Logistics Automation Market to hit $121,343.3 Million, Globally, by 2027 at 14.3% CAGR: The Insight Partners

According to the new research report published by The Insight Partners, titled "Logistics Automation Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Component (Hardware, Software, and Services); Application (Warehouse Management and Transportation Management); Mode of Freight Transport (Air, Road, and Sea); End-User Industry (Retail and E-Commerce, Manufacturing, Oil and Gas, Food and Beverage, Automotive, Healthcare and Pharmaceutical, and Others), and Geography", The global logistics automation market report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

The Logistics Automation Market was valued at $39,286.3 Mn in 2018 and is projected to reach $121,343.3 Mn by 2027; it is expected to grow at a CAGR of 14.3% from 2019 to 2027.

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Europe is a technologically advanced region. E-commerce and online retail are key drivers for the upsurge in the demand for diverse types of warehouses such as parcel sorting centers, mega fulfillment centers (merchandise storage and pick-up), local parcel delivery centers, return processing centers, dot.com warehouses (fulfillment of online orders), and local delivery centers (for same-day deliveries). The global warehouse and storage market in Europe has grown annually by ~2-3% due to growth in the online retail and e-commerce sector. These factors are contributing to the high growth of the logistics automation market in this region.

In Asia-Pacific, Rapid digitalization and developments in the economy, increasing education awareness, adequate government support, and rising incomes of the middle class are among the attributable factors that have ensured a smooth transition of these economies from the developing stage toward a developed stage. The e-commerce industry already represents 15% of total retail sales across the region. The region continues to be the fastest-growing region. Such above-mentioned factors is expected to fuel the growth of the logistics automation market in Asia-Pacific. APAC is also expected to be the fastest-growing region in the global logistics automation market during the forecast period.

Growing advancement in technology has encouraged the increasing adoption of robots in various industries. Logistics automation is becoming essential for retailers owing to growing retail & e-commerce sectors worldwide. Market players are trying to achieve omnichannel and online strategies. Thus, logistics automation is necessary for retailers. The logistics automation ensures the management of the inventory, tracking, reporting and forecasting, packaging, transportation of goods, and warehouse management. The constant growth in the retail & e-commerce sector is expected to create new opportunities for the global logistics automation market during the forecasted period.

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Europe is a technologically advanced region. E-commerce and online retail are key drivers for the upsurge in the demand for diverse types of warehouses such as parcel sorting centers, mega fulfillment centers (merchandise storage and pick-up), local parcel delivery centers, return processing centers, dot.com warehouses (fulfillment of online orders), and local delivery centers (for same-day deliveries). The global warehouse and storage market in Europe has grown annually by ~2-3% due to growth in the online retail and e-commerce sector. These factors are contributing to the high growth of the logistics automation market in this region.

Growing Adoption of Industrial 4.0 across the Manufacturing Industry

The manufacturing sector is increasing globally; as per the China Federation of Logistics and Purchasing (CFLP), the global manufacturing purchasing managers' index (PMI) accounted for approximately 50% in August 2019, which was down from 51.3 in August 2018. This signifies a robust recovery of the manufacturing sector across the developed countries, growing industrial advancement in the developing economies as well as the escalation of commodities prices on the global market. Thus, the expansion of the manufacturing industry due to the adoption of technologically advanced solutions, results in the enhancement of the plant productivity, gaining competitive advantage, and maintaining the edge with the customers. The manufacturers of various products face huge competition with other market players on account of quality, costs, service, and time taken for the overall process.

Logistics Automation Application-Based Market Insights

The storage and shipping of goods from the point of origin supplier to intermediate and finally to end-users in the different locations are all managed by the logistics automation software. This software mainly focuses on the transportation of goods by different modes as well as warehousing management. The companies serve an extensive range of industries by providing innovative software and services to their customers. The highly used outsourced services include warehousing, transportation, freight forwarding, and supply chain, along with several value-added services such as cross-docking, packaging, and shipment consolidation. Based on application, the global logistics automation market is categorized into warehouse management and transportation management.

Logistics Automation Market: Competitive Landscape and Key Developments

Beumer Group, Daifuku Co., Ltd., Dematic (KION Group), Honeywell Intelligrated, KNAPP AG, Mecalux, S.A., Murata Machinery, Ltd., Swisslog Holding AG, TGW Logistics Group, and VITRONIC are among the key players in the global Logistics Automation market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2019, Honeywell announced the creation of Honeywell Robotics to help shape the warehouse and distribution center of the future, particularly for companies looking for automated solutions, software, and robotics to deliver increased speed, accuracy, and throughput in complex material handling environments.

In 2019, Daifuku Co., Ltd. announced the acquisition of India-based Vega Conveyors & Automation Private Limited. Vega offers consulting, design, manufacture, installation, and after-sales service of conveyors and other material handling equipment within its domestic Indian market.

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