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Global Logistics Automation Market, Projecting Market Size to Reach $65.14 Billion by 2031

08-27-2024 07:46 AM CET | Logistics & Transport

Press release from: Meticulous Research®

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Global Logistics Automation Market, Projecting Market Size

Meticulous Research®, a renowned global market intelligence firm, has published a comprehensive report titled, "Global Logistics Automation Market by Offering (Hardware, Software, Services), Type (Inbound, Outbound), Automation Mode, Application (Inventory Management, Others), End User (Retail & E-commerce, Automotive, Others) & Geography - Global Forecast to 2031." The report provides critical insights into the burgeoning logistics automation market, forecasting its expansion to $65.14 billion by 2031, growing at a compound annual growth rate (CAGR) of 10% between 2024 and 2031.

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Market Growth Catalysts: E-commerce Boom and Robotics Integration
The logistics automation market's robust growth trajectory is largely driven by the exponential rise in e-commerce activities and the increasing adoption of robotics across supply chains. The acceleration in online shopping trends has necessitated more efficient logistics operations, compelling companies to invest in advanced automation technologies. This surge in demand for streamlined logistics processes is further augmented by the growing utilization of robotics, which enhances operational efficiency, reduces human error, and accelerates order fulfillment.

Despite the promising outlook, the market faces certain challenges. High capital expenditure requirements and the lack of standardized logistics protocols pose significant barriers to market entry and expansion. Additionally, the industry grapples with a shortage of skilled operators and ongoing concerns related to privacy and security, particularly in the context of digital transformation and automation.

Opportunities and Emerging Trends: Digital Transformation and AI Integration
The digital revolution within the logistics sector presents considerable growth opportunities for market players. Innovations in sensor technologies and the increasing outsourcing of logistics functions are expected to offer new avenues for market expansion. The industry is also witnessing a heightened focus on enhancing last-mile delivery solutions-a critical component in the logistics chain that directly impacts customer satisfaction.

Moreover, the integration of artificial intelligence (AI) into supply chain management is rapidly emerging as a transformative trend. AI-driven solutions are enabling more efficient route planning, predictive maintenance of logistics equipment, and real-time inventory tracking. These advancements are poised to redefine the logistics landscape, offering substantial benefits such as cost reductions, enhanced decision-making capabilities, and improved supply chain visibility.

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Segment Analysis: Hardware Dominates, Software Leads in Growth Potential
The report segments the global logistics automation market by offering into hardware, software, and services. In 2024, the hardware segment is anticipated to command the largest share of the market. This dominance is attributed to several factors, including the surge in e-commerce activities, shifting consumer behavior, and substantial investments in logistics facilities aimed at optimizing operational efficiency. The deployment of robotics and automated systems across various supply chain operations is also a key driver for this segment's growth.

For instance, in February 2022, Prozo Distribution Private Limited (Prozo), a rapidly expanding Indian supply chain company, implemented a mini-load Automated Storage & Retrieval System (ASRS) in partnership with Craftsman Automation Limited. This strategic deployment in Karnataka underscores the growing trend of adopting advanced automated solutions to enhance logistics efficiency.

However, the software segment is expected to outpace hardware in terms of growth, registering the highest CAGR during the forecast period. The increasing integration of advanced technologies into logistics software solutions, coupled with a focus on product development by key market players, is driving this segment's expansion. The ease of integrating logistics automation software with other supply chain management systems further amplifies its growth potential.

In a noteworthy development, Amazon Web Services (AWS) launched its AWS Supply Chain application in November 2022. This innovative solution aims to enhance supply chain visibility, enabling businesses to make faster, data-driven decisions that mitigate risks, reduce costs, and improve customer experiences.

Type and Automation Mode: Inbound Logistics Leads, Fully Automated Systems Surge
The market is also segmented by type into inbound and outbound logistics. The inbound logistics segment is expected to hold the largest market share in 2024, driven by comprehensive inbound logistics solutions offered by key industry players. The increasing adoption of advanced equipment and facilities to streamline core logistics processes further supports this segment's dominance.

