Logistics Automation Market Size to Grow USD 147.4 Billion by 2030 at a CAGR of 11.9% | Valuates Reports
BANGALORE, India, May 7, 2024 /PRNewswire/ -- Logistics Automation Market is Segmented by Component (Hardware, Software, Services), by Application (Warehouse and Storage Management, Transportation Management), by End-Use Industry(Manufacturing, Healthcare and Pharmaceuticals, Fast-Moving Consumer Goods, Retail and E-commerce, Automotive, Others): Global Opportunity Analysis and Industry Forecast, 2024-2030.
The global logistics automation market was valued at USD 49.7 Billion in 2020, and is projected to reach USD 147.4 Billion by 2030, growing at a CAGR of 11.9% from 2021 to 2030.
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Major Factors Driving the Growth of Logistics Automation Market
The market for logistics automation is expanding rapidly, driven mainly by the growing need to optimize operations, boost productivity, and save expenses in the supply chain. Traditional logistics procedures are being revolutionized by factors including the quick improvements in technology, especially in the areas of robots, artificial intelligence, and data analytics. Furthermore, the necessity for real-time tracking and visibility, the growing complexity of international trade, and the rise in e-commerce activities are all pushing the use of logistics automation systems.
Furthermore, a major factor driving market development is the persistent trend towards warehouse automation, which is being driven by labor shortages and the need for speedier order fulfillment. The strategic necessity of establishing agility and scalability in logistics operations is highlighted by the integration of automation technology, as businesses struggle to stay competitive in a constantly changing market.
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TRENDS INFLUENCING THE GROWTH OF LOGISTICS AUTOMATION MARKET
In the industrial industry, accuracy and efficiency are critical. Streamlining procedures from order fulfillment to inventory management using logistics automation lowers mistakes and boosts output. Complex processes like inventory management, replenishing assembly lines, and packing may be handled by automated systems, which helps businesses effectively adjust to variations in demand. The pursuit of lean operations and just-in-time manufacturing by firms has made logistics automation crucial for streamlining supply chain procedures and preserving competitive edge.
Adoption of logistics automation is fueled by strict safety and compliance rules in the pharmaceutical and healthcare industries. By ensuring precise tracking and traceability of delicate goods like pharmaceuticals and medical equipment, automated solutions reduce the possibility of mistakes or contamination. These technologies, which range from automated medicine delivery to temperature-controlled storage, improve operational efficiency while enhancing patient safety and regulatory compliance. Automation of logistics is now necessary to provide a safe and dependable supply chain in the healthcare sector due to rising demand and regulatory requirements. In order to satisfy customer needs, the fast-moving consumer goods (FMCG) industry depends on speed and scalability. FMCG firms may effectively manage inventory, maximize order fulfillment, and expedite delivery times with the help of logistics automation.
Agile and effective logistics operations are necessary in retail and e-commerce to fulfill omnichannel expectations. Retailers can optimize order fulfillment and inventory visibility while integrating online and offline sales channels with ease thanks to automated warehouse management systems (WMS) and transportation management systems (TMS). Retailers may improve customer happiness and loyalty by automating processes like order routing, inventory restocking, and last-mile delivery scheduling. Logistics automation becomes a strategic necessity for merchants looking to remain competitive in a changing market scenario as e-commerce expands and changes.
The foundation of logistics automation is warehouse and storage management, which provides accuracy and efficiency in inventory handling and fulfillment procedures. Robotics, RFID, and Internet of Things sensors are just a few of the technologies that automated warehouse systems use to maximize storage space utilization, lower picking mistakes, and improve inventory visibility. Automation helps firms increase order accuracy, reduce labor expenses, and simplify operations by handling processes like inventory selection, counting, and restocking. As warehouses transform into sophisticated distribution hubs, logistics automation becomes essential to fulfilling the ever-increasing needs of contemporary supply chains.
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LOGISTICS AUTOMATION MARKET SHARE ANALYSIS:
Software is anticipated to be the most profitable industry.
Between 2021 and 2030, Asia-Pacific would have the highest CAGR of 13.4%.
The most profitable market sector is expected to be small and medium-sized businesses.
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Key Players:
- Beumer Group GmbH & Co KG
- Daifuku
- Honeywell International Inc
- Jungheinrich AG
- Kion Group AG
- Knapp AG
- Mecalux
- Murata Machinery; Ltd.
- SSI Schaefer Group
- TGW Logistics Group GmbH
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