Logistics automation involves the application of advanced technologies such as autonomous mobile robots, autonomous trucks, conveyor system, and automated storage and retrieval system to automate warehouse operation and transportation of goods. It assists in streamlining processes, reducing manual efforts, minimizing shipping time, and increasing throughput. The growing e-commerce sector is generating massive volumes of parcel deliveries needing efficient order fulfillment. Moreover, the current labor shortage is compelling logistics companies to incorporate automation solutions. The global Logistics Automation Market is estimated to be valued at US$ 64.12 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for logistics automation is experiencing high growth due to the increasing need for efficiency in logistics operations. Various logistics companies are adopting automated solutions to optimize warehousing tasks, simplify material handling, enhance productivity, reduce shipping time, and ensure error-free operations. For instance, autonomous mobile robots are assisting in palletizing, depalletizing, sorting, picking, and transporting goods within warehouses. Moreover, automated sorting systems and conveyor-based systems are streamlining package and parcel handling at distribution centers. The growing focus toward minimizing operational costs and boosting supply chain efficiency through automation is a major factor driving the Global logistics automation market size.
Segment Analysis
The global logistics automation market is segmented by component, function, end users and region. The hardware segment dominates the market and is expected to maintain its dominance over the forecast period due to high investment in hardware components such as industrial robots, conveyors, automatic sorters, scanners, autonomous mobile robots and others required for logistics automation.
Key Takeaways
The global logistics automation market is expected to witness high growth over the forecast period.
Regional analysis: The Asia Pacific region currently holds the largest share in the global logistics automation market. Rapid industrialization and expansion of e-commerce sector in countries such as China and India have resulted in increasing need for logistics and warehouse automation solutions in the region. Additionally, presence of key players and availability of affordable labor are contributing to the growth of the market. The region is expected to retain its leading position and witness the highest growth during the forecast period due to ongoing technological advancements and increasing investments by major market players.
Key players operating in the logistics automation market are Trigger Point Performance, RumbleRoller, The Original Muscle Roller, LIVEPRO, TheraBand, GoFit, SKLZ, Gaiam, Body Benefits, Corength. Trigger Point Performance is a leading player providing high quality massage tools for athletes.
Get More Insights On This Topic: https://www.newsstatix.com/logistics-automation-market-size-share-analysis-2023-2030/
Logistics Automation Market -OverviewThe mushrooming of e-commerce companies in several regions is estimated to change the automation in logistics market in 2020.
The software reports are formed by Market Research Future, which comprises of market alternatives for advancement.
The upgradation in the supply chain is being undertaken to reduce shipping cost, which will further propel the automation in logistics market.Segmental Analysis The segmental assessment of the automation in logistics market is segmented on the basis of component, organization size, application, end-user and region.
The hardware segment is further segmented into sorting and picking systems, automated guided vehicles, mobile devices, and others.
On the basis of regions, the automation in logistics market has been segmented into Europe, North America, Asia-Pacific, and the rest of the regions.Detailed Regional Analysis The regional study of the automation in logistics market includes regions such as Europe, North America, Asia-Pacific, and the rest of the regions.
The North American region is an early adopter of the technology, which has cemented its position at the vanguard of development in the global market.
