Latest market study on “Logistics Automation Market to 2028 by Component (Hardware, Software, Services); Application (Warehouse Management, Transportation Management); Mode of Freight Transport ( Air, Road, Sea ); End-User Industry ( Retail and E-Commerce, Manufacturing, Oil and Gas, Food and Beverage, Automotive, Healthcare and Pharmaceutical, Others ); – Global Analysis and Forecast”, the logistics automation market is estimated to reach US$ 121,343.3 Mn by 2028 from US$ 39,286.3 Mn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.
Growing advancement in technology has encouraged increasing adoption of robots for various industries. Logistics automation is becoming essential for retailers owing to growing retail & e-commerce sectors worldwide. Market players are trying to achieve omnichannel and online strategies. Thus, logistics automation is necessary for retailers. The logistics automation ensures the management of the inventory, tracking, reporting and forecasting, packaging, transportation of goods, and warehouse management. The constant growth in the retail & e-commerce sector is expected to create new opportunities for the global logistics automation market during the forecasted period.
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In Asia-Pacific, Rapid digitalization and developments in the economy, increasing education awareness, adequate government support, and rising incomes of the middle class are among the attributable factors that have ensured a smooth transition of these economies from the developing stage toward a developed stage. The e-commerce industry already represents 15% of total retail sales across the region. The region continues to be the fastest-growing region. Such above mentioned factors is expected to fuel the growth of logistics automation market in Asia-Pacific. APAC is also expected to be the fastest-growing region in the global logistics automation market during the forecast period.
Europe is a technologically advanced region. The e-commerce and online retail are key drivers for the upsurge in the demand for diverse types of warehouses such as parcel sorting centers, mega fulfillment centers (merchandise storage and pick-up), local parcel delivery centers, return processing centers, dot.com warehouses (fulfillment of online orders), and local delivery centers (for same-day deliveries). The global warehouse and storage market in Europe has grown annually by ~2-3% due to growth in the online retail and e-commerce sector. These factors are contributing to the high growth of the logistics automation market in this region.
The global market for logistics automation market is segmented based on the parameters such as component, mode of freight transport, application, end-user industry, and geography. Based on component, the hardware segment dominates the logistics automation market heavily and is expected to dominate the market in the forecast period from 2019 – 2028. On the basis of mode of freight transport, road segment led the market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. On the basisi of application, the warehouse management segement dominates the logistics automation market. Further, based on end-user industry, retail and e-commerce segment led the market with the maximum market share. Key players operating in the market are partnering with the small as well as large and other companies which are helping them to gain customer traction.
The major companies offering logistics automation market include Beumer Group, Daifuku Co., Ltd., Dematic (KION Group), Honeywell Intelligrated, KNAPP AG, Mecalux, S.A., Murata Machinery, Ltd., Swisslog Holding AG, TGW Logistics Group, and VITRONIC among others. Several other companies are also offering these logistics automationb for various manufacturers, which is facilitating the market to propel over the years.
The research provides answers to the following key questions:
- What is the estimated growth rate of the market for the forecast period 2020–2028? What will be the market size during the estimated period?
- What are the key driving forces responsible for shaping the fate of the Logistics Automation market during the forecast period?
- Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Logistics Automation market?
- What are the prominent market trends influencing the development of the Logistics Automation market across different regions?
- What are the major threats and challenges likely to act as a barrier in the growth of the Logistics Automation market?
- What are the major opportunities the market leaders can rely on to gain success and profitability?
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Logistics Automation market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Logistics Automation market segments and regions.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Logistics Automation market.
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