Logistics Automation Market to Reach $65.14 Billion by 2031, Growing at a 10% CAGR


Posted September 11, 2024 by Meticulous2222

Logistics Automation Market by Offering (Hardware, Software, Services), Type (Inbound, Outbound), Automation Mode, Application (Inventory Management, Others), End User (Retail & E-commerce, Automotive, Others)

 
Meticulous Research®, a renowned global market research leader, has released its latest report titled, “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 reveals that the logistics automation market is projected to grow at a steady compound annual growth rate (CAGR) of 10%, reaching a valuation of $65.14 billion by 2031.
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Market Drivers and Opportunities
The unprecedented growth in e-commerce and the increasing adoption of robotic systems in logistics are key drivers propelling market expansion. However, high capital expenditure and a lack of standardization across the sector present notable challenges. Despite these hurdles, the market is well-positioned to capitalize on transformative opportunities stemming from the ongoing digitalization of the logistics industry, advancements in sensor technologies, and the increasing outsourcing of logistics functions.
Furthermore, heightened focus on improving last-mile deliveries and the increasing use of artificial intelligence (AI) in supply chain and logistics management underscore emerging trends expected to define the industry's future landscape.
Segment Analysis: Offerings, Types, and Automation Modes
The logistics automation market is divided into various segments by offerings, including hardware, software, and services. The hardware segment is forecasted to dominate the market in 2024, driven by the expansion of e-commerce, changing consumer behavior, and rising investments in logistics facilities. For example, Prozo Distribution Pvt. Ltd. in partnership with Craftsman Automation Ltd., deployed an Automated Storage & Retrieval System (ASRS) in India, highlighting the increasing reliance on robotics to enhance operational efficiency.
However, the software segment is poised to witness the highest growth, with technological advancements and seamless integration with supply chain management systems. Innovations such as Amazon Web Services’ (AWS) recent launch of the AWS Supply Chain platform demonstrate the sector's growing commitment to optimizing logistics operations and enhancing supply chain visibility.
Inbound vs. Outbound Logistics: Differentiated Growth
Based on type, the report categorizes the logistics automation market into inbound and outbound logistics. In 2024, inbound logistics is projected to capture the largest market share, owing to comprehensive solutions provided by key players. For instance, Fujitsu Limited's integrated inbound logistics solution, developed in partnership with One Network Enterprises, facilitates seamless, secure management of real-time processes across supply chains.
On the other hand, outbound logistics is forecasted to exhibit the highest growth rate. Companies are increasingly prioritizing the automation of packaging, order fulfillment, and shipment processes to improve the efficiency of outbound logistics operations.
Automation Modes: Semi-automatic vs. Fully Automatic Systems
The market is also segmented by automation modes—semi-automatic and fully automatic systems. In 2024, semi-automatic systems are expected to dominate due to their flexibility and cost-effectiveness, particularly for facilities transitioning from manual operations. However, fully automatic systems are projected to record the highest growth rate, driven by their superior speed, precision, and ability to adapt to complex logistics environments.
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Applications and End Users: Inventory Management Leads, Retail & E-commerce Dominates
Inventory management will emerge as the largest application segment in 2024, reflecting the increasing demand for optimized inventory control and automation. Companies such as Walmart are spearheading innovations by implementing Swisslog’s automation solutions to streamline material flow, enhance operational uptime, and boost inventory accuracy.
In terms of end users, the retail & e-commerce segment is forecasted to hold the largest market share. Retailers are increasingly deploying logistics automation solutions to enhance their omnichannel presence and improve operational productivity. A notable example includes the automation project completed by Dematic for Bünting SCM/Logistik GmbH & Co. KG in Germany, which involved advanced warehouse technology to optimize storage and sequencing of goods.
While retail & e-commerce remains a dominant force, the automotive segment is expected to grow at the fastest pace, fueled by increasing adoption of electric vehicles, intralogistics equipment, and automation technologies within the automotive supply chain.
Geographical Outlook: Asia-Pacific to Lead the Global Market
In 2024, Asia-Pacific is projected to account for the largest share of the global logistics automation market, driven by rapid industrialization, urbanization, and increasing customer demand for faster deliveries. The region's adoption of automation systems across fulfillment centers is transforming warehouse operations, as seen in Neoperl Group AG’s implementation of Swisslog’s AutoStore solution in China.
Asia-Pacific is also set to record the highest CAGR, reflecting companies' efforts to strengthen their omnichannel capabilities and optimize logistics operations with automation technologies. For instance, Rhenus Group in Hong Kong has partnered with Geekplus Technology Co., Ltd. to develop smart logistics solutions, leveraging autonomous mobile robots (AMRs) to automate warehousing operations.
Key Industry Players
Prominent companies shaping the future of the logistics automation market include:
• Dematic (U.S.)
• Daifuku Co., Ltd. (Japan)
• Honeywell International Inc. (U.S.)
• Vanderlande Industries B.V. (Netherlands)
• KNAPP AG (Austria)
• SSI SCHAEFER Group (Germany)
• BEUMER Group GmbH & Co. KG (Germany)
• Konecranes Plc (Finland)
• FORTNA Inc. (U.S.)
• Oracle Corporation (U.S.)
• SAP SE (Germany)
• TGW Logistics Group GmbH (Austria)
• Swisslog Holding AG (Switzerland)
• Slip Robotics (U.S.)
• Locus Robotics (U.S.)
These players are focused on innovations that enhance supply chain transparency, optimize operational efficiency, and meet the growing demand for sophisticated logistics solutions in an increasingly competitive global landscape.
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Issued By Dipali
Country India
Categories Business
Tags logistics automation market logistics automation warehouse automation logistics warehouse automation automated logistics systems automated warehouse s
Last Updated September 11, 2024