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 refers to the application of automated systems and equipment in warehouses and distribution centers to handle goods and materials with minimal human intervention. Logistics automation includes automated storage and retrieval systems, automated guided vehicles, robotic arms, conveyor systems and other material handling systems to sort, track, identify and transport goods and products within warehouses and distribution centers. This enhances productivity, reduces costs and errors while enabling efficient logistics operations. The growing e-commerce industry has increased the demand for logistics automation to efficiently manage increased inventory volumes and storage requirements.
Market key trends:
One of the key trends in the logistics automation market is the growing adoption of autonomous mobile robots. Autonomous mobile robots are equipped with advanced sensors and navigational systems to perform tasks such as transportation of goods, picking, sorting and other material handling activities without human operators. They offer advantages such as higher productivity, flexibility and scalability. The growing focus on warehouse automation and material handling is expected to drive the demand for autonomous mobile robots over the forecast period. Another major trend is the increasing adoption of cloud based warehouse management systems. Cloud based WMS offer benefits such as scalability, flexibility, mobility and lower maintenance costs. They enable efficient warehouse operations through effective inventory management, order tracking and labor management. The market is witnessing significant investments in cloud based WMS solutions by logistics and e-commerce companies.
Porter’s Analysis
Threat of new entrants: Low barriers to entry. However, established players have economies of scale advantage and brand loyalty which deters new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and price sensitivity. However, switching costs are relatively low.
Bargaining power of suppliers: Suppliers have low bargaining power due to fragmented nature and availability of substitutes.
Threat of new substitutes: Threat from new substitutes is moderate as logistics solutions are fragmented with no clear substitute.
Competitive rivalry: High due to presence of many global and regional players competing on technology and pricing.
Key Takeaways
The Global Logistics Automation Market Size is expected to witness high growth, exhibiting a CAGR of 11.41%over the forecast period 2023 to 2030, due to increasing demand for efficient and optimized logistics operations.
Regional analysis: North America dominates the global logistics automation market currently, owing to technological advancements and high adoption of automation across industries. Asia Pacific is expected to exhibit the fastest growth over the forecast period supported by growing e-commerce industry and manufacturing sector in emerging countries such as China and India.
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. These players are focusing on developing innovative logistics automation solutions to cater to diverse industry requirements.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
