Report Ocean introduces a fresh report examining the “Logistics Automation Market” encompassing its size, share, growth, industry trends, and forecast up to 2030. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
The global logistics automation market is expected to grow at a compound annual growth rate (CAGR) of 12.6% and will be worth USD 100.1 Billion by 2023.
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Logistics automation has become an essential requirement for companies in recent years, as changes in customer preferences have resulted in the expansion of product categories, making it difficult to handle them within the constraints of existing supply chain practices. Customers’ expectations have also increased, with concepts like last-mile delivery and delivery on-demand becoming common. To improve operational efficiency and remain competitive, companies are opting for logistics automation.
The market is segmented based on components, with the hardware segment expected to hold a market share of more than 50% during the forecast period and grow at a CAGR of 10.7%. Even though most companies prefer hardware products like automated conveyor systems, lift trucks, automated racks, and robotic picking for implementing logistics automation, the need for capital investments is a significant deterrent. As a result, some of them opt for software solutions instead, since they are easy to integrate and are cost-effective. This segment is expected to expand at a significant CAGR of 16.0%, the highest under this categorization. Moreover, as companies try to reduce their capital investments, tasks are likely to be handed over to third-party logistics automation service providers.
The exponential expansion of the e-commerce industry, expectations regarding swifter deliveries, and intense competition among market players are some of the major factors contributing to the growth of the logistics automation market. Thus, the e-commerce and retail segment is expected to be the highest growing end-use industry in terms of logistics automation, expanding at a CAGR of 16.9% during the analysis period. By 2023, this segment is expected to hold a market share of more than 40%.
Logistics automation also finds extensive applications in the food and beverage industry, where the technology is well-suited for accurate product measurements, flawless packaging, and for performing tedious, repetitive tasks in tough environments like freezer warehouses. The online product delivery ecosystem and the growing preference for air transport are also expected to result in a significant increase in the volume of air cargo in the coming years. To cope up, airports around the world are adopting logistics automation to increase their capacities (despite the limited availability of land) and to ensure error-free and safe handling of large volumes of freight.
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Europe and North America are mature markets, which dominated the global logistics automation sector with market shares of 33.6% and 29.2% respectively, in 2018. Most of the key players in the market are based in Europe. The logistics sector contributes significantly to the gross domestic product (GDP) of countries in Europe, making it a viable avenue for investments in automation. The logistics automation market in the Asia-Pacific and the Middle East and Africa regions are expected to exhibit higher growth in comparison to the other regions, owing to increasing investments in this sector and the presence of some significant players.
The report covers companies like ABB, Toyota Industrial Equipment, KION, Jungheinrich, KUKA, Daifuku, Murata Machinery, Beumer Group, KNAPP, and System Logistics.
It provides insights into the competitive landscape of the logistics automation market, including market share analysis, key strategies adopted by market players, and recent developments in the market.
Logistics automation has become a necessity for companies to improve operational efficiency and remain competitive in a fast-changing market. The global logistics automation market is expected to grow significantly, driven by the exponential expansion of the e-commerce industry and the increasing demand for swifter deliveries. Companies are increasingly opting for logistics automation, with the hardware segment expected to hold a market share of more than 50% during the forecast period.
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The report addresses the following key questions regarding the Logistics Automation market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of Logistics Automation in the market?
- How are regulatory policies and government initiatives impacting the growth of the Logistics Automation market?
- What is the market share of the top 5 players in the Logistics Automation market and how is it likely to change in the future?
- What are the latest technologies and innovations in the Logistics Automation market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the Logistics Automation market?
- What are the challenges related to the supply chain and logistics that Logistics Automation market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the Logistics Automation market?
- What are the potential risks and uncertainties associated with investing in the Logistics Automation market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Logistics Automation market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Logistics Automation market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Logistics Automation market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Logistics Automation business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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