Meticulous Research® Unveils Comprehensive Report on the Global Logistics Automation Market
Meticulous Research®, a premier global market research firm, has released its latest study on the logistics automation industry, forecasting a significant rise in market value. The report, titled “Global Logistics Automation Market by Offering (Hardware, Software, Services), Type (Inbound, Outbound), Automation Mode, Application (Inventory Management, Others), End User (Retail & E-commerce, Automotive, Others) & Geography – Global Forecast to 2031,” projects the logistics automation market will reach $65.14 billion by 2031, growing at a robust CAGR of 10% from 2024 to 2031.
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Market Drivers and Challenges
The expansion of the logistics automation market is propelled by the rapid growth in e-commerce and the increasing adoption of robotic technologies within logistics operations. However, the sector faces challenges including high capital investment requirements and a lack of standardization, which could temper market growth.
Key growth opportunities are identified in the digital transformation of the logistics industry, advancements in sensor technologies, and the outsourcing of logistics functions. Conversely, the market is hindered by challenges such as the shortage of skilled operators and concerns over privacy and security.
Trends and Segment Insights
A prominent trend in the logistics automation sector is the emphasis on enhancing last-mile deliveries and the growing integration of artificial intelligence in supply chain management.
The report segments the market into hardware, software, and services. The hardware segment is anticipated to dominate in 2024 due to strong e-commerce growth and increased investments in logistics infrastructure. Noteworthy is the deployment of mini-load Automated Storage & Retrieval Systems (ASRS) by Prozo Distribution Private Limited in India, showcasing the sector’s dynamic advancements.
Despite this, the software segment is projected to exhibit the highest CAGR, driven by technological advancements and increased integration capabilities. For example, Amazon Web Services, Inc. recently launched the AWS Supply Chain to enhance supply chain visibility and decision-making.
Segment Analysis
- Type: Inbound logistics is expected to hold a larger market share in 2024 due to comprehensive solutions provided by leading players like Fujitsu Limited. However, outbound logistics is predicted to achieve the highest CAGR, driven by innovations in packaging and order fulfillment.
- Automation Mode: The semi-automatic systems segment is forecasted to dominate due to its cost-effectiveness and adaptability. Fully automatic systems are expected to see the highest growth rate, attributed to their speed and precision.
- Application: The inventory management segment is set to lead the market share in 2024, with notable developments like Swisslog Holding AG’s automation solutions for Walmart Inc. Enhancements in automated storage and retrieval systems are driving this growth, with inventory management projected to have the highest CAGR.
- End User: Retail & e-commerce is projected to command the largest market share in 2024, reflecting increasing omni-channel strategies and automation adoption. The automotive sector is expected to experience the highest CAGR, driven by advancements in logistics technologies and the rise of electric vehicles.
- Geography: Asia-Pacific is forecasted to lead the market in 2024 due to rapid urbanization and industrialization. The region is also anticipated to exhibit the highest CAGR, fueled by growing e-commerce and logistics automation. Examples include Neoperl Group AG’s implementation of Swisslog’s AutoStore system in China.
Key Players
The logistics automation market features key players such as Dematic (U.S.), Daifuku Co., Ltd. (Japan), Honeywell International Inc. (U.S.), Vanderlande Industries B.V. (Netherlands), KNAPP AG (Austria), SSI SCHAEFER Group (Germany), and others. These companies are at the forefront of innovation, driving the evolution of logistics automation technologies.
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