Press release
Logistics Automation Market is projected to grow at a significant CAGR of 10.9% during the forecast period, reaching USD 122.7 billion till 2029 | Size, Share, Trends & Forecast
Logistics Automation Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/logistics-automation-market-analysis-industry-research/
The factors driving growth of the Logistics Automation Market includes increasing number of online delivery platforms around the world, growing focus on enhancing workplace safety and reducing the risk of accidents, rising demand for logistics automation solutions across hospitality, pharmaceutical, and food processing industries and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Internet of Things (IoT), Artificial Intelligence (AI) and Big Data Analytics, increasing popularity of autonomous mobile robots, rise in the launch of new products and rapid urbanization, are some of the additional factors supplementing the Logistics Automation Market size. In addition, the increasing investments by major corporations on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Logistics Automation Market is hindered due to lack of common governance standards.
The prominent players operating in the market are ABB, Blue Yonder, E&K Automation, Manhattan Associates, BEUMER Group, Murata Machinery, Daifuku, Falcon Autotech, Honeywell, TGW Logistics Group, Swisslog, SAP SE, and Locus Robotics, among others.
Based on Function, the Supply Chain Management emerged as the fastest growing segment during the forecast period
Growing adoption of digital platforms for managing supply chain operations, for instance A.P. Moller - Maersk developed digital supply chain management platform named Maersk Flow to help small and medium-sized businesses for managing supply chains.
Based on Component, the Hardware segment is projected to dominate the market over the forecast period
Growing adoption of robots and automated technologies by the food and beverage companies, is propelling Global Logistics Automation Market.
Based on Region, the North American region is anticipated to hold the highest market share during the forecast period
Rapid growth in the e-commerce industry, growing adoption of robotics by major corporations, increase in the launch of innovative products and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.
Key Developments
In 2021, Honeywell partnered with Fetch Robotics, one of the cloud-driven robotic solutions providers. The aim of the partnership is to launch an autonomous mobile robot called PalletTransport1500 for contactless pallet transportation by utilizing Honeywell Intelligrated's Momentum warehouse execution system software.
In 2020, Manhattan Associates developed the world's first cloud-native enterprise-class Manhattan Active Warehouse Management solution. This solution unifies every aspect of distribution with ease of use, new speed, adaptability, and effective distribution management.
In 2020, Dematic introduced the latest version of warehouse automation solution named Dematic Multishuttle (DMS) 2 E.
Market Segmentation
Segmentation by Function
Storage Management
Warehouse
Supply Chain Management
Transportation Management
Segmentation by Component
Hardware
Software
Services
Segmentation by Organization Type
SMES
Large Enterprises
Segmentation by End-user Industry
Food and Beverage
Retail
Chemicals and Pharmaceuticals
Manufacturing
E-Commerce
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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