Logistics Automation Market 2021 Trends, Business Growth, Application, Development, Segmentation, Application, Types, Drivers, and Forecast 2030

In a recent published report, Kenneth Research has updated the market report for Logistics Automation Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Logistics Automation Market products

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

Market Synopsis

The global logistics automation market is estimated to reach USD 89.72 Billion by 2024, registering a CAGR of 11.7% during the forecast period of 2019–2024. The exponential growth of e-commerce is a major factor propelling the growth of the global logistics automation market. Digitalization has transformed the shopping experience among users and has provided a potential platform for small and medium size vendors, apart from the large-sized vendors. Logistics automation allows industries to improve customer services by providing information in real time; for instance, automation has increased the productivity in transportation, allowing the user to get the information such as freight rates and transportation modes in real time.

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Moreover, automation in logistics has revolutionized the transportation industry by reducing the errors, resulting in the reduction of expenses, as errors in supply chain can increase the shipping cost. Moreover, with the advancements in technology has led the user to control the process or a machine through mobile gadgets and smartphones. Automation has as increased the working speed and scalability in the logistics industry.

Moreover, the companies present in the global logistics automation markets are developing new solutions, hardware, and software. In 2016, The KION Group acquired Dematic Corp., one of the key players in the supply chain of automation present in US. The acquisition was made to enhance the former’s position in the market. In 2017, Toyota Industries Corporation (TICO) signed an agreement to acquire Vanderlande Industries BV—the acquisition was made to improve customer services and to offer automation solutions to industries globally.

The companies are focusing on strategies such as partnership, acquisition, and investments in research and development, which are contributing to the growth of the market. However, high capital is required to deploy the logistics automation solutions, as large warehouse facilities require the installation of software, solutions, and automation equipment that increases the expenses of a company, limiting the market for small- and medium-size companies; this acts as a restraint for the global logistics automation market.

Key Players

The key players in the global logistics automation market are Dematic Corp. (US), Daifuku Co., Ltd (Japan), Swisslog Holding AG (Switzerland), Honeywell Intelligrated (US), Murata Machinery Limited(Japan), Knapp AG(Austria), Jungheinrich AG (Germany), SSI Schaefer LLC (UAE), MecaluxSA (Spain),, VITRONIC (Germany), Beumer Group (Germany), Toshiba Infrastructure Systems & Solutions Corporation (Japan), TGW Logistics Group GmbH (Austria), WiseTech Global (Australia), System Logistics SPA (Italy), and Falcon Autotech (UK).

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The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.

Segmentation

By component, the market has been segmented into hardware, software, and services. The hardware segment has been further segmented into mobile devices, automated guided vehicles, sorting and picking systems, and othersBy organization size, the market has been segmented into large enterprises and SMEs.

By application, the market has been segmented into warehouse management and transportation management.By end user, the market has been segmented into retail and e-commerce, manufacturing, oil & gas, healthcare and pharmaceuticals, automation, aerospace & defense, and othersBy region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

Regional Analysis

The market for global logistics automation market is estimated to grow at a significant rate during the period from 2018 to 2024. The geographical analysis of logistics automation has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe),  Asia-Pacific (China, Japan, India, Singapore, and the rest of Asia-Pacific) and the rest of the world (the Middle East and Africa and South America).

At present, North America holds the largest market share being an early adopter of the technology. Moreover, the presence of various manufacturing, transportation, retail, automotive, healthcare, and pharmaceutical industries, which are some of the earliest adopters of automation software and solution, are also contributing to the market growth. Moreover, the presence of key players in the region such as XPO Logistics, Americold Logistics, and Honeywell Intelligrated, that offer solutions, services, and software also contributes to the growth of the market.

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Europe held the second largest market share in the global logistics automation market in 2018 due to the presence of various global players in the region, such as Jungheinrich AG, Knapp AG, and Swisslog. Asia-Pacific is expected to be the fastest growing regional market due to the rapid adoption of the technology among the manufacturing, retail, transportation, automation, and other industries.

Intended Audience

Logistics Solution Providers

Application Developers

System Integrators

Communication Equipment Providers

Consulting Firms

Government Agencies and Authorities

Original Equipment Manufacturers

Embedded Systems Companies

Data Management and Predictive Analysis Companies

Internet Identity Management, Privacy, and Security Companies

Wireless Infrastructure Providers

Consultants and Consultancy/Advisory Firms

Training and Education Service Providers

Support and Maintenance Service Providers

Managed Service Providers

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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