Allied Market Research recently published a report, titled, “Logistics Automation Market by Component (Hardware, Software, Services), by Application (Warehouse and Storage Management, Transportation Management), by Organization Size (Small and Medium Enterprises, Large Enterprises), by End-Use Industry (Manufacturing, Healthcare and Pharmaceuticals, Fast-Moving Consumer Goods, Retail and E-commerce, Automotive, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030″. As per the report, the global logistics automation industry was pegged at $49.70 billion in 2020, and is expected to reach $147.38 billion by 2030, growing at a CAGR of 11.9% from 2021 to 2030.
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Covid-19 scenario:
- The Covid-19 pandemic resulted in workforce changes, restriction on movement of goods, and adoption of automation solution to meet customer demands.
- The prolonged lockdown resulted in disruption in supply chain but online shopping increased significantly during the lockdown.
- With the removal of lockdown restriction, several companies invested in industry 4.0 technologies to deal with labor shortage issue.
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Rise in e-commerce, advancements in robotics technologies, adoption of industry 4.0 technologies, and improved efficiency and workforce safety have boosted the growth of the global logistics automation market. However, high initial investment hinders the market growth. On the contrary, adoption of autonomous vehicles & drones and greater demand for warehouse automation from developing countries are expected to open new opportunities in the future.
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By product, the software segment is estimated to portray the highest CAGR of 12.9% during the forecast period, due to benefits such as shorter processes, increased speed, and high-quality performance. However, the hardware segment held the largest share in 2020, accounting for nearly two-thirds of the global logistics automation market, owing to adoption of efficient automation technologies to control operational logistics costs.
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By region, the global logistics automation market across North America held the largest share in 2020, accounting for more than one-third of the market. This is due to high adoption of automated systems for warehouse & distribution centers and technological advancements. However, the market across Asia-Pacific is expected to register the highest CAGR of 13.4% during the forecast period, owing to rise in e-commerce, surge in adoption of automation solutions such as robotics technology, autonomous mobile robots, and greater need for fast last-mile delivery services.
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Similar Reports We Have on Logistics Industry:
Digital Freight Brokerage Market by Platform (Specialized & Generic Marketplaces, Crowd Shipping Platform, Digital Freight Exchange, Tender Platform), Development (Desktop, Mobile), Transportation Mode {Roadways (Truck, Trailer, Lorry), Seaways, Airways, Railways} End-use (Digital/Virtual Forwarders, Logistics Companies, 3PL): Global Opportunity Analysis and Industry Forecast, 2021–2030.
Digital Freight Forwarding Market by Mode of Transport (Land, Sea, and Air), Function (Warehouse Management and Transportation Management), Vertical (Retail and E Commerce, Manufacturing, Healthcare, Automotive, and Others) and Deployment Mode (Cloud and On Premises): Global Opportunity Analysis and Industry Forecast, 2021–2030.
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