For example, Fujitsu Limited, in collaboration with One Network Enterprises, offers a fully integrated inbound logistics solution that seamlessly manages multiple real-time processes and securely shares information across the supply chain. This holistic approach is revolutionizing inbound logistics, enhancing operational efficiency and cost-effectiveness.

Conversely, the outbound logistics segment is poised for rapid growth, with the highest CAGR anticipated during the forecast period. The increasing emphasis on developing automated solutions to optimize packaging and order fulfillment processes is a key factor driving this segment's growth. The growing need to enhance the efficiency of delivery and shipment operations is also contributing to the segment's expansion.

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In terms of automation mode, the market is categorized into fully automatic and semi-automatic systems. While semi-automatic systems are expected to dominate the market in 2024, fully automatic systems are projected to exhibit the highest growth rate during the forecast period. The shift from semi-automated to fully automated systems is being driven by the need for faster, more precise, and adaptable logistics operations. Fully automated systems offer significant advantages, including increased speed, accuracy, and the ability to operate continuously without human intervention.

Application Segmentation: Inventory Management Takes Center Stage
The global logistics automation market is further segmented by application into inventory management, packaging, order management, cargo management, transportation management, and others. Inventory management is expected to account for the largest share of the market in 2024, propelled by the growing need for enterprises to optimize inventory levels and enhance operational efficiency. The adoption of ASRS systems among retailers to automate inventory tracking and stock level updates is a key contributor to this segment's growth.

For instance, Walmart Inc. announced in November 2023 that it would be installing a Swisslog automation solution at its Valdosta, GA facility. This strategic move is aimed at enabling seamless material flow and increasing system uptime, thereby improving inventory management and operational efficiency.

Moreover, the inventory management segment is expected to witness the highest CAGR during the forecast period. The increasing implementation of automated storage and retrieval systems, along with the growing adoption of RFID and barcode technologies for inventory tracking, are key drivers of this segment's rapid growth.

End User Analysis: Retail & E-commerce Lead, Automotive Shows Promising Growth
The end-user segmentation of the logistics automation market includes retail & e-commerce, manufacturing, healthcare & pharmaceuticals, food & beverage, automotive, aerospace & defense, fashion & apparel, courier, express, and parcel, ports & warehouses, and others. In 2024, the retail & e-commerce segment is expected to capture the largest market share. The segment's dominance is driven by changing customer expectations, the growing importance of omni-channel retailing, and the increasing deployment of logistics automation solutions to enhance operational productivity and profitability.

For example, Dematic completed the commissioning of an advanced automation project for Bünting SCM/Logistik GmbH & Co. KG at its new logistics center in Nortmoor, Germany. The centerpiece of this project is the Dematic Multishuttle, an innovative solution that optimizes space utilization and increases storage density, thereby enhancing the efficiency of logistics operations.

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On the other hand, the automotive segment is projected to register the highest CAGR during the forecast period. The segment's growth is fueled by the adoption of intralogistics equipment and automation technologies within the automotive industry, particularly in response to the growing demand for electric vehicles. The efficient tracking of automotive parts across the supply chain and the industry's increasing focus on digitalization are also key factors contributing to this segment's expansion.

A notable example is Jaguar Land Rover Automotive's (JLR) collaboration with Dematic to develop a new logistics operations center in the West Midlands, England. This project highlights the automotive industry's commitment to leveraging automation technologies to enhance logistics efficiency and operational effectiveness.

Regional Insights: Asia-Pacific Takes the Lead
Geographically, the logistics automation market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to account for the largest share of the global logistics automation market in 2024. The region's dominance is attributed to rapid urbanization and industrialization, the rising expectations of fast deliveries, and the increasing adoption of logistics automation systems to improve the efficiency of fulfillment and distribution centers.

For example, Neoperl Group AG, a global leader in manufacturing water-saving devices, implemented the Swisslog AutoStore solution at its facility in China. This automation system's modular design, high-density storage, and flexible robotics capabilities have significantly enhanced Neoperl's operational efficiency.

