Global Logistics Automation Market, by Component (Hardware, Software, and Services), by Mode of Transportation (Airways, Railways and Roadways, and Seaways), by Vehicle Type (Passenger Vehicle, Low Commercial Vehicle, and High Commercial Vehicle), by Application (ADAS, Infotainment System, Safety and Alerting System, Lightning and Powertrain System, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Global Forecast to 2028, is expected to be valued at US$ 104.7 billion by 2028, exhibiting a CAGR of 10.3% during the forecast period (2021 - 2028), as highlighted in a report published by Coherent Market Insights.
Overview
Automaton is the process of using various types of control systems to run several systems in an organization with minimal human assistance. With advancements in technology and the launch of new systems, many end-use industries such as logistics, manufacturing, retail, and healthcare are adopting automation, to ease their business workflow.
Automation in the logistics sector reduces the overall business cost by reducing shipping delay and number of wrong deliveries. Automation also helps to increase the product handling capacity of an organization. In addition, automatic software can also schedule the shipment of a product in coordination with the freight providers, which can majorly reduce the shipment cost of a consignment.
The global logistics automation market was accounted for US$ 42.9 Bn in terms of value in 2019 and is expected to grow at a CAGR of 10.3% for the period 2021-2028.
Global Logistics Automation Market - Impact of Coronavirus (Covid-19) Pandemic
Global COVID – 19 pandemic has negatively impacted the logistics industry, as the halt in the manufacturing industry has reduced the demand for the logistics; this, further puts pressure on the pricing across warehousing, freight, and logistics department. In addition, globally many countries have imposed lockdowns, which resulted in minimal import-export movements, thus amplifying the crisis in the logistics industry.
The adoption of several emerging technologies such as 3D printing, block chain, internet of things, and autonomous transportation have increased during the COVID-19 pandemic as they help the organizations in logistics industry to remotely manage their organizational activities.
To know the latest trends and insights prevalent in Global Logistics automation Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/logistics-automation-market-4593
Browse 150 market data tables* and 90 figures* on “Global Logistics Automation Market” - global forecast to 2028
Key Trends and Analysis of the Global Logistics Automation Market:
- Among end-use industries, the retail and e-commerce segment is expected to grow with the highest CAGR over the forecast period. Logistics plays a key role in the retail industry, furthermore, logistics automation solutions can help retailers and freight movers to track and monitor the movement of light good vehicles and heavy good vehicles, along with live tracking of parcels, which can further help in the timely delivery of products.
In addition, the retail market has undergone a major transformation in the last few years. Therefore, the growing retail industry and the increasing demand for cost-effective transportation of goods is expected to propel the demand for the logistics automation market over the forecast period. For instance, according to Invest India, India’s e-commerce retail market is expected to grow with a CAGR of 30% and is expected to reach up to US$ 200 Bn by the year 2026.
- The global logistics automation market is expected to grow with a significant growth rate over the forecast period (2021 – 2028) in the Asia Pacific region, which is expected to grow with the highest CAGR over the forecast period. The growth in the Asia Pacific region is majorly attributed to the presence of growing economies in the region such as India, China, Taiwan, etc., owing to the growing e-commerce, retail industry, and the increasing investments in the logistics automation industry in the region. For instance, in May 2017, WiseTech Global, an industry-leading global logistics execution solution provider, and CargoWise, a solution provider for logistics industry, partnered with UPS in the Asia Pacific region, to boost the technological innovations in automation across the logistics industry, this is expected to boost the logistics automation market over the forecast period.
Competitive Section
Major companies operating in the global 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
Segmentation
Market Taxonomy:
- By Component
- Hardware
- Software
- Services
- By Mode of Transportation
- Airways
- Railways and Roadways
- Seaways
- By Enterprise Size
- SME
- Large Enterprises
- By Application
- Warehouse and Storage Management
- Transportation Management
- By End-use Industries
- Manufacturing
- Healthcare and Pharmaceuticals
- Fast-Moving Consumer Goods (FMCG)
- Retail and e-Commerce
- Aerospace and Defense
- Oil, Gas, and Energy
- Chemicals
- Others (paper & printing and textiles & clothing)
- By Region
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East and Africa
