Press release
Logistics Automation Market Poised to Soar to $65.14 Billion by 2031
The report indicates that the logistics automation market is poised to achieve a valuation of $65.14 billion by 2031, exhibiting a robust CAGR of 10% from 2024 to 2031. This growth is attributed to the escalating influence of e-commerce and the augmented integration of robots in logistics. However, challenges like high capital investment requirements and a lack of standardization within the logistics sector hinder market growth.
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The logistics industry's ongoing digital transformation, advancements in sensor technologies, and the outsourcing of logistics services are anticipated to present lucrative opportunities for market stakeholders. Nonetheless, obstacles such as the scarcity of skilled operators and concerns related to privacy and security pose substantial challenges to market expansion.
Furthermore, the report identifies the growing emphasis on enhancing last-mile deliveries and the increasing integration of AI in supply chain and logistics management as noteworthy trends in the logistics automation market.
To gain more insights into the market with a detailed table of content and figures, click here https://www.meticulousresearch.com/product/logistics-automation-market-5801
The global logistics automation market is segmented based on offering, type, automation mode, application, and end user. The hardware segment is projected to hold the largest market share in 2024, driven by the surge in e-commerce, evolving consumer behavior, and significant investments in logistics facilities. Meanwhile, the software segment is expected to register the highest CAGR during the forecast period due to increasing focus on developing and enhancing logistics software.
In terms of type, the inbound logistics segment is predicted to dominate the market in 2024, emphasizing the comprehensive inbound logistics solutions provided by key players. On the other hand, the outbound logistics segment is poised to exhibit the highest CAGR, reflecting the growing focus on developing automated solutions for optimizing packaging and order fulfillment processes.
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Regarding automation mode, semi-automatic systems are anticipated to account for a larger market share in 2024, primarily due to the growing focus on providing semi-automatic systems for facilities running manual operations. However, fully automatic systems are expected to witness the highest CAGR during the forecast period, driven by enterprises' increasing emphasis on fully automating their logistics operations.
Inventory management is projected to be the dominant application segment in 2024, fueled by the growing need to optimize inventory levels and the increasing adoption of logistics automation systems for inventory management. Moreover, the inventory management segment is expected to record the highest CAGR during the forecast period.
The retail & e-commerce segment is poised to hold the largest market share among end users in 2024, driven by changing customer expectations and the growing deployment of logistics automation solutions among retail & e-commerce companies. Conversely, the automotive segment is expected to witness the highest CAGR, attributed to the adoption of intralogistics equipment and automation technologies by automotive players.
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Geographically, Asia-Pacific is set to dominate the global logistics automation market in 2024, driven by rapid urbanization, industrialization, and the increasing adoption of logistic automation systems to enhance fulfillment and distribution centers' efficiency. Additionally, Asia-Pacific is projected to witness the highest CAGR during the forecast period, supported by companies' focus on enhancing their omnichannel presence and the rising demand for automation solutions in warehouses.
Key players operating in the logistics automation market include Dematic, Daifuku Co., Ltd., Honeywell International Inc., Vanderlande Industries B.V., KNAPP AG, SSI SCHAEFER Group, BEUMER Group GmbH & Co. KG, Konecranes Plc, FORTNA Inc., Oracle Corporation, SAP SE, TGW Logistics Group GmbH, Swisslog Holding AG, Slip Robotics, and Locus Robotics.
For more in-depth insights and a detailed analysis of the logistics automation market, the complete research report is available for reference.
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