How Automation is shaping the future of logistics?
The logistics automation market was valued US$ 41.5billion in 2019 and is expected to reach US$ 91.7billion by 2027; it is estimated to grow at a CAGR of 11.5% during 2020–2027.
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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.
Top Key Players:
- Beumer Group
- Daifuku Co., Ltd.
- Dematic (KION Group)
- Honeywell Intelligrated
- KNAPP AG
- Mecalux, S.A.
- Murata Machinery, Ltd.
- Swisslog Holding AG
- TGW Logistics Group
- VITRONIC
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.
The report segments the global logistics automation market as follows:
Global Logistics Automation Market - By Component
- Hardware
- Software
- Services
Global Logistics Automation Market - By Mode of Freight Transport
- Air
- Road
- Sea
Global Logistics Automation Market - By Application
- Warehouse Management
- Transportation Management
Global Logistics Automation Market - By End-user Industry
- Retail and E-Commerce
- Manufacturing
- Oil and Gas
- Food and Beverage
- Automotive
- Healthcare and Pharmaceutical
Source: Premium Market Insights