The global Logistics Automation Market is estimated to be valued at US$ 52.7 Bn in 2021 and is expected to exhibit a CAGR of 10.3% over the forecast period 2021-2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Logistics Automation Market refers to the implementation of automated systems and technologies in the logistics and supply chain management processes. These automation solutions help in streamlining and optimizing various tasks such as inventory management, order tracking, warehouse operations, and transportation management. The advantages of logistics automation include reduced operational costs, improved productivity, enhanced efficiency, and better customer service. With the increasing need for efficient supply chain management due to globalization, e-commerce, and rising customer expectations, the adoption of logistics automation solutions is expected to witness significant growth in the coming years.
Market Key Trends:
One of the key trends in the Logistics Automation Market is the adoption of robotics and AI technologies. The integration of robots and artificial intelligence in logistics operations enables faster and more accurate order processing, picking, packing, and sorting. These technologies help in reducing errors, increasing throughput, and improving overall warehouse efficiency. Additionally, the use of robotics and AI enables real-time data analytics and predictive insights, which further optimize supply chain decision-making. The growing demand for automation in order fulfillment, e-commerce logistics, and last-mile delivery is driving the adoption of robotics and AI solutions in the logistics industry. This trend is expected to continue in the forecast period, contributing to the growth of the logistics automation market.
PEST Analysis:
Political: The political factors that could impact the logistics automation market include government regulations and policies related to trade, import/export, and transportation. The stability of the political environment in major economies also plays a significant role in the growth of the market.
Economic: The economic factors influencing the logistics automation market include GDP growth, disposable income, consumer spending, and investment in infrastructure. The market is positively influenced by economic growth, as it leads to increased trade activities and the need for efficient logistics operations.
Social: The social factors impacting the market include changing consumer preferences and expectations, demographic trends, and cultural factors. The rising urbanization and the growing e-commerce sector have fueled the demand for logistics automation.
Technological: The technological advancements in automation, robotics, artificial intelligence (AI), and data analytics have revolutionized the logistics industry. The adoption of advanced technologies has enhanced the efficiency, accuracy, and speed of logistics operations, leading to increased demand for logistics automation solutions.
Key Takeaways:
Market size: The global Logistics Automation Market Share is expected to witness high growth, exhibiting a CAGR of 10.3% over the forecast period (2021-2028). The market size for 2021 is estimated to be US$ 52.7 billion. The market growth can be attributed to the increasing need for streamlining supply chain operations, improving operational efficiency, and reducing labor costs.
Regional analysis: Asia Pacific is anticipated to be the fastest-growing and dominating region in the logistics automation market. The region's rapid economic growth, increasing e-commerce activities, and investments in infrastructure development are driving the demand for logistics automation solutions. North America and Europe are also significant markets for logistics automation due to the presence of established players and increasing adoption of advanced technologies.
Key players: The key players operating in the logistics automation market include ABB, BEUMER GROUP, Blue Yonder Group, Inc., Daifuku Co., Ltd., E&K AUTOMATION LIMITED, Falcon Autotech Private Limited, GreyOrange, HighJump, Infor, Locus Robotics, Manhattan Associates, One Network Enterprises, Oracle, SwanLeap Inc, and Toshiba Logistics. These players are focusing on product innovation, strategic partnerships, and acquisitions to expand their market presence and cater to the growing demand for logistics automation solutions.
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