by The global Logistics Automation Market is estimated to be valued at US$ 64.12 Bn or Mn in 2023 and is expected to exhibit a CAGR of 11.41%over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Logistics automation products include warehouse execution systems, material handling equipment, automated systems, automated storage and retrieval system, automated guided vehicles, and others. Logistics automation helps to minimize costs, enhance productivity, and improve the overall supply chain efficiency.
Market key trends:
One of the key trends in the logistics automation market is the growing adoption of cloud-based warehouse management systems. Cloud-based WMS offers flexibility, scalability, lower upfront costs and easy maintenance. It allows real-time inventory visibility and multi-location management. Cloud-based WMS are widely being used by third-party logistics, e-commerce and manufacturing companies to optimize warehouse operations. Furthermore, increasing focus on autonomous material handling is another major trend as companies are rapidly adopting automated guided vehicles and robotics to reduce labor costs and improve productivity and efficiency of material handling processes.
SWOT Analysis
Strength: Automation enhances supply chain productivity and reduces errors. It improves operational efficiency by optimizing workflows.
Weakness: High initial investment costs. Lack of skilled workforce to operate advanced automated solutions.
Opportunity: Growing e-commerce industry is creating demand for automation in order picking, packaging, and shipping. Technology advancement in robotics, AI, and IoT enables new opportunities.
Threats: Trade protectionism and political instability affects global supply chains. Growing job losses concern due to increased automation adoption.
Key Takeaways
The Global Logistics Automation Market Size is expected to witness high growth, exhibiting CAGR of 11.41%over the forecast period, due to increasing demand for optimized supply chain operations and warehouse automation.
Regional analysis: North America dominates the logistics automation market currently due to strong economic conditions and early adoption of technology. Asia Pacific is expected to grow at the fastest pace due to growing e-commerce industry and manufacturing activities in countries such as China, India. China is expected to dominate the regional market owing to government initiatives to strengthen infrastructure.
Key players: Key players operating in the logistics automation market are 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. Players are investing in automation technologies to develop advanced solutions and strengthen their product portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