Moreover, the Asia-Pacific region is anticipated to register the highest CAGR during the forecast period, driven by companies' growing focus on enhancing their omni-channel presence and increasing logistics automation across the region. The demand for automation solutions in warehouses, aimed at achieving faster and more flexible goods movement, is also a significant factor driving the market's growth in this region.

In December 2021, Rhenus Group Hong Kong partnered with Geekplus Technology Co., Ltd. to co-develop smart logistics solutions by automating warehousing operations with autonomous mobile robots (AMRs). This collaboration highlights the region's commitment to leveraging cutting-edge technologies to enhance logistics efficiency.

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Key Market Players
The logistics automation market is characterized by intense competition, with several key players driving innovation and market growth. Some of the prominent companies operating in this market include:

Dematic (U.S.): A leader in automated material handling and logistics automation, providing innovative solutions for warehousing and distribution.

Daifuku Co., Ltd. (Japan): A global provider of material handling systems and logistics automation solutions, known for its advanced technology and operational expertise.

Honeywell International Inc. (U.S.): A multinational conglomerate offering a wide range of logistics automation products and services, including robotics, software, and sensors.

Vanderlande Industries B.V. (Netherlands): A leading supplier of automated material handling systems and logistics automation solutions, specializing in warehousing, airports, and parcel sectors.

KNAPP AG (Austria): A provider of innovative logistics automation solutions, focusing on warehouse automation, order fulfillment, and inventory management.
SSI SCHAEFER Group (Germany): A global leader in logistics automation, offering a comprehensive range of products and services for warehousing, material handling, and waste technology.

BEUMER Group GmbH & Co. KG (Germany): A leading provider of intralogistics solutions, specializing in conveying, loading, and sorting technologies for various industries.

Konecranes Plc (Finland): A world-leading manufacturer of lifting equipment and automation solutions, serving a wide range of industries including logistics and manufacturing.

FORTNA Inc. (U.S.): A global provider of logistics automation solutions, specializing in supply chain consulting, design, and implementation services.

Oracle Corporation (U.S.): A multinational technology company offering a comprehensive suite of cloud-based supply chain management and logistics automation solutions.

SAP SE (Germany): A leading enterprise software company providing integrated logistics automation solutions for supply chain management, transportation, and warehouse operations.

TGW Logistics Group GmbH (Austria): A global provider of automated material handling systems and logistics automation solutions for various industries.

Swisslog Holding AG (Switzerland): A leading provider of intralogistics solutions, specializing in automation technologies for warehouses and distribution centers.

Slip Robotics (U.S.): A pioneer in autonomous robotic systems for logistics automation, offering innovative solutions for material handling and transportation.

Locus Robotics (U.S.): A leading provider of autonomous mobile robots (AMRs) for warehouse automation, offering flexible and scalable solutions for order fulfillment and inventory management.

Top 10 Companies Operating in Logistics Automation Market @ https://meticulousblog.org/tag/top-10-companies-in-logistics-automation-market/

Conclusion
As the global logistics automation market continues to evolve, driven by technological advancements and changing consumer demands, companies across various industries are increasingly turning to automation to enhance their logistics operations. The insights provided in this report by Meticulous Research® underscore the critical role of logistics automation in driving operational efficiency, reducing costs, and improving customer satisfaction. As market players continue to innovate and expand their product offerings, the logistics automation market is poised for significant growth, creating new opportunities for businesses and stakeholders alike.

Related Reports:
1.Airport Logistics Systems Market : https://www.meticulousresearch.com/product/airport-logistics-systems-market-4390

2.Industrial Automation Market: https://www.meticulousresearch.com/product/industrial-automation-market-5172

3.Connected Logistics Market: https://www.meticulousresearch.com/product/connected-logistics-market-5363

4.Packaging Automation Market : https://www.meticulousresearch.com/product/packaging-automation-market-5324

5.Europe Industrial Automation Market: https://www.meticulousresearch.com/product/europe-industrial-automation-market-5639

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About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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