productivity, given more control, and facilitated the purchase of a variety of goods. Additionally, it is quite helpful for managing inventories and the production process. Further, it helps with the distribution of a variety of goods and the enhancement of customer service.
The global expansion of e-commerce has increased the demand for effective inventory and storage management. According to data released by the Census Bureau of the Department of Commerce, third-quarter 2022 retail e-commerce sales in the United States were estimated to have totaled $265.9 billion, a 3.0% rise from the second quarter of 2022.
Online clients anticipate order accuracy, same-day or same-hour delivery, and free returns, so the surge in e-Commerce activities necessitates logistics providers to operate faster and more efficiently for quickly processing tiny individual orders. Many e-commerce businesses are looking into novel approaches to shorten order delivery times and cut expenses. Transparency, affordability, ease, promptness of delivery, and attractive frictionless returns are all driven by the e-Commerce sector.
North America accounts for major shares of the logistics automation market.
By geography, the tank level monitoring market has been segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The Asia Pacific logistic automation market has been segmented into Japan, China, India, South Korea, Thailand, Taiwan, and others. The market in these countries is expected to grow due to the increased adoption of technologies such as Artificial Intelligence, and the Internet of Things
Logistics automation allows the use of control systems for operating machinery, processes, vehicles, vessels, and aircraft through the use of advanced technology which is also a major component of Industry 4.0. The Indian manufacturing sector can be benefited due to the incoming of the fourth industrial revolution. An increased number of logistics and warehousing companies can help in improving operational speed and efficiency. Moreover, due to growing digitalization in India, consumers are aware of the benefits associated with logistics automation in the manufacturing sector, as they reduce overhead costs and time, streamlines the supply chain, minimizes manual errors, etc. Consequently, the Indian economy has been positively inclining toward development in the logistics segment, for example, in 2018, India was ranked 44th in The World Bank LPI Index moving up from 54th in 2014.
Furthermore, in order to take advantage of the present business opportunity, the market players are actively working on research and development in order to make mindful investments and launch to expand the product offering of this market. For instance, in December 2021, a Bengaluru-based startup, ANSCER Robotics, unveiled its range of Autonomous Mobile Robots (AMRs) at the India Warehousing Show (IWS). AMRs are highly recommended to be used for internal logistics. Their product range includes the AR 250, AR 650, and AR 1250. The range has been named after the payload each robot can carry.
Market Segmentation:
By Component
- Hardware
- Software
- Services
By Enterprise Size
- Small
- Medium
- Large
By Application
- Warehouse and Storage Management
- Transportation Management
By End-User Industry
- Retail
- Manufacturing
- Oil and Gas
- Chemical
- Agriculture
- Pharmaceutical
- Others
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germnay
- France
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Thailand
- Taiwan
- Others
For more information about this report visit https://www.researchandmarkets.com/r/78v806
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SOURCE Research and Markets
