Press release
Logistics Automation Market 2024: Detailed Global Insights and Trends
Logistics Automation Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $109.51 billion In 2028 At A CAGR Of 12.6% :
The logistics automation market size has grown rapidly in recent years. It will grow from $60.7 billion in 2023 to $68.08 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to cost reduction, demand for efficiency, e-commerce growth, globalization, customer expectations, sustainability concerns.
The logistics automation market size is expected to see rapid growth in the next few years. It will grow to $109.51 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to autonomous vehicles, warehouse robotics, robotic process automation (RPA), customization and flexibility, collaborative robotics (Cobots). Major trends in the forecast period include blockchain technology, artificial intelligence (AI) integration, technological advancements, autonomous vehicles and drones, robotics in warehousing.
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Logistics Automation Market Major Segments
The logistics automation market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Function: Warehouse and Storage Management, Transportation Management
3) By Organization Size: Small-Medium Size Organizations, Large Scale Organization
4) By End-User: Retail and E-Commerce, Automotive, Food and Beverage, Logistics and Transportation, Other End Users
Key Driver - E-Commerce Surge Fuels Robust Growth In The Logistics Automation Market
The growth of the e-commerce industry is expected to propel the growth of the logistics automation market going forward. Ecommerce refers to the buying and selling of goods and services with the help of the Internet. Logistics automation is used by the e-commerce industry to maintain its stock in warehouses and distribution centers. This helps in the easy handling of goods between different departments in the company. For instance, in February 2022, according to Forbes, a US-based business magazine, during the time of the pandemic, e-commerce sales grew by 50%, and the business of eCommerce during this time stood at $870 billion. Therefore, the growth of the e-commerce industry is driving the logistics automation market growth.
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Prominent Trend - Strategic Collaboration For End-To-End Automation Solutions In The Logistics Market
Major companies operating in the logistics automation market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in December 2023, Logistex, UK-based, Software company collaborate with Geek+, a China-based, global technology company, to enable end-to-end automation solutions for logistics to customers. Combining Logistex's expertise in warehouse design and software with Geek+'s advanced mobile robotic solutions creates a comprehensive suite for streamlining fulfillment and maximizing productivity.
Logistics Automation Market Players
Major companies operating in the logistics automation market report are Oracle Corporation, ABB Ltd., Toshiba Logistics Corporation, Murata Manufacturing Co Ltd., Kion Group AG, Jungheinrich Aktiengesellschaft, Daifuku Co Ltd., Kuka Robotics GmbH, Yaskawa Electric Corporation, Dematic GmbH, JBT Corporation, SSI Schaefer AG, Knapp AG, Körber Supply Chain Solutions, Mecalux S.A., Beumer Group GmbH, TGW Logistics Group GmbH, Manhattan Associates Inc., Swisslog Holding AG, JDA Software Group Inc., WiseTech Global Limited, Descartes Systems Group Inc., System Logistics SpA, VITRONIC GmbH, Falcon Autotech Private Limited, One Network Enterprises Inc., Hinditron Group Of Companies, SI Systems Inc., HighJump Software LLC, Matternet Inc., FANUC Corporation, Kawasaki Heavy Industries Ltd.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the logistics automation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the logistics automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Logistics Automation Market Report Structure
3. Logistics Automation Market Trends And Strategies
4. Logistics Automation Market - Macro Economic Scenario
5. Logistics Automation Market Size And Growth
…..
27. Logistics Automation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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