Continuous Growth in Retail & E-commerce Sector Provide Growth Opportunities for Electronic Signature Software Market
Latest market study on “Logistics Automation Market to 2027 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 2027 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.
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 List of Companies - Global Logistics Automation Market
1. Beumer Group
2. Daifuku Co., Ltd.
3. Dematic (KION Group)
4. Honeywell Intelligrated
5. KNAPP AG
6. Mecalux, S.A.
7. Murata Machinery, Ltd.
8. Swisslog Holding AG
9. TGW Logistics Group
Robotics in Warehouses
With the increasing consumer expectations, the market players are focusing on the investment in IT and operational functions in warehouses. The growing development in the connectivity technology globally, as tech companies make everything from sortation to arranging pallets in the warehouse internet-ready. They are leveraging the latest supply chain technology as well as the Internet of Things (IoT), a “smart warehouse,” which serves as a hub to enhance the efficiency and speed of the supply chain process. From wearables on workers to sensors and smart equipment, internet-enabled devices and technology can profoundly change logistics management. The warehouse management and transport management are proactively adopting logistics automation robots, which automates the process of moving goods and storing across the supply chain operations. The logistics automation robots are integrated across warehouses as well as storage facilities for organizing and transporting the products. These robots also offer enhanced levels of uptime compared to manual labor, which leads to the growth in productivity and profitability of the industry. The prime application of logistics robots is mobile automated guided vehicles (AGVs), are deployed in storage facilities and warehouses for transporting goods. They operate in predefined pathways, for shipping and storing the products in different pallets in the warehouses. AGVs helps in reducing the overall cost of logistics and streamline the supply chain efficiently.
Based on component, the logistics automation market is segmented into hardware, software, and services. The integration of logistics automation components helps in streamlining the overall logistics process, involving warehousing or transportation tasks across the various end-user industries.
Mode of Freight Transport –Based Insights
Based on mode of freight transport, the logistics automation market is segmented into air, road, and sea. Transportation is one of the essential services included in the logistics operations. The efficient transportation involves physically moving deliveries in relatively right condition, at right time, and in a cost-effective manner. The mode of freight transport is the movement of goods from the site of manufacturing or storage to the distribution site.
Based on application, the logistics automation market is segmented into warehouse management and transportation management. This software mainly focuses on the transportation of goods by different modes as well as warehousing management. The companies serve an extensive range of industries by providing innovative software and services to their customers. The highly used outsourced services include warehousing, transportation, freight forwarding, and supply chain, along with several value-added services such as cross-docking, packaging, and shipment consolidation.
Source: The Insight Partners