According to a research report "Logistics Automation Market by Component, Function, Logistics Type (Procurement/Inbound Logistics, Sales/Outbound Logistics) Software Application (Inventory Management, Order Management), Vertical and Region - Global Forecast to 2028" published by MarketsandMarkets, the global logistics automation market size is projected to grow from USD 32.7 billion in 2023 to USD 51.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period. The logistics industry is benefiting from advances in technology, such as robotics, artificial intelligence, and the Internet of Things (IoT) in logistics automation market.
Browse 360 market data Tables and 51 Figures spread through 318 Pages and in-depth TOC on "Logistics Automation Market by Component, Function, Logistics Type (Procurement/Inbound Logistics, Sales/Outbound Logistics) Software Application (Inventory Management, Order Management), Vertical and Region - Global Forecast to 2028"
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By Components, Hardware segment to account for largest market share during the forecast period
Hardware account for largest market share during the forecast period and these systems include hardware segment includes Autonomous Mobile Robots (AMRs), Automated Guided Vehicles (AGVs), Automated Storage and Retrieval Systems (AS/RS), Automated Sorting and Conveyor Systems, De-palletizing/Palletizing Systems, and Automatic Identification and Data Collection (AIDC). AMRs are becoming increasingly popular in warehouses and distribution centers, as they can autonomously move goods around the facility without the need for human intervention. This technology can help to reduce labor costs and increase efficiency.
By Software Application, Shipping management segment to account for largest market share during the forecast period
Shipping management account for largest market share during the forecast period .Shipping management is the process of effectively managing the goods transportation into and out of storage to the warehouse in real time. The warehouse management solution offers an on-demand, web-based solution that helps companies increase order throughput, accuracy, and speed by streamlining the picking and shipping process when the order is received. Inventory levels are automatically updated into the warehouse system after each shipment is sent to ensure accurate, real-time inventory visibility and control.
By Verticals ,Retail and eCommerce segment is expected to grow at the highest CAGR during the forecast period
Retail and eCommerce segment is expected to grow at the highest CAGR during the forecast period.The retail & eCommerce industry has emerged as one of the most dynamic and fast-paced industries, due to the advent of new players, such as Daifuku, Dematic, and Honeywell Intelligrated, offering logistics automation solutions. Technological improvements in logistics management solutions have helped companies in this industry to manage logistics operations, enhance customer satisfaction, increase customer loyalty, and expand market reach. The retail & eCommerce industry faces the challenge of delivering quick, accurate, and undamaged goods to consumers. The need to ensure the timely delivery of products exerts pressure on distributors to ship products in the shortest possible time.
Among regions, North America region is estimated to hold the largest market share in the logistics automation market
North America is expected to hold the largest market share during the forecast period. North America is a global focus on innovation with regards to breakthrough technologies in the logistics automation industry. Companies in North America focus on reducing operational costs and transforming factories, warehouses, and distribution centers, and hence, adopting logistics automation solutions to improve supply chain operations, including the manufacturing, assembly, and transportation of goods.
Key and innovative vendors in the logistics automation market include Dematic (US), Honeywell Intelligrated (US), Daifuku (Japan), Oracle (US), SAP (Germany),IBM(US) ,SSI Schaefer (Germany), Knapp (Austria), Manhattan Associates (US), Swisslog (Switzerland), Blue Yonder (US),Mantis(US),Murata Machinery (Japan), TGW Logistics Group (Austria), Jungheinrich (Germany), System Logistics (Italy), Zebra Technologies (US), ABB (Switzerland), BEUMER Group (Germany),Korber(Germany), O9 Solutions(US), JR Automation(US), Automated Logistics Systems(US),SBS Toshiba Logistics (Japan), SAVOYE(France), Symbotic(US), Locus Robotics(US), GreyOrange (US), Eyesee (Hardis Group) (France), Falcon Autotech (India), Logistically(US),and Logiwa(US).
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