Categories: Food & Beverages

Logistics Automation Market Size and Value Projections

The Logistics Automation Global Market Report 2023 by The Business Research Company, provides logistics automation market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Logistics Automation Global Market Report 2023, the market size is expected to grow from $55.22 billion in 2022 to $63.37 billion in 2023 at a compound annual growth rate (CAGR) of 14.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the logistics automation is expected to grow to $101.26 billion in 2027 at a CAGR of 12.4%.

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.

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The logistics automation market is segmented:

1) By Component: Hardware, Software, Services

2) By Function: Warehouse and Storage Management, Transportation Management

3) By Organization Size: Small-Medium Size Organizations, Large Scale Organization

4) By End-User: Retail and E-Commerce, Automotive, Food and Beverage, Logistics and Transportation, Other End Users

Technological innovations have emerged as the key trend gaining popularity in the logistics automation market. Major companies operating in the logistics automation market are introducing technological innovations to reinforce their position in the market. For instance, in March 2020, Dematic, a US-based company that manufactures logistics automation and materials handling systems, launched the latest generation of warehouse automation solutions called Multishuttle (DMS) 2E. This system helps to control all logistics processes in the warehouse, as well as order picking and dispatch. The DMS-2E significantly increases speed, storage density, and accuracy and shows the availability of stock in warehouses and distribution centers.

The logistics automation market report table of contents includes: