The Logistics Automation market is set to grow from its current market value of more than US$50 billion to over $158 billion by 2032; as reported in the latest study by Global Market Insights, Inc.
Rising demand for e-commerce platforms along with the surging usage of logistics automation components will boost the industry demand. The increasing need for efficient and streamlined logistics operations has led to the higher adoption of automated solutions in warehouses and distribution centers.
Robotics technology, including automated guided vehicles (AGVs) and robotic arms are extensively used for tasks, such as picking, packing, sorting, and inventory management.These automation solutions enhance operational efficiency, reduce labour costs, minimise errors, and improve the overall productivity, thereby fostering the market growth.
Logistics automation market from the warehouse management system (WMS) software segment will grow at over 13% CAGR till 2032. WMS software offers extensive inventory management features, allowing businesses to optimize their warehouse operations.
It enhances visibility and delivers real-time information on stock levels, locations, and movements by automating inventory tracking. The surging focus of companies on eliminating stockouts, and excess inventory, and increasing the overall inventory accuracy with precise inventory data for cost savings and effective supply chain management will contribute to the market growth.
Logistics automation market from the warehouse and storage management application segment is projected to record CAGR of 12.5% from 2023-2032. Lately, several businesses are turning to automation solutions, such as autonomous mobile robots, palletizing systems, and other hardware in warehouses for improved operations. Additionally, numerous market players are launching new software and services to assist warehouse owners to adopt new technologies, including robotics, AI, and IoT for revolutionizing the way goods are stored, retrieved, and transported.
Asia Pacific recorded more than USD 10 billion for the logistics automation market in 2022 and is projected to witness substantial expansion over 2023-2032. The rapid economic growth, expanding e-commerce sector, and increasing focus on supply chain efficiency are driving the regional adoption of logistics automation solutions.
The surging labour costs have led to massive investments in warehouse automation, robotics, and intelligent transportation systems in countries, such as China, Japan, South Korea, and India. The booming cross-border trade along with the higher need for seamless logistics operations will also fuel the regional industry growth.
Some of the major logistics automation industry players include Honeywell International, Dematic, Daifuku, IBM, Knapp AG, SAP, and Oracle. These companies are prioritizing the development of new manufacturing technologies for launching trending products, while working on collaborations to retain their market position.
Logistics Automation Market News
In March 2023, Hy-Tek Intralogistics introduced its IntraOne Enterprise Logistics Platform, an integrated system for satisfaction and distribution technology and automation that consists of a collection of in-house capabilities, products, and services. The platform is intended to help the organisation’s future goals by aiding with current difficulties and establishing the framework for future growth through data-driven input.
