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Logistics Automation Market Estimated to Grow $80.64 Billion by 2023 at a CAGR of 11.8%

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Logistics Automation Market Estimated to Grow $80.64 Billion by 2023 at a CAGR of 11.8%

September 27
10:52 2019
Logistics Automation Market Estimated to Grow $80.64 Billion by 2023 at a CAGR of 11.8%

Dematic Corporation (US), Daifuku Co., Ltd. (Japan), Murata Machinery, Ltd. (Japan), Honeywell Intelligrated, Inc. (US), KNAPP AG (Austria), Swisslog Holding AG (Switzerland), TGW Logistics Group GmbH (Austria), SSI Schaefer AG (Switzerland), Mecalux, S.A. (Spain), VITRONIC (Germany), BEUMER Group (Germany), Toshiba Logistics Corporation (Japan), Jungheinrich AG (Germany), WiseTech Global Limited (Australia), System Logistics Spa (Italy)…
Logistics Automation Market by Component (Warehouse & Storage Management, Transportation Management), Organization Size (Large Enterprises, SMEs), Vertical (Retail & E-commerce, Automotive, Manufacturing), and Region – Global Forecast to 2023

The Logistics Automation Market is estimated to be USD 46.22 billion in 2018 and is projected to reach USD 80.64 billion by 2023, at a CAGR of 11.8% during the forecast period. The growth of the logistics automation market can be attributed to the exponential growth of the e-commerce industry, advancements in robotics, and the emergence of IoT. The implementation of driverless vehicles and drones in logistics is expected to provide lucrative growth opportunities to vendors of logistics automation solutions in the near future.

Autonomous vehicles and drones play a vital role in automating logistics processes. Companies such as Google and Tesla have made significant advances in driverless vehicle technologies. The future of logistics will include large autonomous trucks that assist in the delivery of goods to distribution centers. Autonomous forklifts will be responsible for unloading of packages using a network of conveyor belts and robot arms. Tesla, a leading manufacturer of electric vehicles, is undertaking measures to introduce fully autonomous heavy-duty freight vehicles. Similarly, companies such as Amazon and UPS are investing in the development of flying drones to automate delivery processes.

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The logistics automation market has been segmented on the basis of component, organization size, vertical, and region. Based on component, the market has been segmented into warehouse & storage management and transportation management. Based on organization size, the market has been segmented into large enterprises and Small & Medium-sized Enterprises (SMEs).  Based on vertical, the market has been classified into retail & e-commerce, manufacturing, oil, gas & energy, pharmaceuticals & healthcare, logistics & transportation, automotive, aerospace & defense, food & beverage, chemicals, and others (BFSI, IT & telecommunication, hospitality, education, paper, printing, and textiles). Based on region, the logistics automation market has been categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Based on component, the warehouse & storage management segment is estimated to lead the logistics automation market in 2018. The growth of the warehouse & storage management segment can be attributed to the implementation of smart technologies, such as IoT and robotics, in various industries to enhance warehouse operations.

The logistics automation market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. This growth is primarily driven by the increasing demand for automated material handling solutions from manufacturing industries and warehouses in Asia Pacific. Australia, South Korea, China, and India are key countries considered for market analysis in this region. The expansion of the transportation & logistics industry and increase in trade agreements are additional factors projected to drive the growth of the logistics automation market in the Asia Pacific region.

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Key players operating in the logistics automation market include Dematic Corporation (US), Daifuku Co., Ltd. (Japan), Murata Machinery, Ltd. (Japan), Honeywell Intelligrated, Inc. (US), KNAPP AG (Austria), Swisslog Holding AG (Switzerland), TGW Logistics Group GmbH (Austria), SSI Schaefer AG (Switzerland), Mecalux, S.A. (Spain), VITRONIC (Germany), BEUMER Group (Germany), Toshiba Logistics Corporation (Japan), Jungheinrich AG (Germany), WiseTech Global Limited (Australia), System Logistics Spa (Italy), Falcon Autotech (India), SI Systems, LLC (US), ULMA Handling Systems (Spain), Inspirage (US), FRAMOS (Germany), Matternet Inc. (US), Pcdata BV (Netherlands), and Hinditron (India). These players have adopted key growth strategies, such as new product launches, partnerships, collaborations, and acquisitions to expand their product portfolios and enhance their presence in the logistics automation market.

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