Pune, August 29, 2024 (GLOBE NEWSWIRE) — Logistics Automation Market Size Analysis:
“THE Logistics Automation Marketvalued at USD 33.32 billion in 2023, is expected to reach USD 91.58 billion by 2032, growing at a CAGR of 11.93% over the forecast period 2024 to 2032.»
The logistics automation market is witnessing a boom driven by the increasing demand for efficiency and precision in supply chain operations. With the rapid rise of e-commerce, businesses are under pressure to deliver their products faster and more accurately, leading to the adoption of automated logistics solutions. These technologies not only streamline the supply chain but also reduce operational costs, improve inventory management and improve overall productivity.
The integration of advanced technologies such as artificial intelligence (AI), Internet of Things (IoT), and robotics is further fueling the market expansion. However, challenges such as high initial investment costs and complexity of integrating these systems with existing infrastructure may hamper the market growth to some extent. Nonetheless, ongoing innovations and increasing adoption across various sectors including retail, e-commerce, and healthcare are expected to provide significant growth opportunities to the market in the coming years.
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Analysis of key players listed in this report:
- Murata Machinery, Ltd.
- Honeywell International Inc.
- Jungheinrich AG
- Daifuku Co., Ltd.
- SSI Schäfer Group
- Knapp SA
- Mecalux, SA
- Kion Group AG
- TGW Logistics Group GmbH
- Beumer Group GmbH & Co. KG
- Dématique Corp.
Logistics Automation Market Scope of the report:
| Report attributes | Details |
| Market size in 2023 | 33.32 billion US dollars |
| Market size by 2032 | 91.58 billion US dollars |
| CAGR | CAGR of 11.93% from 2024 to 2032 |
| Reference year | 2023 |
| Forecast period | 2024-2032 |
| Historical data | 2020-2022 |
| Key regional coverage | North America (United States, Canada, Mexico), Europe (Eastern Europe (Poland, Romania, Hungary, Turkey, rest of Eastern Europe) Western Europe) Germany, France, Kingdom -United Kingdom, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe (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) |
| Main growth drivers | •The cost of implementing automation technologies can be significant, which is a barrier for small businesses.
•There is a lack of trained professionals to manage and operate advanced automation systems. •Lack of uniform regulatory guidelines. •Integrating automation systems into existing infrastructure and processes can be difficult and disruptive. |
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Hardware dominated the logistics automation market in 2023; Software segment poised 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 materials handling and inventory management. ASRS systems, including storage racks, I/O systems, S/R equipment and IT management systems, have become indispensable in large-scale warehouses and distribution centers, significantly improving efficiency storage and retrieval accuracy.
The software segment is expected 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, resulting in increased efficiency and reduced operational costs. As businesses increasingly prioritize digital transformation, the demand for robust software solutions such as WMS is expected to increase, driving the overall growth of the software segment.
Logistics Automation Market Key segmentation:
By component
- Material
- Autonomous robots (AGV, AMR)
- Automated storage and retrieval systems (AS/RS)
- Automated sorting systems
- Depalletizing/palletizing systems
- Conveyor Systems
- Automatic Identification and Data Collection (AIDC)
- Software
- Warehouse Management System
- Transportation Management System
- Services
- Consultant
- Deployment and integration
- Support and maintenance
- By function
- Inventory and storage management
- Transportation management
By type
- Sales logistics
- Production logistics
- Recovery logistics
- Procurement logistics
By application
- Inventory management
- Order management
- Yard management
- Shipping management
- Work management
- Supplier management
- Customer service
- Others
By vertical
- Retail and e-commerce
- Health care
- Automotive
- Aerospace and defense
- Electronics and semiconductors
- Others
Regional analysis
Dominant region: North America
North America dominated the logistics automation market in 2023, driven by early adoption of advanced technologies and strong focus on improving 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 across the region are increasingly deploying automation technologies to streamline operations, reduce costs and improve customer satisfaction. Additionally, the implementation of strict 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 expansion of the e-commerce sector. Countries such as China, India and Japan are seeing substantial investments in logistics infrastructure, driven by the need to meet the growing demand for faster and more reliable delivery services. The growing focus on improving 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 the market growth in the Asia Pacific region.
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Recent developments
- August 2023: Honeywell International Inc. has launched its new intelligent flexible depalletizer, designed to automate the task of unloading products from pallets, thereby reducing manual labor and increasing warehouse efficiency.
- June 2023: KION Group SA announced the expansion of its robotics portfolio with the launch of new autonomous mobile robots (AMR) for material handling, improving the flexibility of logistics operations.
- May 2023: Toyota Material Handling has unveiled its latest automated guided vehicles (AGVs) designed for heavy-duty logistics tasks, providing improved 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 $91.58 billion by 2032.
- Hardware components, including ASRS, dominated the market in 2023, while software solutions, including WMS, are expected to witness the fastest growth.
- North America dominated the market in 2023, driven by early adoption of technologies, while Asia Pacific is expected to be the fastest growing region due to rapid industrialization and expansion of electronic commerce.
- Recent market developments highlight continued innovation and expansion of product portfolios by leading industry players, ensuring continued growth and adoption of logistics automation solutions globally.
Table of Contents – Main Key Points
1. Introduction
2. Summary
3. Research methodology
4. Market Dynamics Impact Analysis
5. Statistical overviews 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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