The Logistics Automation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Logistics Automation Global Market Report 2024, The logistics automation market size has grown rapidly in recent years. It will grow from $60.7 billion in 2023 to $68.08 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to cost reduction, demand for efficiency, e-commerce growth, globalization, customer expectations, sustainability concerns.
The logistics automation market size is expected to see rapid growth in the next few years. It will grow to $109.51 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to autonomous vehicles, warehouse robotics, robotic process automation (RPA), customization and flexibility, collaborative robotics (Cobots). Major trends in the forecast period include blockchain technology, artificial intelligence (AI) integration, technological advancements, autonomous vehicles and drones, robotics in warehousing.
The growth of the e-commerce industry is expected to propel the growth of the logistics automation market going forward. Ecommerce refers to the buying and selling of goods and services with the help of the Internet. Logistics automation is used by the e-commerce industry to maintain its stock in warehouses and distribution centers. This helps in the easy handling of goods between different departments in the company. For instance, in February 2022, according to Forbes, a US-based business magazine, during the time of the pandemic, e-commerce sales grew by 50%, and the business of eCommerce during this time stood at $870 billion. Therefore, the growth of the e-commerce industry is driving the logistics automation market growth.
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The logistics automation market covered in this report is segmented –
1) Logistics Automation Market By Component: Hardware, Software, Services
2) Logistics Automation Market By Function: Warehouse and Storage Management, Transportation Management
3) Logistics Automation Market By Organization Size: Small-Medium Size Organizations, Large Scale Organization
4) Logistics Automation Market By End-User: Retail and E-Commerce, Automotive, Food and Beverage, Logistics and Transportation, Other End Users
Top Major Players
Oracle Corporation
ABB Ltd.
Toshiba Logistics Corporation
Murata Manufacturing Co Ltd.
Kion Group AG
Major companies operating in the logistics automation market are focused on developing innovative solutions such as full-service digital solution to automate the transportation and logistics industries. A full-service digital solution refers to a comprehensive package of digital services designed to address a specific business need or challenge, from initial strategy and planning to execution and ongoing maintenance. For instance, in May 2022, Imaginnovate, a US-based digital solution company supporting the freight transportation and logistics industries, launched Logistics Studio. The studio builds technology solutions, develops a roadmap that is in line with business objectives, provides creative solutions to business challenges in the transportation and logistics sector, and offers support through specialized teams that function as an extension of an organization’s internal technology staff. A primary characteristic of Logistics Studio is the creation of an automated pricing engine that utilizes current rate data to deliver real-time rate information for specific freight corridors.
The logistics automation market report table of contents includes:
1. Executive Summary
2. Logistics Automation Market Characteristics
3. Logistics Automation Market Trends And Strategies
4. Logistics Automation Market – Macro Economic Scenario
5. Global Logistics Automation Market Size and Growth
…..
32. Global Logistics Automation Market Competitive Benchmarking
33. Global Logistics Automation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Logistics Automation Market
35. Logistics Automation Market Future Outlook and Potential Analysis
36. Appendix
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